Headlines
▌Bitcoin denominated in Japanese yen, British pound and other currencies hit a record high
While Bitcoin is still below its November 2021 all-time high in US dollar terms, BTC has broken all-time highs in local currencies in many markets around the world.
Since November 2021, the U.S. dollar index (DXY) has risen by 10.7%, which means that the currencies of many countries around the world are depreciating. Countries where Bitcoin has reached new local highs include economic powerhouses such as China, Japan, the United Kingdom and India, as well as developing markets such as Argentina, Turkey and Egypt. The yen fell 24%, meaning Bitcoin had already hit an all-time high in the country before this week’s surge.
Nansen analyst Aurelie Barther said: "US economic growth remains exceptionally strong compared to Europe, the UK and Japan, which is supporting the dollar. However, this is less clear going forward as we see Following a string of weak U.S. consumption and housing data, the U.S. dollar index is pegged to cryptocurrency prices via interest rates."
▌Bitcoin 2 It rose nearly 45% month-on-month, the best monthly performance since 2020
As of the closing time of U.S. stocks on February 29, New York time, Bitcoin closed up nearly 45% in February, which was the first consecutive month. The six-month gain was also the best monthly performance since December 2020. Ethereum rose more than 47%, marking its sixth consecutive month of gains and its best month since July 2022.
February has been a historically strong month for both Bitcoin and Ethereum. According to data from CoinGlass, Bitcoin has been profitable in February 10 times in the past 12 years, with an average return of 15.68% for the month. Ethereum has closed higher in February 7 times in the past 8 years, with an average gain of 17.21% in February.
Quotes
As of press time, according to coinmarketcap data:
The recent transaction price of BTC was 61,302.1 US dollars, with fluctuations during the day. Frame-2.32%;
ETH Recent The transaction price was US$3346.38, and the intraday increase or decrease-3.52%;< /p>
BNB’s recent transaction price was US$399.5, with an intraday increase or decrease of -2.01% strong>;
ORDI’s recent transaction price was US$70.846, with an intraday increase or decrease-4.72%;
The recent transaction price of DOGE was US$0.1172, with intraday gains and losses-12.68%;
SOL’s recent transaction price was 125.81 US dollars, with intraday gains and losses-4.98%.
Policy
▌U.S. House of Representatives panel votes to reject controversial SEC custody Guide
The U.S. House Financial Services Committee voted to adopt a resolution opposing the SEC’s controversial Staff Accounting Bulletin 121 (commonly known as SAB 121). SAB 121 requires regulated financial institutions to mark customers’ crypto assets on their own balance sheets. During the vote, 31 members of the two parties voted in favor and 20 members voted against. Each member also voted in favor of a bill that would provide the U.S. Secret Service with more resources to investigate illegal activity and cybercrime related to cryptocurrency.
It is reported that all members of the House of Representatives and the Senate must vote for the resolution to take effect. If it takes effect, it will prevent the US SEC from issuing similar guidance in the future.
▌The Governor of the Central Bank of Brazil: The G20 is discussing technical issues related to the creation of digital currency
The Governor of the Central Bank of Brazil said, The G20 is discussing technical issues regarding the creation of digital currencies and will continue to discuss cross-border digital transactions at the G20 meeting in order to allow many countries to adopt them.
Blockchain Application
▌SynFutures launches V3 version on the Blast mainnet, planned within the year Launch of native token
SynFutures, a decentralized derivatives exchange focusing on crypto perpetual futures trading, has launched its V3 platform on the Blast mainnet. SynFutures also launched a point reward called Oyster Odyssey plan. SynFutures said its V3 users will also be eligible for the upcoming Blast airdrop.
SynFutures also plans to launch its own token this year, a source with direct knowledge of the matter said. When SynFutures raised $22 million in a Series B round of funding last October, it said at the time it was willing to launch its token as part of its roadmap for decentralized projects.
▌Metis will integrate Chainlink’s interoperability solution Chainlink CCIP
Ethereum L2 network Metis plans to integrate Chainlink’s Interoperability solution Chainlink CCIP, the team said that as part of this integration, the Metis bridge interface will be upgraded to leverage Chainlink CCIP as the official cross-chain infrastructure to power the canonical Metis token bridge, with an initial focus It bridges some mainstream stablecoins from the Ethereum main network to the Metis network.
▌The Blast mainnet is now online
The L2 project Blast mainnet is now online. The team said that $2.3 billion in TVL funds and 181,888 community members will be released to the Blast mainnet, mainnet users will continue to earn Blast points, and mainnet Dapps will now be able to earn Blast Gold. 50% of the Blast airdrop is allocated to Blast Points (users), and 50% is allocated to Blast Gold (dapps). Gold will be distributed to Dapps every two weeks. By connecting to the Blast mainnet, users can earn native income, Blast points, Blast Gold and Blast native Dapp airdrops.
▌The Casper blockchain will undergo a Casper Juliet upgrade
The Casper blockchain will undergo a Casper Juliet upgrade. This time The upgrade is primarily for security and efficiency, which it will achieve by establishing a new network layer equipped with a backpressure mechanism, which will improve Casper's ability to withstand periods of high traffic. In addition, a new network layer is designed to enhance Casper's security and is designed to protect the network from potential threats and attacks without sacrificing efficiency. Juliet provides customizable data transfer settings, allowing builders and users to tailor the data transfer to their specific needs. Customize network performance.
Following Juliet, Casper will launch Condor, the final upgrade of the Casper protocol roadmap to Casper 2.0.
▌Crossmint acquires NFT payment infrastructure company Winter and launches cross-chain payment products
Enterprise blockchain platform Crossmint has acquired Winter, an NFT payment infrastructure startup backed by Y Combinator. Crossmint did not disclose the size of the transaction. Co-founder Rodri Fernandez said the source of funds for the transaction was cash.
As part of the acquisition, Crossmint also launched a new cross-chain payment product, which allows users to purchase NFTs from any chain in one transaction and pay with any cryptocurrency, through Crossmint’s With the checkout function, users can purchase NFTs on different chains through one transaction in a few seconds at a very low cost.
Cryptocurrency
▌< /strong>Bloomberg: Merrill Lynch and Wells Fargo offer spot Bitcoin ETFs to wealth management clients
Bloomberg quoted people familiar with the matter as saying that Bank of America’s wealth management unit Merrill Lynch and Wells Fargo are offering spot Bitcoin ETFs to wealth management clients, underscoring the growing acceptance of such products by mainstream firms. A Wells Fargo representative confirmed that since the SEC approval, the spot Bitcoin ETF can be purchased actively through Wells Fargo Advisors or the bank’s online WellsTrade platform. Representatives for Bank of America declined to comment.
Morgan Stanley is evaluating adding a spot Bitcoin ETF to its platform, according to CoinDesk.
▌Galaxy Digital CEO: BTC may fall back to around $50,000 and then hit new highs< /strong>
Galaxy Digital founder and CEO Michael Novogratz said that Bitcoin may see some corrections before rebounding to record levels and "significantly higher" by the end of the year. He said: "I wouldn't be surprised if we see some corrections and consolidation, and if there is a pullback, it may be a pullback to around $50,000 and then a new high." Novogratz also predicts that spot ether will An Ethereum ETF is set to receive SEC approval sometime this year, and Galaxy, in partnership with Invesco, is one of the applicants seeking to offer an Ethereum ETF.
When asked about the timetable for Galaxy to be launched in the United States, he said that the United States has had an "unfriendly regime" for the past four years, and he did not think this situation would be possible after the election. will change.
▌The CEO of asset management giant Vanguard will retire at the end of the year. Crypto stance sparks heated discussion
According to the official announcement, asset management giant Vanguard CEO Tim Buckley will retire this year and is currently looking for a successor.
Although many Wall Street financial institutions have or are preparing to provide spot Bitcoin ETFs to customers, Vanguard has refused to provide this product due to risks. Buckley’s departure has the crypto community speculating on whether it is related to his crypto stance and whether the new leadership will change its attitude.
Bloomberg analyst James Seyffart pointed out that Vanguard’s ETF VOO, which tracks the S&P 500 Index, has attracted US$15.7 billion in net new funds so far this year and is the first BlackRock spot Bitcoin ETF ( IBIT) twice.
▌Bloomberg Analyst : Bitcoin will “spiral upward”
Bloomberg senior ETF analyst Eric Balchunas said that Bitcoin will “spiral upward” due to the huge trading volume and low supply of ETFs. . He said: “Because BTC is a scarce asset and not many people trade it, people just hold it, and its circulation is very small. The more demand for ETFs, the greater the impact on circulation. The more floating is affected. If the price increases, the price will rise, which will create more demand, and Bitcoin may experience an upward spiral for a period of time." Balchunas warned that ETF volume may not remain at current levels. , prices face the risk of a correction.
▌Founder of Galaxy Digital: Bitcoin prices will rise sharply next year compared to now
Founder of cryptocurrency investment company Galaxy Digital Novogratz said that crypto assets are at bubble levels and we may see some corrections and consolidation in Bitcoin. Bitcoin is attracting a "new army of buyers" and the price of Bitcoin will rise significantly next year compared to now.
Important economic news
▌U.S. stocks closed: MicroStrategy rose more than 6%
U.S. stocks closed on Thursday, with the Dow Jones Industrial Average initially closing up 45 points, or 0.1%, and the S&P 500 Index rising 0.5%. The Nasdaq rose 0.9%. Nvidia (NVDA.O) closed up 1.8%, Arm (ARM.O) rose 5%, and AMD (AMD.O) rose 9%. Marathon Digital (MARA.O) closed down 16%, while MicroStrategy (MSTR.O) rose more than 6%. The Nasdaq China Golden Dragon Index fell 0.2%, Xpeng Motors (XPEV.N) rose 7.9%, NIO (NIO.N) rose 5%, and Li Auto (LI.O) rose more than 1%.
Golden Encyclopedia
▌Block Rewards
< p>Block rewards are a key component in supporting the decentralized nature of cryptocurrencies and have enormous symbolic and functional importance. Basically, block rewards are fees paid to crypto miners for adding authorized transactions to the network. This process, known as mining, involves completing challenging mathematical puzzles, increasing the network’s computing power and maintaining the integrity of the distributed ledger.
Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.
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