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ALPEX Global Weekly Newsletter — February Week 3

The highest-selling CryptoPunk to date was sold on February 12 for 8,000 ETH ($23.7 million). Twitter introduces Ethereum (ETH) tipping. These stories and more are in this week’s newsletter.

Starting off with — A rare CryptoPunk sold for 8,000 ETH ($23.7 million) on February 12, making it the most expensive CryptoPunk ever sold. The cryptopunk that sold was CryptoPunk #5822. In the collection of 10,000 NFTs, this is not only one of nine aliens, but also one of 333 that wears a bandana. CryptoPunk is now owned by Deepal Thapliyal, CEO of the blockchain startup Chain. Besides NFTs, he has collected other non-fungible tokens and bought a rare serum from the Mutant Ape Yacht Club for $5.8 million just a few months ago.

In other news, mobile users of social media platform Twitter can now submit Ethereum addresses (ETH) as tips. Users who appreciate content will now be able to reward favorite accounts not just in Bitcoin, but also in Ethereum.

On Wednesday, February 16, Twitter users will be able to receive potential tips in ETH. Just a few months ago, the social networking site launched Bitcoin tipping on mobile devices using the Lightning network. This added feature signals a strengthening connection between the popular social media platform and cryptocurrency. Twitter also announced last month that users of its Blue subscription service would be able to verify non-fungible token (NFT) profile pictures.

Furthermore, Last Thursday, the Ukrainian parliament passed a bill to legalize cryptocurrency, preparing a framework for the regulation and management of digital assets like Bitcoin. Government officials are hopeful that the new law will attract more foreign investment into Ukraine’s burgeoning crypto market, although fluctuating tensions with the country’s less crypto-friendly neighbor, Russia, might put a damper on capital inflows. On Thursday, media reported mortar shells struck a kindergarten in restive eastern Ukraine, with pro-Russia separatists blaming the strike on Ukrainian forces, and Ukrainian forces pinning blame on pro-Russia separatists.

Finally, Warren Buffett invested $1 billion in a crypto-friendly bank last week, years after calling Bitcoin rat poison. A portion of Berkshire Hathaway’s Visa and Mastercard holdings were divested and exposure increased to Nubank, the largest fintech bank in Brazil that’s also popular among Bitcoin investors.

The industrial conglomerate disclosed in a securities filing late in February that it had acquired $1 billion worth of Nubank Class A stock in Q4/2021. The company, on the other hand, sold shares of Visa and Mastercard worth $1.8 billion and $1.3 billion respectively, signaling its shift away from credit companies to gain exposure to their fintech rivals.

Every day, ALPEX Global provides market wrap — following analyses are based on keeping an eye on the markets and what we anticipate.

CoinMarketCap indicates a brief crash dropped Bitcoin’s price to $39,638 on Friday. Cryptocurrency bitcoin has fallen 1.21% overnight to around $39,975.50 — about 5% lower than last weekend.

The second-largest cryptocurrency Ethereum was trading at $2,733 on Thursday, down 5% from a day earlier and 6% from a week earlier. Over the last week, most of the top 30 cryptocurrencies declined in price, but only a few experienced significant price movement, such as Crypto.com Coin, which fell 10% to $0.44, and Litecoin, which fell about 8% to $115.

XRP was the only crypto to post a noticeable gain this week, rising to $0.82 with a gain of 6%. On Wednesday, Avalanche briefly reached a high of $97 before falling to about $84.

  • Disclaimer* Investment in cryptos carries various risks and is not suitable for all investors. Be sure to do your research thoroughly before making any decisions to invest.

MasterCard, on Tuesday, announced that it would provide banks and merchants with consulting services related to cryptocurrencies, NFTs, and loyalty programs. In the past, the financial services firm has developed crypto credit cards for Wirex and BitPay.

Government officials and the Russian central bank have been at odds over the best course of action regarding crypto legislation, with the central bank originally calling for a complete ban last month. A new draft law has been drafted by the government and the central bank to regulate crypto using the same framework that governs foreign currencies; banks will act as intermediaries between users and trading platforms. Crypto exchanges would also have to register as legal entities and meet all traditional financial institution requirements.

That concludes our weekly newsletter. Thank you for reading. We hope it was insightful and helpful. Stay tuned for more exciting news about crypto and blockchain next week.

Follow us on Facebook, Twitter, Instagram ,and Linkedin to stay up to date with all the latest news or visit our website.

TEAM ALPEX Global

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ALPEX is a globally renowned digital asset spot and derivatives trading platform, aiming to provide the most innovative, professional, smooth, transparent and trustworthy digital asset trading services for traders worldwide.

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ALPEX

ALPEX

ALPEX is a cutting-edge digital asset and derivatives trading platform, created to provide the world’s best and most secure online trading experience.

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