HOW IS THE WAR IN UKRAINE AFFECTING THE CRYPTO MARKET?
Hello in March!
I invite you to summarize the last week, unfortunately wrapped in a lot of difficult news and some practical information.
- Bitcoin (BTC) broke through the $40,000 mark again today, after being rejected at the same level over the weekend. The breakout came on a good day for both BTC and the cryptocurrency market as a whole, with most coins in the green over the past 24 hours.
At 16:43 UTC, BTC was at $41,133, up 5% in the last 24 hours and up almost 7% in the last 7 days. Ethereum (ETH) was trading at $2,825, up 2% on the day and 7% on the week.
Crypto around the world
- OKEX EXCHANGE
Cryptocurrency exchange OKEx shared with Cryptonews.com its thoughts on what may lie ahead for the cryptocurrency market and which segments are most at risk. “The ongoing decline in cryptocurrency prices suggests that much of the potential collapse has already been priced into the market,” – said Rick Delaney, senior analyst at OKX Insights, the cryptocurrency market analysis team of the OKEx exchange.
However, he noted that a sudden recovery is “unlikely” as investors wait to see how the US central bank, the Federal Reserve, will adjust interest rates in light of recent geopolitical developments. Even in the longer term, we can expect “little fundamental change regarding cryptocurrencies as an asset class,” he added.
Several developers and executives who worked on Facebook’s now-sold stablecoin project Diem have announced a new venture that they say will be the “safest and most scalable tier-1 blockchain” called Aptos. As they add, the goal of this blockchain is to solve the problems of reliability, security and usability.
- In the wake of the Russian war against Ukraine, thousands of people have sent millions in crypto to help Ukraine. It has raised $18.6 million with almost $2 million of that coming from NFT sales. On Saturday, Ukraine’s government account said it was accepting donations in Bitcoin, Ethereum and USDT.
- Apple will allow businesses to accept contactless payments with Tap to Pay on iPhone Later this year, US merchants will be able to accept Apple Pay and other contactless payments simply by using an iPhone and an iOS app that supports the technology.
- E-commerce platform eBay may decide to start accepting cryptocurrency payments, TheStreet reports, citing CEO Jamie Iannone. The company may make the announcement on March 10 during a day dedicated to investors, it added.
- The US Department of Justice has indicted Satish Kumbhani, founder of the now-defunct BitConnect exchange, for allegedly misleading investors around the world and defrauding them of $2.4bn. He was charged with orchestrating what has been called a Ponzi scheme, as well as a number of other charges. He faces a maximum combined sentence of 70 years in prison.
- Following Western sanctions imposed on Russia over its invasion of Ukraine, cryptocurrency exchanges may soon be required to freeze the accounts of their Russian customers, according to Jesse Powell, CEO of Kraken.
Responding to a recent request made by Ukraine’s Deputy Prime Minister and Minister of Digital Transformation – Mykhailo Fedorov – who called on the world’s largest cryptocurrency exchanges to block Russian users from using their services, Powell said:
“I understand the rationale behind this request, but despite my deep respect for the Ukrainian people, [Kraken] cannot freeze the accounts of our Russian customers without a legal requirement to do so.”
What’s up in Mr.Advice?
- Live analysis and regular updates on Bitcoin and other cryptocurrencies are available in the Golden Keys product here. Daily several updates on the situation, with conditions given for each scenario!
- Zoom calendar in the new week:
Zooms with Aaron will take place spontaneously this week. Watch the Golden Keys channel on Telegram for updates.
- If you have proven money collections or you yourself are organizing help for refugees from Ukraine then let us know on Telegram @MrAdvice_Dzidzia and we will try to help.