Daily news update: February 18th, 2022

pltc, storage, daily, week 37, cryptocurrencies, news, PlatonCoin

Crypto market update

After trying to break the level of $44,000 for a few days, Bitcoin was rejected and dropped to a two-week low of around $40,000. Most altcoins have also turned red with substantial price losses reported by all major altcoins, such as Ethereum, Terra, Shiba Inu, MATIC, and others. Volatility caused pain for over-leveraged traders as the liquidations skyrocketed to about $300 million on a daily scale. PlatonCoin proved once again that it is not tied to the leader of the cryptomarket, Bitcoin, but rather to its growing ecosystem.

Bitcoin (BTC) is now trading at 40,300 USD down by 6.9% in 24h

Ethereum (ETH) is now for 2,888 USD down by 6.4% in 24h

PlatonCoin (PLTC) is now for 0,551 USD up by 6.3% in 24h

Total marketcap is currently at 1.930 trillion USD down by 5.2% in 24h

(all data from Coingecko.com)

Daily news update

USA and market drop: The recent sell-off is attributed to the uncertainty of pending, more onerous U.S regulations. The latest reports on this matter state President Biden will issue an executive order next week calling U.S government agencies to formulate a national strategy in respect of regulating cryptocurrencies. This would also involve studying central bank digital currencies, including a technical evaluation on the practical implementation of a digital dollar.

Coinbase and crypto ad: On Super Bowl Sunday, February 13, Coinbase downloads increased by 309% week over week after the ad’s showing and increased 286% the following day, according to data from app intelligence firm Sensor Tower. However, Coinbase wasn’t the only crypto app that performed well; three of the top five applications that saw a substantial increase in downloads were crypto apps.

Russia and crypto regulations: The Ministry of Finance of the Russian Federation has officially initiated work on the country’s cryptocurrency regulation bill, filing the first public notice on the federal legal portal. Russia’s finance ministry on Thursday filed two development notices announcing the start of the process of developing a legal framework for activities related to transactions with digital currencies and their issuance.

Ukraine and crypto law: The parliament of Ukraine has passed amendments to its Law On Virtual Assets ratifying the eventual creation of a legal market for cryptocurrencies. Ukraine is also working on changes to its tax and civil codes, with the minister’s office, as part of the move to embrace its stance toward domestic crypto adoption, the government said.

Leave a Reply

Your email address will not be published.

Are you new to the world of digital currencies?

Schedule a half-hour consultation.

Schedule a consultation