Bitcoin: Due to the confrontational situation between Russia and Ukraine last week, investors remained fearful and bitcoin recorded a 6 percent fall. According to a report in the Economic Times, bitcoin briefly traded above $44,500 in the middle of the week before financial markets were hit by rising geopolitical tensions. Bitcoin is currently trading slightly below the psychological level of $40,000, with a total market cap of $1.81 trillion.
All cryptocurrencies in the top 20 except Avalanche are in the red
The impact of the fall in bitcoin was also visible on Ethereum and it reached the level of around $2,700, with a weakness of 7 percent during the week. All cryptocurrencies in the top 20, except Avalanche, closed in the red on a weekly basis. Avalanche recorded a strength of 3 percent during this period.
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Even though this uncertainty will remain for the next few weeks, the news coming from across the world raises hope for the industry.
Crypto Bowl opens in the US, installations increased by 300%
The much-watched NFL’s annual playoff match in America was completely covered in crypto. Coinbase, Crypto.com, eToro and FTX spent millions of dollars on the program. According to Sensor Tower, a popular QR code ad to Coinbase with a $15 discount crashed its website, although its website saw a 309 percent increase in installs during the week.
more movement in america
The New York Stock Exchange (NYSE) has indicated plans to launch a marketplace for NFTs and cryptocurrencies like stocks. The NYSE submitted an application to the US Patent and Trademark Office last week, prompting Wall Street to accept it.
Lawmakers in the US state of Georgia have introduced a bill that would exempt local crypto miners from paying sales and usage tax in the state. If this bill is passed, it will encourage crypto miners to set up shop in the state. Other US states, Illinois and Kentucky, have also proposed tax exemptions on cryptomining.
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