Crypto digest from the Trust in BTC project from February 21 to 27, 2022.

Crypto digest from the Trust in BTC project from February 21 to 27, 2022.

What did the past week from February 21 to 27, 2022 bring to the crypto world and the crypto industry? As usual, we asked experts and analysts to Trust in BTC (trust-in-btc.com ) to summarize.

THE REACTION OF CRYPTO MARKETS TO THE SPECIAL OPERATION OF THE RUSSIAN ARMY

At the beginning of last week, the bitcoin exchange rate sank significantly, dropping to a local low of $37,200. The participants of the crypto market did not have time to catch their breath, as the fall continued to the level of $ 35,000 per unit of cryptocurrency after Russia launched a special operation on the territory of Ukraine. The "digital gold" was followed by the entire digital market. Most of the digital assets from the top 10 by market capitalization closed the week in the red zone. The exceptions were Ethereum (+0.3%), Terra (+51.4) and Polkadot (+1.9%). The token of the decentralized staking service Convex Finance has fallen in price more than others. The CVX price dropped by 19.87% to $19. It is worth noting that by the end of the week, the bitcoin exchange rate still came out of the peak and returned to $39,000 per unit. Many analysts are of the opinion that for investors who are set up for the long term, the resulting volatility may be a good opportunity to buy. Bitcoin continues its long-term uptrend, while outpacing gold. The total capitalization of the cryptocurrency market was $1.86 trillion. The bitcoin dominance index rose to 39.98%.

NEW PROSPECTS FOR CRYPTOCURRENCIES

Cryptocurrencies can help Russian companies cope with the economic sanctions that the Western world tirelessly prescribes. Experts believe that against the background of a new round of restrictive measures, Russian companies are preparing to mitigate some of the worst consequences by "concluding deals with everyone who is ready to work with them." Restrictions on currency transactions may become an incentive for the mass use of digital currencies, writes The New York Times. There are prospects for the digital ruble. According to the publication, the digital ruble can be used in direct trading without prior conversion into dollars and without detection. The platform for the Russian cryptocurrency was developed in 2021, it is assumed that non-residents will be able to use it. As an example, North Korea and Iran are used, which successfully use similar tactics.

THE LOVE OF MONEY IS STRONGER THAN ART

The auction for the sale of a set of 104 NFT of one of the most popular CryptoPunks collections did not take place. An anonymous seller of a set from the collection withdrew the lot from Sotheby's auction at the last moment. The reasons for not very correct behavior are banal: the owner of collectible assets under the pseudonym 0x650d did not want to sell them because of the price drop, and at the same time raised a media buzz around the collection. Many prominent representatives of the crypto community, however, did not appreciate this demarche. Compound founder Robert Leshner called the day of the auction cancellation a sad day for digital art collectors. The creator of the RugRadio media project under the nickname Farokh.eth wrote that 0x650d made all industry participants look stupid. In December 2021, NFT CryptoPunk #4156 was sold for 2500 ETH (~$10.26 million at the time of the transaction). In February, token #5577 from the collection was purchased for 2501 ETH (more than $7.8 million). Presumably, the buyer was Robert Leshner.

THE EXCHANGE RATE OF THE GLT TOKEN OF THE TRUST IN BTC PROJECT SHOWED AN INCREASE OF 5.8%

After a fairly deep correction in January and until the last decade of February, the GLT rate began to grow. Over the past week, the exchange rate added 5.8% of the value or +0.75 USD. The exchange rate for February 28, 2022 is 13.649 USD. Recall that during the work of the project since the beginning of 2020, the GLT rate has increased by 1273%. Learn more about the project statistics and opportunities for participants at trust-in-btc.com .

If you are not an experienced market participant and do not know how to get acquainted with the possibilities of cryptocurrency instruments, then in the Trust in BTC project you can simply purchase GLT and monitor the result. GLT is an internal token of the project, balanced by various crypto assets from the Top-100 isntruments according to coinmarcetcap.com You can register on the project's website trust-in-btc.com and get advice from an experienced participant-mentor online.

*Attention! The author's point of view is given. This text is not an instruction for action and does not carry direct or indirect recommendations for certain actions for the purchase/sale of financial assets.



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