Crypto.com Weekly Market Update (Week 8, 21/02/2022 – 27/02/2022)
Ukraine receives $4M from crypto community. BTC passes $36,000 despite Russia-Ukraine conflict. Price, volume, and volatility indices on the up.
Key Takeaways
Bitcoin (BTC) rose past USD 36,000 late last week on 24 February 2022, having traded between $34,000 and $40,000 despite headwinds from the Russia-Ukraine conflict.
The Ukrainian government crowdfunding appeal saw cryptocurrency transfers and donations with a combined value of more than $10 million and growing. The contributions were mainly in Bitcoin (BTC) and Ethereum (ETH), with additional contributions from proceeds of non-fungible token (NFT) sales.
The general price, volume, and volatility indices were positive at +2.24%, +30.02%, and +60.14%, respectively.
Highlights
Apple Pay to halt support for Russian banks sanctioned on war in Ukraine
Ethereum gets an upgraded scaling Testnet – and it's actually years ahead of schedule
Luna Foundation Guard raises $1 billion to form bitcoin reserve for UST stablecoin
Puma registers ENS domain, changes name to Puma.eth on Twitter
Solana NFT marketplace Magic Eden is airdropping tokens, launching DAO
Crypto legislation in Panama advances with committee meeting
Check the latest prices on Crypto.com/Price.
Notable Events
Cryptocurrencies rose on Friday following a steep sell-off that saw around $150 billion wiped off the market after the Russia-Ukraine conflict. An intraday reversal in U.S. stocks on Thursday and throughout the trading session on Friday led major indices to close higher. This positive price movement trickled down to the rest of the cryptocurrencies.
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