Crypto.com Weekly Market Update (Week 9, 28/02/2022 - 06/03/2022)
BTC mining difficulty falls for the first time this year. Price, volume, volatility indices all slip.
Key Takeaways
Bitcoin (BTC) mining difficulty fell for the first time this year suggesting a reduction in the number of miner participants. Mid-week, the token rose to a high of USD 45,412 before closing lower at the end of the week.
Polygon (MATIC) tweeted that their Layer 2 solution will be supporting Swiss city Lugano’s Crypto transformation.
Ukraine’s Digital transformation minister cancels airdrop but announces NFTs in the near future. Ukraine’s total donation figure crossed $30M last week.
The general price, volume, and volatility indices were all negative at -1.48%, -6.39%, and -22.15%, respectively.
Highlights
Swiss city of Lugano to make Bitcoin and Tether 'de facto' legal tender
Convex Finance Bug Causes CVX Token to sink on forced Token unlock
Ethereum miners generated $1.19 billion in revenues during February
ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure
ConsenSys AG shareholders file for independent audit of MetaMask, Infura transaction
Customer demand prompts Charles Schwab file for Crypto Economy ETF
Polymer’s $3.6M in seed funding says IBC Is the future of Crypto
Polkadot, Vechain founders pledge over $10 million in crypto to Ukraine
Visa to launch Crypto payment for Latin Americans with Tribal
Shake Shack offering Bitcoin rewards for customers using Block’s CashApp
MetaMask, Infura block ‘certain areas’ amid crypto sanctions fury
Check the latest prices on Crypto.com/Price.
Notable Events
Bitcoin (BTC) rose to a high of $45,412 before giving up its gains on the 28th of Feb, likely due to surmountable macro pressures from all fronts – geopolitical conflict, inflation, and a rising rates environment.
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