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

Notable Events

• Bitcoin (BTC) rose to a high of $45,412 before giving up its gains on the 28^th of Feb, likely due to surmountable macro pressures from all fronts – geopolitical conflict, inflation, and a rising rates environment.

DeFi Tokens

Other Tokens