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
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