It is Match 9th, and we are talking about the current situation, and the choices that we make, for the #marchinleo theme. It is a bull market, as many said, and now is the time to get some profit back, and prepare for the next bear one. Most profits are moved into stablecoins, a small amount sent monthly to the bank. This is the year when all the money invested into crypto is back in the bank account. Full recovery 100% back. I am not that far, despite the previous not-so-lucky year.
What happened in the past week? Ordinals are moving a lot of money around. Solana is solidifying its position. ETH ETFs are not here yet. What else? Read below:
- Bitcoin: Taiwan is tightening the rules for digital assets, but they are close to giving a go to the spot BTC ETFs. The Runestone - a landmark inscription on the BTC blockchain, is going up for auction, with the proceeds going straight to BTC miners to cover the network fees for its upcoming airdrop. Elon is no joke either, as Tesla and SpaceX have more than $1.3B worth of BTC in their wallets, according to Arkham. JPMorgan is kind of being the party pooper, kicking and saying that BTC going up so much may make the Feds think twice about cutting the interest rates. Do they want some Bitcoin at a discount price? Bitcoin volatility index surged to a 16-month high as the price is getting close to a new record. The US BTC ETF inflows maintained momentum in February, as the trading volume topped $10B in a day. BlackRock and Fidelity ETF volumes alone rised over 500% month-to-month. Bitcoin surged in South Korea to a 27-week high on Wednesday.
- Ethereum: Optimism's latest update, Delta, decreased the costs considerably by consolidating data before reaching the ETH mainnet. Ethereum NFTs were overtaken by the BTC ones in weekly sales. In a completely expected move, the SEC delayed the decision on spot ETH ETFs from BlackRock and Fidelity. Yet, ETH did reach an all-time high after the ETHDenver event.
- Altcoins and stablecoins: Doge went 77% up first, pushing it to 95% the next day, following the tradition, as this token always went up before BTC halved. Not the only memecoin to go up, as 90% of the FLOKI users voted to burn $11M in tokens, leading the price to a 300% raise. Talking about silly tokens, Dogwifhat (WIF) gained the top place on Solana, only to be taken over once again by BONK. Decentralized exchanges on Solana reached more than $11B in trades last week. This can be only the beginning. Pantera Capital wants the discounted SOL tokens from the bankrupt FTX, for a 39% below the average price, but they need to commit to up to four years vesting period. Wormhole Bridge is getting ready for an airdrop soon, a mysterious W token being presented as a work in progress. Tether (USDT) reached a $100B market capitalization, is anyone worrying about this one? To make me feel bad, they even launched a USDT recovery tool that you can use to get your lost crypto if you were affected by any of their 14 blockchain disruptions. The Federal Reserve Chair, Jerome Powel, declared that there are no immediate plans for an US CBDC.
- NFTs and blockchain games: On Splinterlands, the first round of Conflicts airdrop activity ended. The second part of the Conflicts airdrop already started. One wagon can be bought with 50 Vouchers (around $2.30, less expensive) and deposit up to 5 cards and 100 Rebellion packs to get Airdrop points. You may also want to check Holozing - a soon-to-be-launched Pokemon-like game on the Hive blockchain. Magic Eden became the top NFT platform in the trading volume chart, overtaking Blur, as they introduced Bitcoin Ordinals.
- Good news: MicroStrategy is planning to offer $700 in convertible notes, with the option to convert the note into shares, with a 21% premium over the current market price. The Philippines is working with the Central Bank to create a wCBDC called BSP, ready by the end of 2024. And they swear that this is not made to survey how its citizens are spending crypto. Hong Kong is also all about a CBDC, but theirs is more about helping with asset tokenization, turning everything from green bonds to carbon credits into digital tokens that can be bought, sold and traded. SafePal invested in a Swiss bank called Fiat24, in a bold move aiming to make crypto-to-cash conversion available for its wallet. Deutsche Borse, the Frankfurt-based stock exchange operator, just launched a spot crypto exchange for institutional investors. The digital asset AUM rose 27% to 75B in February. BlockFi will receive $185.2M in claims against FTX, with another $688M to come from Alameda Research, and they will start to pay creditors next week, using Paypal or alternatives.
- Bad news: Police in the UK can now confiscate your crypto if you are suspected of crimes, with no conviction required. Indonesia now, every crypto trade adds a 0.11% VAT fee and a 0.1% income fee, generating $2.5M in taxes last month for the government. Despite this, they got 11% more crypto holders than last year.
- Joke of the week: Meta is changing plans again, letting go of its Metaverse full of cartoonish avatars and virtual dance parties, to focus on enterprise applications and AI this week. Maybe next week they want to go to Mars.
All the best,
George
Why not...
...have fun and win rewards on my favourite blockchain games (Splinterlands- Hearthstone-like card game) (Mobox - GamiFI NFT platform) (Upland - real-life virtual land) (Holozing - Pokemon-like game)and (Rising Star - Music creators game).
...Get ETH while writing on Publish0x blog, using Presearch search engine to maximize your income with PRE tokens. Use Torum instead of Twitter . I am also writing for crypto on Read.cash and Hive.
Posted Using InLeo Alpha