Bitcoin increases to $ 19,000, Ethereum Liquid Staking Coins Surge, FTX localized assets worth 5 billion USD: Weekly review
Bitcoin increases to $ 19,000, Ethereum Liquid Staking Coins Surge, FTX localized assets worth 5 billion USD: Weekly review
In the past seven days, the cryptocurrency market has exploded in relation to price movements, and the overall market capitalization is currently around $ 950 billion, which corresponds to an increase of over $ 100 billion during this period. The market reacted positively to the publication of the VPI numbers that met the expectations.
This happened against the background of many cryptocurrencies, including Bitcoin, which have risen by a whopping 14.3 % in the past seven days. At the time of writing this article, BTC hovers over $ 19,000 after it has increased by over 5.5 % in the last 24 hours alone. This is an impressive performance, and you can tell.
The dominance of Bitcoin, which is usually used to measure its share in relation to the rest of the market, is almost 39 % and has increased significantly in the last seven days. This signals that BTC has succeeded in surpassing the Altcoin market during the period. Speaking of the latter: ETH also increased by about 13.6 %, BNB increased by 12 %, as did Doge. Cardano and Solana performed better because they recorded both profits of over 20 %.
While we are still on the subject of old coins, it is impossible not to mention the Liquid Staking protocols from Ethereum, such as Lido (LDO), Frax (FXS), Stafi (FIS), Stakewise (Swise) and others. Most of these cryptocurrencies have increased by over 70 % last week, since the long-awaited Shanghai upgrade for Ethereum is to take place somewhere in March. It will enable players to withdraw their ETH from the Beacon Depositor Contract, and the narrative seems to be that platforms that enable the liquid stake in ETH will benefit from it.
In addition to price-related developments, there are further news on the FTX front in the meantime. It seems that the stock exchange was able to "localize" liquid assets worth around $ 5 billion and more in assets from which it admitted that they would be difficult to liquidate. That gives the millions of creditors of the bankrupt stock exchange a little hope.Sam Bankman-Fried also published a blog on the question of insolvency the stock exchange, but revealed nothing that he or the liquidators had not previously disclosed.
All in all, the market seems to be on a recreational path and it is exciting to see whether it will continue in the coming days and weeks.
market data
Market capitalization: $ 950 billion | 24h volume: 74b | BTC dominance: 38.9 %
Bitcoin: 19.230 $ (+14.3 %) | ETH: $ 1,420 (+13.6 %) | bnb : $ 288 (12.5%)
The crypto headlines this week should not be missed
Binance secures official approval in Sweden. The world's leading cryptocurrency exchange according to users and trading volume - Binance - has received Swedish approval to operate as a financial institution for administration and trading in virtual currencies. Sweden becomes the seventh EU jurisdiction, the Binance gives the green light.
Coinbase releases 950 people, citing the current economic climate. The crypto exchange Coinbase based in the USA continues to have people released and this time releases 950 of their employees. CEO Brian Armstrong said that some of the reasons were the current economic climate and its efforts to optimize the operating costs.
The Shanghai Public testnet from Ethereum will come onto the market at the end of February. The excitedly expected Shanghai upgrade seems to be right around the corner. Developers see March as a publication date. ETH stakers will enable their tokens from the Beacon Depositor Contract.
FTX localized assets of $ 5 billion, says lawyer: Report. At the beginning of this week, an insolvency lawyer announced that FTX managed to localize assets worth over $ 5 billion. This does not include the $ 450 million that secures the Securities Commission of the Bahamas.
reports reported by authorities Bulgarian Nexo offices. The popular cryptocurrency loan Nexo saw how his Bulgarian offices were searched by local authorities. The public prosecutor's office has initiated a preliminary procedure and investigates the company, among other things, for money laundering, tax fraud, computer fraud.
improved Bitcoin volatility because the US VPI numbers are 6.5 %. The US Bureau of Labor Statistics published the CPI numbers for December and they match the expected 6.5 %. This is the most frequently used key figure to measure the country's inflation level.
diagrams
This week we have a chart analysis from Ethereum, Ripplecardano, Binance Coinund Solana - click here for the full price analysis.
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