Weekly Market Update (Week 7, 14/02/2022 – 20/02/2022)
Bitcoin falls to $38K on Sunday. Warren Buffett invests $1B in Bitcoin-friendly Nubank. Price, volume, and volatility indices all plummet.
Key Takeaways
- Bitcoin (BTC) recovered from its latest dump to USD 42,000 and jumped to nearly $45,000 on Tuesday and Wednesday. However, the cryptocurrency failed to continue upwards and plummeted to a two-week low at $38,000 on Sunday.
- Warren Buffett’s Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and invested $1 billion in the Bitcoin-friendly Nubank, the largest FinTech bank in Brazil that’s also popular among the country’s Bitcoin investors.
- The general price, volume, and volatility indices were negative at -8.70%, -16.68%, and -6.40%, respectively.
Highlights
- Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price rise
- Crypto market flirts with $2 trillion capitalisation despite snoozing bulls
- Bitcoin briefly dips below $43K as Fed says rate hike ‘soon appropriate’
- OpenSea users had millions of dollars worth of NFTs stolen in phishing attack
- USDC issuer Circle is now valued at $9B under revamped SPAC deal terms
- Bitcoin outperforms major tech stocks by an average of 12% in the last 30 days
- Crypto app downloads spike 280% following Super Bowl ads
- Russian Ministry pushes to legalise Bitcoin mining In energy-rich areas
- Overwhelming support for Grayscale BTC Trust ETF conversion proposal
- Mastercard to offer crypto and NFT consulting services, may help develop CBDCs
- JPMorgan enters the metaverse with virtual Decentraland lounge
- Crypto lender Nexo to stop paying interest on new deposits from US customers
- With $100M settlement confirmed, BlockFi aims to register Yield with SEC
- DBS plans to launch retail digital assets trading desk by year-end
- Oil giant ConocoPhilips reduces gas flaring emissions via Bitcoin mining
Check the latest prices on Crypto.com/Price.
Market Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | – | – | XMR (+11.96%) ETH (+3.21%) ATOM (+2.17%) |
| Top Losers | XTZ (-16.00%) XMR (-11.57%) DOT (-10.35%) | XTZ (-59.52%) DOT (-26.99%) ADA (-24.14%) | EOS (-35.18%) LINK (-30.17%) DOT (-29.80%) |
| Benchmark | BTC (-9.10%) | BTC (-17.69%) | BTC (-7.99%) |
Notable Events
- Bitcoin (BTC) has fallen below the crucial $40,000 psychological barrier (again). (ref) The world’s No. 1 cryptocurrency hit a new low of $38,000 on Sunday, struggling to find support while whales remain sidelined (ref).
- Vitalik Buterin, co-founder of the Ethereum’s (ETH) blockchain said that crypto ‘welcomes’ another winter, and that the digital-asset universe may actually benefit from the current retreat in coin prices that’s cast a chill on investors. (ref)
DeFi Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | – | BAL (+3.11%) | UMA (+52.84%) BAL (+35.13%) SNX (+13.25%) |
| Top Losers | REN (-17.01%) SNX (-14.65%) AAVE (-13.39%) | NXM (-79.62%) LRC (-51.03%) REN (-40.49%) | UNI (-36.70%) LRC (-36.03%) LINK (-30.17%) |
| Benchmark | UNI (-11.08%) | UNI (-4.54%) | UNI (-36.70%) |
Other Tokens
| Price Change (%) | NFT | Gaming | Meme |
|---|---|---|---|
| Top Gainers | UOS (+20.02%) | MBOX (+4.58%) ALICE (+0.3%) MANA (+0.28%) | – |
| Top Losers | OMI (-19.73%) FLOW (-17.05%) OGN (-16.95%) | SAND (-18.54%) ATLAS (-17.24%) POLIS (-15.98%) | HOGE (-23.66%) SHIB (-12.19%) DOGE (-6.13%) |
*Gaming tokens: AXS, MANA, SAND, ALICE, YGG, MBOX, ILV, ATLAS, POLIS, DAWN
*Meme tokens: DOGE, SHIB, MONA, HOGE, PEPECASH
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