My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people – people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I’m so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone’s life. I don’t chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

Garantex, a Russian crypto exchange under US sanctions, accused Tether of attacking the Russian crypto market. 

According to the exchange’s Telegram announcement, Tether has frozen several USDT wallets on the exchange, which are worth over $28 million. 

USDT Holders in Russia are At Risk

Garantex stated that USDT stablecoins in user wallets are at risk. Several USDT funds held by users in the exchange have been frozen. To manage the situation, Garantex has temporarily halted all operations. 

Co-founder Sergey Mendeleev stated that this action disrupts Russia’s international trade carried out with digital assets. 

“We temporarily suspend the provision of all services, including cryptocurrency findings, for a while while we are solving this problem with the whole team. We fight and don’t give up!” Garantex wrote on Telegram. 

Further, he warned that the freeze creates difficulties for businesses and financial institutions that depend on crypto to settle international payments. 

Back in December, Russia’s Finance Minister confirmed that the country has been increasingly using Bitcoin and other cryptocurrencies for international trade amid sanctions. 

“While we discussed easing tensions and relaxing sanctions, we were deceived once again. Suddenly, the paradigm shifted: earlier, sanctions were merely glossed over, but now they block without trial or investigation. This is exactly the reality I have warned about for at least two years, yet neither the Central Bank nor the professional community listened,” — wrote Mendeleev.

Mendeleev stressed that the disruption affects Russia’s economic engagements on a broader scale. Western sanctions have forced digital currencies to play a vital role in international settlements. The current incident further complicates those processes. 

The exchange’s claim draws attention to mounting regulatory pressure and a growing conflict between US authorities and market players operating in Russian jurisdictions.

Garantex Sanction Explained

State Duma deputy Anton Gorelkin added his perspective on the incident. He pointed out that Tether’s decision reflects a broader trend of pressure applied by Western regulators on crypto infrastructure amid ongoing sanctions. 

Gorelkin highlighted that centralized stablecoins like USDT remain particularly exposed to outside control. Despite the blockade, he expressed confidence that it is impossible to completely shut down the Russian crypto market. 

Garantex first encountered regulatory challenges in April 2022. US authorities imposed sanctions following the intensification of the conflict between Russia and Ukraine. 

Officials charged the exchange with failing to comply with anti-money laundering and counter-terrorism financing rules. US agencies claimed that Garantex played a role in laundering over $100 million linked to hacker groups and dark web transactions.

In March of last year, law enforcement agencies from the US and UK began an investigation into Garantex. They reviewed crypto transactions totaling more than $20 billion made using USDT. 

This probe reflects the ongoing tensions between regulators and crypto operators in sanctioned environments.

Solana’s price has faced significant struggles in recent weeks, particularly in its attempt to breach the key resistance of $183. The altcoin’s inability to break through this level has caused a pullback, leaving it trading at around $150. 

The recent market conditions, marked by a Death Cross, suggest more downward pressure could be ahead.

Solana Faces A Death Cross

Solana recently experienced its first Death Cross since October 2023, ending a 17-month streak of Golden Cross formations. The Death Cross occurs when the 200-day exponential moving average (EMA) crosses over the 50-day EMA. Historically, this is a bearish signal for the asset, as it suggests weakening momentum and potential further declines. 

This technical indicator raises concerns about Solana’s ability to recover and may trigger additional selling, contributing to a downward spiral. The appearance of the Death Cross often indicates that sellers are in control of the market, and the price may continue to slide. 

The overall macro momentum of Solana has also shown signs of weakening. A significant indicator of this shift is the decrease in new addresses interacting with the Solana network. The number of new addresses has dropped to a 4-month low, signaling a lack of new investor interest. 

This decline suggests that Solana is losing traction in the market, as investors do not see an immediate incentive to pour capital into the altcoin. As the number of new participants decreases, Solana faces a risk of further stagnation. 

SOL Price Needs A Boost

At the time of writing, Solana’s price stands at $149, about 23% away from the critical resistance of $183. While the altcoin remains above $137, it will struggle to regain upward momentum unless it can breach this resistance level. Without a reversal at this level, Solana could remain trapped within its current downtrend.

Given the bearish technical factors, Solana may struggle to maintain its current price level. The next key support for Solana lies at $131. If the downtrend continues, a drop to this level could be imminent. Losing support at $131 could lead to further declines, with a potential drop to $120 in the short term.

The only way to invalidate this bearish outlook is if Solana can capitalize on the broader market recovery. If the altcoin can breach $161, it would be a strong sign that it is gaining strength again. A successful flip of this resistance into support could set the stage for a move past $183 and a reversal of the current downtrend.