Bitcoin (BTC) rebounds 3.30% to 38.2k as investors remain hopeful downward pressure is subsiding.
Luna/bitcoin (LUNA/BTC) pair highlights recent strength in LUNA token compared to BTC. LUNA price has gained 17% over BTC price in the last three days.
https://www.tradingview.com/chart/v7j9tiND/
The second most bullish chart comes from Will Clemente:
The capital of bitcoin, El Salvador, is also seeing some bullish momentum!
The sun might be shining in San Salvador, but anyone hoping to pay a visit using their Web3Memes profits might have to change plans after a pretty brutal rug pull!
Alex Becker points out what perhaps others aren’t brave enough to say: namely, that the Ukraine conflict may actually suit the US government’s predicament right now:
Just over the border, Canada might be imposing sanctions on Russia in the name of democracy, but meanwhile, it’s publically (and shamelessly!) undermining the integrity of its own with its commitment to the Emergencies Act.
Some US politicians are even pointing this hypocrisy out in a bid to drive the Keep Coins Act policy proposal!
Notable gainers
Hedera (HBAR) $0.23 +15% (possibly referenced by Elon Musk tweet)
Terra (LUNA) $56.43 +15%
Quant (QNT) $116.06 +14%
Arweave (AR) $27.01 +13%
Avalanche (AVAX) $76.41 +12.5%
Render (RNDR) $2.55 +12.6%
Games and metaverse gainers
The Sandbox (SAND) $3.20 +11.2%
Decentraland (MANA) $2.66 +10%
Axie Inf. (AXS) $51.05 +8%
YGG (YGGO $2.90 +15%
Bitcoin Fear and Greed Index: 25 Extreme Fear (+5)
Bitcoin “Google” Trends: 43 (+5)
Bitcoin “Crypto” Trends: 32
Major crypto news
- The U.S. Court of Appeals has reversed the dismissal of the Bitconnect Scam case which holds implications for advertising crypto scams in a non-targeted manner on social media platforms.
- Grayscale launches a public campaign to encourage American investors to submit comments to the SEC concerning a spot-bitcoin ETF approval.
- Luna Foundation Guard raises $1 billion in a private token sale to establish a reserve to support the peg of stablecoin $UST.
- Bill to regulate crypto in Brazil heads to the Senate floor for voting in what stands to be an essential adoption measure in South America’s most populous country.
Notable events
- Proposal to extend Lido liquid staking protocol to Avalanche has passed. Lido currently supports Ethereum, Terra, and Solana.
- zkSync announces public testnet launch of EVM-compatible ZK rollup on Ethereum testnet.
Banter’s take
The markets appear (for now) to be settling in respect to the unfolding geopolitical tensions. In fact, we’re seeing signs of some positive price action, with certain altcoins showing impressive relative strength. Stablecoin supplies on exchanges are at all-time highs, suggesting a lot of money is sidelined and ready to be deployed. In the meantime, the US inflation crisis continues, and Canada keeps cracking down on civil liberties. Could we see a mass migration to a crypto-friendly Caribbean nation any time soon?!
