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
• Yearn Finance adds its first Ethereum Layer 2: Arbitrum
• Switzerland-based index provider offers DeFi exposure
• Luna Foundation Guard raises $1 billion to form bitcoin reserve for UST stablecoin
• Opera announces integration with DeFi platform DeversiFi
• USDT premiums soar on Ukraine’s Kuna exchange
• Puma registers ENS domain, changes name to Puma.eth on Twitter
• Sotheby’s scraps CryptoPunks lot minutes before auction
• Solana NFT marketplace Magic Eden is airdropping tokens, launching DAO
• Mintable recovers three NFTs stolen from OpenSea users
• Crypto legislation in Panama advances with committee meeting

Check the latest prices on Crypto.com/Price.

Market Index Tokens

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.

DeFi Tokens

Other Tokens