Daily news update: March 17th, 2022

week 05, news

Crypto market update

Crypto assets registered wild volatility lately, with the latest movement being upwards due to the decision by FED to raise rates by 25-basis points. Another reason could be the increasing global adoption. Because of the overall boost, the total crypto market cap is now up by more than $110 billion in two days and stands well above $1.9 trillion now.

Bitcoin (BTC) is now trading at 41,049 USD up by 0.1% in 24h

Ethereum (ETH) is now for 2,820 USD up by 4.1% in 24h

PlatonCoin (PLTC) is now for 0,682 USD up by 6.4% in 24h

Total marketcap is currently at 1.913 trillion USD up by 2.5% in 24h

(all data valid at the time of publishing, from Coingecko.com)

Daily news update

Ethereum and investors: Ethereum (ETH), the second-largest cryptocurrency by market capitalization, is now back, trading back in the green. In particular, Ethereum has seen an inflow of over $20 billion into its market capitalization across the last seven days. Ethereum stacking deposits also have seen their biggest one day spike since the network launched in December 2020.

Canada with MIT and CBDC: Canada’s central bank announced it will collaborate with the Massachusetts Institute of Technology (MIT) on a 12-month-long project to explore a central bank digital currency (CBDC). The Bank of Canada will work with the MIT Media Lab’s Digital Currency Initiative (DCI) team. Together, they intend to understand how different advanced technologies could inform the potential design of a CBDC.

Ukraine and cryptocurrencies: Ukrainian President Volodymyr Zelenskyy has signed a virtual assets bill into law to legalize cryptocurrencies in a country that is receiving millions in crypto donations for military and humanitarian aid in its war against Russia. The law determines the legal status for crypto assets and the market regulators — the National Bank of Ukraine and the National Commission on Securities and Stock Market.

EU and cryptocurrencies: Three European financial regulators, the European Banking Authority, European Securities and Markets Authority, and European Insurance and Occupational Pensions Authority issued a joint press statement Thursday warning consumers of the risks of the emergent asset class.

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