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The skies are clearing! Russia may be stepping down, metaverse adoption heats up, and crypto is making a run

Coffee. Banter. Go!

Crypto Banter by Crypto Banter
February 16, 2022
in Breaking News
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Coffee. Banter. Go!

● Ukraine invasion fears calming? 

● Metaverse adoption. 

● FOMC minutes.

● Market update.

● Major crypto news. 

● Notable events.

Ukraine “invasion” update

Well, Russian troops begin the journey back home. The invasion threat concluded as a big FUD (Fear, Uncertainty and Doubt) burger, and the markets turned bullish on the non-event. 

NEW: Russia's Defense Ministry says troops on the border with Ukraine are returning to their bases after completing drills.

"Feb. 15, 2022 will go into history as the day western war propaganda failed. They have been disgraced and destroyed without a single shot being fired."

— Alex Salvi (@alexsalvinews) February 15, 2022

Metaverse adoption

On another note, three major companies announced paramount news (below in the “Major news” section) regarding digital ecosystems, adding to the quickly growing list of metaverse participants. Additionally, last week, The Sandbox (SAND) land parcel release sold off in seconds, while Delphi Digital spotted trends in growing virtual land prices and volumes.

Companies/apps/projects participating in the metaverse:

FOMC minutes

Before we get ahead of the moment, let’s not forget about the Federal Reserve’s (Fed) minutes later today; the markets experienced some turbulence last time around. As we recently pointed out, many believe announcements are already priced in, and if the markets surmount this final hurdle, crypto has a clear avenue to the hills for the time being. Fed Minutes is scheduled for 09:00 EST.

So, you know what that means? It’s time to start prepping your portfolios alongside Ran and Sheldon!

Crypto market update

Always refer to Sheldon the Sniper for the final say on all charting-related material.

Bitcoin (BTC) climbed 4.56% to 44.1k today after Ukraine-Russian tensions showed signs of cooling off yesterday. Moreover, the volume has steadily increased, which strongly supports the current uptrend.

Figure 1 BTC 1D 

https://www.tradingview.com/chart/v7j9tiND/

Ethereum (ETH) experienced a significant 6.16% increase to $3,115. Ethereum dominance (ETH.D) climbed alongside by 1.79%, and the Ethereum/Bitcoin (ETH/BTC) chart shows Ethereum is gaining substantial ground on BTC today, up 2.44%.

Figure 2 ETH/BTC 1D 

https://www.tradingview.com/chart/v7j9tiND/

Glassnode spotted a significant deleveraging in futures open interest which bids well for spot prices.

Smart contract platforms are the top-performing category in the previous 24 hours. 

Avalanche (AVAX): $90.36 +12%

Fantom (FTM): $2.08 +10% 

Polygon (MATIC): $1.80 +10% 

Oasis Network (ROSE): $0.31 +9% 

Moonriver (MOVR): $97.97 +18% 

Telos (TLOS): $1.09 +17% 

Qtum (QTUM): $7.49 +16% 

Kadena (KDA): $8.30 +13% 

Moonbeam (GLMR): $5.13 +12% 

Other notable gainers 

The Graph (GRT): $0.47 +18%

Gala (GALA): $0.34 +18%

Axie Infinity (AXS): $63.59 +13%

Render Token (RNDR): $3.13 +14%

Metis Token (METIS): $147.59 +13%

Vader Protocol (VVADER): $0.039 +23%

BENQI (QI): $0.081 +34%

Bitcoin Fear and Greed Index: 46 Fear (0)

Bitcoin “Google” Trends: 25 (-7)

Bitcoin “Crypto” Trends: 22 (-8)

Major crypto news

● The largest Bank in the US, JPMorgan, has entered the metaverse by opening a lounge in Decentraland, and declares the metaverse a “$1 trillion per year market opportunity.” I’m sure that lounge will be a fun hangout. 

BREAKING: JPMorgan is the FIRST bank in the $MANA Metaverse

— Altcoin Daily (@AltcoinDailyio) February 15, 2022

● Josh Gottheimer, US representative from New Jersey, introduced a bill to legitimize and establish government-backed insurance for “certain” stablecoins. The bill might be the biggest news in crypto today, despite not having front-page potential. Legitimizing one of the largest assets classes in crypto progresses the entire sector.

👏 @RepJoshG’s bill represents the most well-thought-out stablecoin legislation we’ve seen. @BlockchainAssn looks forward to working with Rep. Gottheimer on these issues moving forward. https://t.co/fi86dXgVrf

— Blockchain Association (@BlockchainAssn) February 15, 2022

● The Bank of Russia looks to begin testing a digital ruble, a huge contrast to its previous intention to ban Bitcoin.

BREAKING: Russian Banks Begin Testing Digital Ruble Payments – Finance Bitcoin News

— stack – crypto dev tracker (@StackDotMoney) January 22, 2022
  • Mastercard dives deeper into blockchain technology by offering consulting services for crypto and NFTs. Mastercard is featured in the Forbes Blockchain 50 list for 2022, highlighting big players in the space.
  • Disney makes a giant stride into the metaverse by creating a new role dubbed “Senior Vice President Next Generation Storytelling and Consumer Experiences” to oversee plans.
  • The New York Stock Exchange (NYSE) has filed for trademarks based on NFTs, virtual goods, digital art, and cryptocurrencies. 

Notable updates

● ETH gas fees dip to levels not seen since August 2021, opening an optimal juncture to maneuver assets on the Ethereum network.

Banter’s take

The markets aren’t entirely out of the woods just yet, but it’s an appropriate time to start preparing your portfolio. Watch the reactions surrounding the Fed minutes to stay ahead of the crowd.

With FUD dying down and the significant amount of recent adoption news, does anyone else feel like we’re on a rocket ship with ignited engines?

Thanks for reading. Enjoy your day Banter Fam!

– Gabri

Follow me on Twitter

Tags: ALTCOINSBTCETHMARKETS
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