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Iran's Largest Crypto-to-Fiat Exchange Adds This Privacy Coin

News
Fri, 06/12/2020 - 13:00
Vladislav Sopov
The Islamic Republic of Iran, which has been under U.S. sanctions for many years, has revealed a controversial attitude towards crypto
Iran's Largest Crypto-to-Fiat Exchange Adds This Privacy Coin
Cover image via stock.adobe.com
Contents

It has been reported that EXIR, the largest and most advanced cryptocurrency exchange platform in Iran, has added support for Monero (XMR) direct swaps with fiat Iranian Rial (IRT).

New horizons for Monero (XMR)

Paul Janowitz, a Monero (XMR) community speaker, revealed today that EXIR, a top-level Iranian crypto exchange, is now supporting Monero (XMR) trading pairs with Iranian Rials (IRT).

Monero (XMR) is now supported by top Iranian crypto exchange EXIR
Image via Twitter

Mr. Janowitz believes that this instrument will be of significant use for evading U.S. sanctions imposed on the republic. Monero (XMR) privacy-focused transactions represent an alternative to banking remittances that are subject to sanction-related restrictions.

EXIR is a centralized crypto exchange with fiat payment instruments. It was launched in Tehran in 2017. Bitcoin (BTC), Tether (USDT), Ethereum (ETH), XRP and Bitcoin Cash (BCH) are already available for trading against the Iranian Rial.

According to Binance's Coinmarketcap, its net trading volume exceeds $537,000. CMC has already added XMR to its trading toolkit of EXIR, but only to the 'Unverified markets' category.

Privacy vs sanctions

Just like in any authoritarian regime, people in Iran are highly interested in cryptocurrency and blockchain. Iranian states also consider using cryptocurrency to evade U.S. trading sanctions.

Also, as revealed by Foreign Policy, Iran's President Hassan Rouhani highlights the importance of Bitcoin (BTC) instruments in national banking. Also, a nation-wide strategy for Bitcoin (BTC) mining is under consideration by the financial authorities of this country.

As covered by U.Today, Bitcoin (BTC) prices in Iran spiked above $29,000 after the assassination of local strongman Gen. Qasem Soleimani.

So, Monero (XMR) with its privacy-focused approach looks like a real gem for local citizens and banks. It is worth noting that the performance of Monero (XMR) transactions may be upgraded this year after the implementation of a new signatures scheme.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)