$120M OneCoin-Like Crypto Ponzi Scheme Busted in India

Local authorities in the Indian state of Odisha took down a $120 million crypto Ponzi scheme on Tuesday. Local media revealed that the Economic Offences Wing (EOW) of the state police arrested two central figures behind the fraud that was operating pan-India.

Timeline of Bitcoin-cash, Stellar

In correlation with the recent downward trajectory observed in XRP's price performance over the past week, Stellar (XLM) has similarly experienced a diminishing trend, mirroring the prevailing bearish sentiment in the cryptocurrency market.

After a bearish start to August 2023, Bitcoin Cash (BCH) price is finally flashing on-chain signals of a potential purple patch. With BCH short sellers suffering their highest liquidations since July 13, a market momentum swing could trigger another Bitcoin Cash price rally.

Cryptocurrencies are far beyond their original concept, having evolved into a way of creating vast ecosystems at the fingertips of the world. Bitcoin (BTC) was the first rung on the ladder, the stepping stone to this immense technology.

The price of Stellar (XLM) has experienced a decline since reaching its yearly high on July 13. However, it's currently trading within a continuation pattern, which indicates the potential for a breakout in the future.

Amidst the artificial intelligence (AI) frenzy ignited by OpenAI's ChatGPT, the tech landscape has witnessed fierce competition among industry giants eager to unveil their own cutting-edge AI products. One such formidable contender is Google Bard, a generative AI offering brought to the fore by Alphabet (NASDAQ: GOOGL).

Between July 6 and July 25, Bitcoin Cash price declined 27% from $295 to $233 as BCH miners offloaded a huge chunk of their reserves. Over the past week, bullish whales have started buying again.

Bitcoin Cash [BCH] may have to cross a major hurdle for traders to see some winds. Dwindling selling pressure at the critical $248 price level could offer a chance for a bullish rebound.

At a time when Bitcoin (BTC) and most altcoins are wriggling out of their bearish dive with slight gains, Stellar (XLM) is notably charting an impressive rally across the board. The cryptocurrency is trading at a price of $7.96, up by 10.2% at the time of writing.

The much-awaited TOKEN2049, Asia's leading Web3 and crypto conference, is back in Singapore with a bang. Scheduled to take place from 13th to 14th September 2023 at Marina Bay Sands, this year's event promises to be the largest of its kind, attracting over 10,000 attendees from more than 3,500 companies.

Bitso, a leading cryptocurrency exchange in Latin America, has partnered with Stellar Development Foundation to enhance the global payment corridor between Latin America and the rest of the world.