Key Takeaways

• Bitcoin (BTC) mining difficulty fell for the first time this year suggesting a reduction in the number of miner participants. Mid-week, the token rose to a high of USD 45,412 before closing lower at the end of the week.

• Polygon (MATIC) tweeted that their Layer 2 solution will be supporting Swiss city Lugano’s Crypto transformation.

• Ukraine’s Digital transformation minister cancels airdrop but announces NFTs in the near future. Ukraine’s total donation figure  crossed $30M last week.

• The general price, volume, and volatility indices were all negative at -1.48%, -6.39%, and -22.15%, respectively.

Highlights

• Swiss city of Lugano to make Bitcoin and Tether 'de facto' legal tender

• Convex Finance Bug Causes CVX Token to sink on forced Token unlock

• Ethereum miners generated $1.19 billion in revenues during February

• ConsenSys lawsuit reveals JPMorgan owns critical Ethereum infrastructure

• Apparent Ukraine WORLD Airdrop Might Be Spoof

• ConsenSys AG shareholders file for independent audit of MetaMask, Infura transaction

• Customer demand prompts Charles Schwab file for Crypto Economy ETF

• Polymer’s $3.6M in seed funding says IBC Is the future of Crypto

• Polkadot, Vechain founders pledge over $10 million in crypto to Ukraine

• Visa to launch Crypto payment for Latin Americans with Tribal

• China still accounts for 10% of Bitcoin transactions

• Shake Shack offering Bitcoin rewards for customers using Block’s CashApp

• Diagonal raises $2.5M for Web 3 subscription payments

• SandStorm heads to Polygon, Ethereum after $2.5M seed raise

• MetaMask, Infura block ‘certain areas’ amid crypto sanctions fury

Check the latest prices on Crypto.com/Price.

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Notable Events

Bitcoin (BTC) rose to a high of $45,412 before giving up its gains on the 28th of Feb, likely due to surmountable macro pressures from all fronts – geopolitical conflict, inflation, and a rising rates environment.

Thank you for reading! We hope you find our Weekly Market Update enlightening!

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