Now, the RMB accounts for 3.2% of all transactions worldwide, up from 2% in November. Citing data from SWIFT, traditional finance's closed ledger for interbank fund transfer, China media said the value of RMB payments increased by 10.85% compared with December. PetroYuan, Digital Yuan, More Like One Big Yawn!Īs last week came to a close in Asia, Chinese state media reported that China’s currency, the renminbi, was on the rise. "While Bitcoin is largely flat for February, Solana is still down, so its recovery simply returns it closer to parity of gains and losses for other crypto assets." Insights He noted that Solana was the only altcoin among the top 20 by market cap on the CoinDesk price page to rise over the weekend, reflecting "some strength from investors due to being a Proof of Stake protocol." But DiPasquale called that increase "simply price recovery" because Solana had fallen more sharply than Bitcoin and other altcoins. OpenSea said in a separate tweet that it was investigating the incident.ĭiPasquale sees the next Bitcoin support line at about $35,000. Separately, in a late Saturday tweet, OpenSea CEO Devin Finzer wrote that “32 users thus far have signed a malicious payload from an attacker, and some of their NFTs were stolen.” Finzer suggested that a fraudulent website may be to blame. All of these false-flag operations, all these provocations to create justifications - all that is already in train.” Meanwhile, investors were gearing for the first of what is expected to be several Federal Reserve interest rate hikes. Secretary of State Antony Blinken told CNN's State of the Union talk show that “everything leading up to the actual invasion appears to be taking place. intelligence reported that Russia had already decided to invade Ukraine. ![]() Ether, the second largest cryptocurrency by market capitalization, was changing hands at slightly over $2,600, off nearly 4% and its lowest point since the first week of the month. Ether and almost all other major cryptos also dropped.Ī possible exploit of OpenSea, the leading NFT platform, may have further frightened investors away from crypto.Īll these factors may have "led investors to risk-off from crypto," said Joe DiPasquale, the CEO of fund manager BitBull Capital.Īt the time of publication, bitcoin was trading at around $38,700, a 3.3% drop over the past 24 hours and its lowest level since Feb. ![]() Bitcoin tumbled below $40,000 in the early weekend hours and kept dipping amid rising tensions on the Ukraine-Russia border and continued inflationary fears.
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