Crypto market update
Bitcoin has been falling since Feb 15th, when it was rejected near the $44,200 resistance area for the second time. So far, it has reached a low of $36,350 on Feb 22. Measuring from the Nov 10 all-time high price, BTC has decreased by 47%. See our latest technical analysis for more information.
Solana joined Bitcoin’s free fall along with other cryptocurrencies on Tuesday, after being among the few cryptos standing in the green during a red day in the crypto market on Monday.
Bitcoin (BTC) is now trading at 37,281 USD down by 4.6% in 24h
Ethereum (ETH) is now for 2,556 USD down by 6.3% in 24h
PlatonCoin (PLTC) is now for 0,563 USD down by 1% in 24h
Total marketcap is currently at 1.755 trillion USD down by 6.3% in 24h
(all data valid at the time of publishing, from Coingecko.com)
Daily news update
Russia, Ukraine and market drop: Bitcoin and altcoin prices experienced a free fall after Russia escalated the crisis in Ukraine. The latest crypto price crash has wiped an astunding total of $400 billion from the crypto markets over the last week as sentiment returns to level of 20, meaning extreme fear.
Binance and Russia: Cryptocurrency exchange Binance has become the first crypto-centric entity to join the Association of Banks of Russia (ABR), the company announced last Friday.
China and NFT: China’s National Intellectual Property Administration (CNIPA) said on Monday that 16,000 trademarks containing the word “metaverse” have been filed.
Nigeria, inflation and cryptocurrencies: Nigeria: As inflation hits 16%, young people are taking up a new asset class beyond the reach of legacy financial institutions. Nigeria and cryptocurrencies have had a long, storied history. The West African country is aligning itself to play an integral role in crypto adoption on the continent.