Market Wrap: Bitcoin, ETH are expanding profits, while the stock markets continue to fall

Market Wrap: Bitcoin, ETH are expanding profits, while the stock markets continue to fall

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While Bitcoin pushed up further, the stock markets deepened their descent, which caused some to speculate that Bitcoin could regain his status as a risk -free, safe port.

"I see that Bitcoin is going to pass from a risky to a risky asset, and so far the crypto has made good progress in this way in 2022," said Mike McGlone, Senior Commodity Strategist at Bloomberg Intelligence.

others found that Bitcoin may be best cutting.

"If freedom and individual freedom are threatened, the price of Bitcoin is increasing," said Antoni Trenchev, co -founder and managing partner of Nexo.

The S&P 500 fell by 1.55 %, while Nasdaq and Dow decreased by 1.63 % and 1.76 %.

Bitcoin, ether and the majority of the great cryptocurrencies pushed further up. Bitcoin rose by over 2 % until the end of stock trading and has thus increased to well over 14 % in the last five days. Ether rose by 1.44 % and has also increased by more than 14 % in the last five days.

The biggest winner of the day among the top coins on the cryptom market was Rune, which has recorded an increase of over 32 % in the past 24 hours.

Top stories

story: In one of the largest crypto raids in Africa, the South African stock exchange takes $ 50 million

• "There is no doubt about the effects of crypto systems on our global financial system," said Farzam Ehsani, CEO and co -founder of Valr
• Valr has processed a trading volume of over $ 7.5 billion in 2019

story: Electric Capital collects $ 1 billion to start crypto venture and tokens finds

• The company will concentrate on Daos, NFTS, Defi, Decentralized Infrastructure and accessibility in Web3
• "The web3 economy that builds on the programmable stack of money will be one of the decisive disorders of the 2020s," Avichal Garg, founder of Electric Capital

Story: Subspace Labs collects $ 33 million led by Pantera Capital for further web3 efforts

• The developer wants to build a new team by using the funds used for its Meta Services Productsuite, which is aimed at prospective web3 developers
• The developer said that he aims to serve as an infrastructure layer for "the entire web3 ecosystem".

story: With the greatest NFT-supported loan of all time, 101 cryptopunks were provided as security

• The loan was completed by the NFT liquidity scaling startup metastreet on the credit platform NFTFI
• "By having an active borrowing and credit market [in NFTS] they create productive assets that are otherwise considered unproductive," conor Moore, co-founder of Metagreet, told Blockworks

go forward

Since the markets in the middle of the conflict in Ukraine will probably remain very volatile, it will be difficult to say whether Bitcoin really becomes a risk -averting asset. Jerome Powell's planned statement before the congress on Wednesday only contributes to uncertainty.

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The Post Market Wrap: Bitcoin, ETH Extend Gains As Equity Markets Continue to Fall is not a financial advice.