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BTC crosses $24,000 after ages; market sentiment improves
Total market cap is now above $1.1 trillion
Deepan Datta
February 16, 2023
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Despite increased regulatory scrutiny, the crypto market was in for a bullish session on Wednesday. The total market cap crossed $1.1T, with an 8.5% day-on-day jump. For the first time in six months, BTC surpassed the $24K mark, boosting investor confidence. The Crypto Fear and Greed index rose 9 points to touch 62/100. The upmove suggests that BTC’s bull run may continue.
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*Last updated at 11:30 am, 16 February 2023
From the crypto news wires 📰
Content: Polygon has confirmed that the zkEVM mainnet beta launch will take place on 27 March. Sandeep Nailwal, Polygon’s co-founder, said that this will be “first fully EVM equivalent zk rollup” mainnet. The upgrade will help increase transaction speeds and reduce costs. Further details should emerge over the next few weeks. MATIC is up by 10.9% in the last 24 hours.
Content: Cardano is witnessing a huge spike in whale activity this month, analytics platform Santiment reveals. This month has seen around 1,700 transactions worth $100,000 or more per day. In comparison, there were only 300 transactions in January. The daily transactions have also risen compared to last month, with a 460% jump. Since the FTX collapse, whales have accumulated over 650M ADA.
Content: The Hub, the Cosmos ecosystem’s central chain, is preparing for the Rho network upgrade today. The upgrade will add a software module that will allow the global collection and distribution of transaction fees. By lowering the chances of validators colluding or misbehaving, the upgrade also improves network security. Rho sets the stage for the upcoming launch of the Interchain Security system.
Content: Hub71, Abu Dhabi’s technology ecosystem, announced a new initiative called Hub71+Digital Assets on Wednesday. Backed by capital amounting to $2B, the initiative extends financial support to unicorn-stage startups. The goal is to advance Web 3.0-based innovations, such as blockchain and metaverse applications. This is one of many efforts to establish the UAE as a Web 3.0 leader.
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