Hacks, frauds, and money-laundering schemes involving cryptocurrency are growing in scope and sophistication. The debate over the regulation of the industry is heating up. The use of blockchain technology in state conflict has been one of the most talked-about topics in the crypto community in the last few days. Prices of cryptocurrencies have risen in response to the Ukraine crisis. Russia is the world’s third-largest cryptocurrency mining country. Even in the United States, Russia is home to many top cryptographic developers. There has been an increase in ransomware attacks originating in Russia that target crypto exchanges.
Insider Monkey picked 10 cryptocurrencies to watch amid Russia’s attack on Ukraine. For booking hotel rooms, plane tickets, and other travel-related activities, Travala is a travel-focused cryptocurrency. As tensions rise in Eastern Europe, Travala’s value may dwindle as travelers become wary of visiting Russia and its neighbors due to the threat of the pandemic. In 2015, Bowscoin was launched as a proof-of-work cryptocurrency. In Russia, the coin is one of the most talked-about on social media. Firms like CME Group Inc. have helped rise to prominence cryptocurrencies like Bowscoin. Monero is a cryptocurrency that focuses on privacy. Transactions on the network can’t be tracked or linked back to any specific party. There may be an increase in Monero’s value as the United States considers sanctions against Russia. Mastercard is a viable investment option for those looking to diversify away from Monero. In 2021, as other cryptocurrencies began to falter, Solana rose to prominence. Due to its network’s ability to process 50,000 transactions per second, the Solana coin has become widely accepted in the cryptocurrency community. DeFi and NFT markets are also seeing rapid growth. When Russia hosted the 2018 World Cup, the coin’s popularity skyrocketed. The overall functioning of the economy has been greatly impacted by the rise of cryptocurrencies. It’s more and more likely that Dogecoin will be used to spread cyberattacks, which are on the rise. For more details, click 10 Cryptocurrencies To Watch Amid Russia’s Attack On Ukraine.