Weekly Market Update (Week 9, 28/02/2022 – 06/03/2022)
BTC mining difficulty falls for the first time this year. Lugano, Switzerland makes BTC and USDT legal tender. 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
- Apparent Ukraine WORLD Airdrop Might Be Spoof
- 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
- China still accounts for 10% of Bitcoin transactions
- Shake Shack offering Bitcoin rewards for customers using Block’s CashApp
- Diagonal raises $2.5M for Web 3 subscription payments
- SandStorm heads to Polygon, Ethereum after $2.5M seed raise
- MetaMask, Infura block ‘certain areas’ amid crypto sanctions fury
Check the latest prices on Crypto.com/Price.
Market Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | XMR (+5.47%) ATOM (+1.72%) | ATOM (+41.81%) XMR (+16.44%) | – |
| Top Losers | XLM (-8.37%) EOS (-7.79%) XTZ (-7.13%) | ADA (-35.89%) XTZ (-33.08%) XLM (-20.21%) | EOS (-59.55%) LINK (-57.45%) XTZ (-49.88%) |
| Benchmark | BTC (+0.26%) | BTC (+2.93%) | BTC (-3.97%) |
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.
DeFi Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | UMA (+80.24%) | UMA (+1826.15%) REN (+70.30%) YFI (+19.02%) | UMA (+882.11%) |
| Top Losers | AAVE (-15.43%) UNI (-12.56%) COMP (-9.76%) | NXM (-63.22%) LRC (-19.72%) LINK (-19.00%) | UNI (-60.21%) AAVE (-60.12%) LINK (-57.45%) |
| Benchmark | UNI (-12.56%) | UNI (+1.36%) | UNI (-60.21%) |
Other Tokens
| Price Change (%) | NFT | Gaming | Meme |
|---|---|---|---|
| Top Gainers | CHZ (+23.25%) FET (+21.98%) UOS (+1.15%) | – | SHIB (+0.33%) |
| Top Losers | OGN (-4.77%) OMI (-3.90%) FLOW (-3.58%) | YGG (-16.24%) MBOX (-14.52%) ATLAS (-10.09%) | DOGE (-2.27%) MONA (-1.27%) HOGE (-0.30%) |
*Gaming tokens: AXS, MANA, SAND, ALICE, YGG, MBOX, ILV, ATLAS, POLIS, DAWN
*Meme tokens: DOGE, SHIB, MONA, HOGE, PEPECASH
Share with Friends
Related Articles
DeFi - 2D AGO
DeFi & L1L2 Weekly — 📈 Tokenised stocks trading volume on xStocks averaged $3.6 million; Hyperliquid’s latest mainnet upgrade introduced the CoreWriter contract
DeFi - 2D AGO
DeFi & L1L2 Weekly — 📈 Tokenised stocks trading volume on xStocks averaged $3.6 million; Hyperliquid’s latest mainnet upgrade introduced the CoreWriter contract
DeFi - 2D AGO
DeFi & L1L2 Weekly — 📈 Tokenised stocks trading volume on xStocks averaged $3.6 million; Hyperliquid’s latest mainnet upgrade introduced the CoreWriter contract
Market Pulse - 7 Jul 2025
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
Market Pulse - 7 Jul 2025
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
Market Pulse - 7 Jul 2025
📉 BTC’s implied volatility fell to Oct 2023 lows; Crypto.com celebrated its 9th anniversary
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
GameFi - 4 Jul 2025
NFT & Gaming — 🎮 Pudgy Penguins is launching a Web3 game, Pengu Clash; Otherside announced the upcoming shooter game, Bathroom Blitz
Ready to start your crypto journey?
Get your step-by-step guide to setting upan account with Crypto.com
By clicking the Submit button you acknowledge having read the Privacy Notice of Crypto.com where we explain how we use and protect your personal data.
