If you bought a £1000 worth of bitcoin on Monday 22th February, it would be now worth £818 on Saturday 27th February. Bad week for Bitcoin.
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THIS WEEK IN CRYPTO
Bitcoin has had a tumultuous week with it dropping from 58K to 45K with it sitting between 46K and 48K. Market bulls of Bitcoin has been wavering, whilst still seeing further adoption globally.
Chainlink have increase the scalability of their decentralized oracle networks with 10x increase in the amount of real world data that can be made available to smart contracts. Technical progression.
With the price of ETH at $1600 Grayscale buy another $25m which is a drop in the ocean compared to the $5.1b they already have invested in the smart contract with high transaction fee’s currently
The Cardano Foundation going forwards will be taking a more active role in Project Catalyst 17they plan to deploy over $100m in funding to further decentralise and increase the networks value
Top Five by Market Cap:
This weeks whale watch we saw a 100 bitcoin move from a wallet not touched since 2011, was this found via two small transactions sent in the past six months. A $4.6m haul for one lucky key holder
The Pollen test net makes it to v0.4.0 which see the introduction of a GUI Pollen wallet, IOTA’s market cap is currectly $3.09 billion with around $143 million worth of on chain transactions per day
ADA, hit a new all-time high price of $1.38with transaction volumes in the $19b every 24 hours. Blockchains and smart contracts have utilisation beyond being a store of value with lower fees
Chainlink have been ramping up their security with a $100k bug bounty program for the responsible disclosure of critical vulnerabilities in the Chainlink codebase. In Link or Cash
Binance’s BNB has been making impressive gains in the past week with it up 530%, underpinning this is a dynamic on-market development of smart contracts. Utlisation focused adoption
NEXT WEEK IN CRYPTO
Bitcoin has solid resistance at 42k but get ready for some volatility, if this is your first Rodeo contest after buying at the all time high, welcome to Blockchain it’s on track to eventually consume us all