The cryptocurrency market once again exceeds $2 trillion in capitalization, after a rise of more than 12% in the last few hours. This and more news in this practical summary daily so that you are always informedwith events most latest that occur within the crypto world.
Cryptocurrencies and altcoins
📍Cryptocurrencies start March with a 12% rise. The cryptocurrency market has risen 12,4% in the last few hours, exceeding the 2 trillions of dollars in capitalization. Bitcoin (BTCEthereum ()ETH) y Binance Coin (BNB), currently the most capitalized cryptocurrencies in the industry, have grown 15,2% on average in one day. The daily trading volume of these three cryptocurrencies exceeds $60.800 billion at the time of writing.
The rise of the crypto market coincides with the tightening of sanctions against Russia. The Russian ruble has fallen to record lows against the US dollar, the United States and the European Union have ordered the country's banks to be removed from the international financial communications network SWIFT, and private companies are beginning to close their services in Russia. To counter the measures, the Russian government has ordered to double its interest rates, implement capital controls and limit the amount of money that can leave the country, as reported CNBC. The current situation in Russia threatens to start a major bank run.
Among the cryptocurrencies with the highest daily growth are Waves (WAVES), Near (NEAR), Axie Infinity Shards (AXS), Phantom (FTM) y Theta Network (THETA), with an increase in its unit value of more than 25% in the last few hours.
Bitcoin and Blockchain Adoption
📍State Street will launch new services for cryptocurrency custody. State Street, one of the largest and oldest banks in the United States, is preparing to offer crypto custody services to its clients and investors. Of agreement With Bloomberg, Nadine Chakar, executive vice president and head of the State Street Digital division, believes that cryptocurrencies have great potential to become a safe haven asset. Chakar said the bank is working with the country's regulators to launch its new services and give a major boost to cryptocurrencies. “The moment we get the go-ahead, we will be ready”He said.
📍The number of Bitcoin addresses with a balance of more than 1.000 BTC grew 5% in the last week. Julian Hosp, CEO of Cake DeFi, highlighted on his Twitter account data from Coin Metrics that shows the sudden increase in the number of Bitcoin addresses with more than 1.000 BTC in their possession. In the last week, nearly 150 new BTC addresses have been added, each with a balance of over $44 million currently. Hosp speculated that this increase may be related to a rebalancing in crypto exchange or custody services or, alternatively, mean the entry of new investors and millionaires, possibly Russian, who want to escape the consequences that the measures and sanctions implemented against Russia will have. .
NFT and DeFi Markets
📍Auditing firm KPMG Canada made its official entry into the world of NFTs. The Canadian subsidiary of the global audit services network KPMG has invested $70.000 in the acquisition of an NFT from the crypto collection world of women, developed to promote equality and inclusion in the world of art and NFTs. At the beginning of last month, KPMG revealed that it had added bitcoins and ethers to its corporate balance sheet, as a key move to enter the blockchain industry, targeting cryptocurrencies, DeFi, NFT and the Metaverse as an essential part of your future.
world of women is a collection of 10.000 female NFTs released in July 2021. Recently, one of the NFTs in this collection, created by artist Yam Karkai, was auctioned for more than $750.000 at Christie's to commemorate March as “Women's History Month.” The current minimum sale price of these NFTs is 8,9 ETH, about $26.500, on the Opensea market.
📍CryptoGreymen, a collection of identical NFTs created to enumerate the world's population. Artist Dadara has created a collection of identical NFTs on the Polygon network just for the purpose of listing the number of people in the world. Therefore, this collection reaches 7.900 billion, which is the estimated world population that currently exists.
Development and Technology
📍MetaMask could issue its own token in the future. Jacob Cantele, chief operating officer of MetaMask, said during the ETHDenver 2022 conference that the Ethereum wallet considers the issuance of its own token an “important aspect.” However, he also indicated that there is still no roadmap in this regard and that it will not be something improvised. Rather, Cantele explained that the wallet would not risk giving governance to users just to make money quickly, but will instead be focused on achieving true decentralization, progressively and in the right way.
Policies and Regulation
📍Europe gets rid of reform that sought to ban PoW cryptocurrencies. European parliamentarian Stefan Berger confirmed that the reform that sought to prohibit the use and mining of cryptocurrencies based on Proof of WorkPoW) has been removed from the MiCA law. On his Twitter account, Berger confirmed that the proposal is no longer present in the draft law. However, he recalled that this has not yet been voted on and that no decision has been made on it.
Continue reading: eBay CEO Hints That Platform Could Announce Cryptocurrency Payments This Month
