Weekly Market Highlights #34: February 13 - February 19
✨The crypto market hit a new 2023 high this past week when Bitcoin hit the $25K mark for the first time since June 2022.
✨Over the past week, the crypto market increased ~$103B (from ~$1015B to ~$1118B) of its total capitalization
✨Bitcoin Fails At $25K
✅Bitcoin went through a highly-volatile trading week, surging past $25K for the first time since August last year and then dumping by roughly $2K hours later.
✅The bulls stepped up on the gas pedal the following day or two, pushing the asset to over $25K. However, that was short-lived, and BTC retraced below that line.
✅The asset remained calm at around $24,5K on Saturday and initiated another leg up toward $25K later but failed again.
✅As of now, Bitcoin stands on the same familiar ground. Its market capitalization remains calm at $472B, and its Dominance over Altcoins is still at 42.2%.
✨Most Altcoins Have Calmed Following The Recent Enhanced Volatility
✅BSCS is currently trading at $0,02516: +64,22% from its 7-day all-time low of $0,01532.
✅Although most alternative coins were highly volatile during the week, the past seven days belong to Filecoin. FIL registered three consecutive days of double-digit price increases, with the past 24 hours bringing another 18% surge. Overall, the asset is up by more than 70% for the same timeframe.
✅LINK, HBAR, VET, and GRT are the other notable gainers from the larger-cap altcoins, all of which have increased by around 7% in a day.
✅The top 10 altcoins are a lot calmer today. ETH, BNB, XRP, MATIC, OKB, and SHIB have minor price declines, while ADA, DOGE, DOT, and SOL have charted insignificant gains.
✅The cumulative market capitalization of all cryptocurrency assets has remained relatively calm at just over $1.1T on Coin Market Cap.
✨Bitcoin Fear and Greed Index is 58 - Greed, lower than at the beginning of the week (48)
✨ Dominance:
✅BTC: 42.2%
✅ETH: 18.5%
‼️ IMPORTANCE NEWS! MSTATION UPDATED THE TOKENOMICS ‼️
♾ We are thrilled to announce that MStation, the flagship product of GameFi, will be updated with NEW TOKENOMICS.
🙌 The NEW TOKENOMICS: https://docs.mstation.io/tokenomics/dual-token-mst-bscd
🌟 In addition, we have renounced the ownership of the MStation contract since April 2022, thereby removing any functionality only available to the MStation team and grant the community more control over the contract address.
🦾 This action aims to strengthen the trust of our community in the MStation team and make MStation become a project develop for the community. We will officially announce the exact date later.
🔥 As part of this update, MStation has burn all of the MST tokens that the MStation team is holding, including Team & Advisor, Marketing & Partnership tokens. This will help ensure and increase the value of MST tokens for the community.
▶ The total number of tokens to be burned is approximately 67,000,000 $MST tokens.
▶Now, the total supply of MST tokens is 33,000,000:
⭐️ Token Circulating: 23,000,000
⭐️ Convertible Game Incentives: 10,000,000 - Based on game demand then convert to BSCS Token with the relevant ratio at that time.
▶ MST contract address: https://bscscan.com/token/0xe7Af3fcC9cB79243f76947402117D98918Bd88Ea
❤️🔥Burnt Txid: https://bscscan.com/tx/0xacd8a8f54e1afa1ac6481afbf7c679a356ad511452630b95b64e064249b9a283
🔔 Stay tuned for the official updates and news from MStation. A new high is waiting for us to conquer!
🔥 BSCStation Exclusive AMA Recap🔥
💕 We’d like to say massive thanks to all of you who joined the BSCStation Exclusive AMA session on 13th February 2023. We appreciate all your support.
✨ This is a recap of the entire session, in case you missed it!
✔ 1st Segment: INTRODUCTION
✔ 2nd Segment: PRE-AMA QUESTIONS
🙏 We’re thankful for your support and for the amazing response to the AMA session. Also, we are indeed overwhelmed by all our esteemed community members, for the support and vitality towards the development of BSCStation.
🙌 For all of the questions that have not been answered yet, you can feel free to search for more information or ask directly on our Telegram Group.
🔔 There will be 2 IDO Projects, Shelterz & Parma Fan Token, coming your way this February, so keep an eye out for our social media channels.
👉 Full Recap:
Here’s Why Rich Dad, Poor Dad Author Believes BTC Will Reach $500K in 3 Years
Robert Kiyosaki – the author of the bestseller “Rich Dad, Poor Dad” – thinks bitcoin will surge to $500,000 by 2025 due to an incoming market crash and a consecutive distrust in the US dollar.
He has previously warned people to avoid traditional fiat currencies during uncertain times and focus on BTC or gold.
Kiyosaki’s Latest Advice
⭐️The American businessman, investor, motivational speaker, and author predicted that markets are up for severe correction, which will trigger another massive printing of fiat currencies by the Federal Reserve.
⭐️Kiyosaki believes people should embrace bitcoin, gold, and silver amid that potential turbulence, predicting the leading digital asset to reach $500,000 in three years. He added that the yellow metal could climb to $5,000 while silver could trade at $500.
⭐️The main reason for the price expansion of those assets could be the undermined faith in the US dollar, which he described as “fake money.” On the other hand, he classified gold and silver as “God’s money,” while bitcoin is “people’s $.”
⭐️Kiyosaki was among the few to forecast the severe 2008 economic crash. Over the past years, he has warned that a new financial collapse is on the horizon, urging people to avert from saving dollars due to the Fed’s controversial policies.
BTC is the Key to Future Happiness
⭐️The American opined in October last year that bitcoin, gold, and silver will continue their downtrend as long as the Federal Reserve keeps raising interest rates. However, he views that as a buying opportunity, saying investors picking those assets will “smile” once the US central bank pivots.
⭐️Prior to that, he listed several reasons why the greenback will lose its supremacy in the future, meaning people should embrace BTC, with the US government borrowing “too much money” being the main one. The world’s leading economy had an external debt of over $31 trillion as of January 2023.
Dubai’s University CUD to Embrace Crypto Payments
The Canadian University of Dubai joined forces with Binance to allow payments in BTC, ETH, and other crypto assets.
With the recent collaboration, the exchange dived deeper into the local ecosystem. It received a cryptocurrency license from Dubai’s regulators in September last year.
Settling the Semesters in Crypto
⭐️The world’s leading crypto platform disclosed the partnership on its Twitter account, saying current and future students of the CUD are allowed to settle their education costs in digital assets instead of fiat currencies.
⭐️The payment technology Binance Pay supports over 70 cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Litecoin (LTC), Polygon (MATIC), Ripple (XRP), and many others. Stablecoins such as USDT and USDC are also on the list.
⭐️Established in 2006, the Canadian University of Dubai (better known as CUD) offers an education system based on the curriculum employed in the North American country. It has approximately 1,200 students and comprises four faculties: Architecture and Interior Design; Communication Arts and Sciences; Engineering Applied Science and Technology; and Management.
⭐️Binance strengthened its presence in Dubai in September last year, obtaining a minimal viable product (MVP) license from the Virtual Asset Regulatory Authority (VARA). The extension of the previously secured authorization enabled it to offer digital asset services to institutional and qualified retail investors in the area.
⭐️Crypto.com also received regulatory approval in Dubai, while the bankrupt FTX was allowed to establish regional headquarters.
Did You Know Crypto Makes You More Attractive? Binance Survey Says So
A new survey conducted by the world’s largest cryptocurrency exchange Binance discovered that having an interest in crypto could make people more attractive.
🔶Binance conducted the study from February 6 to 9, 2023, surveying 2,600 participants aged 18 to 46.
Interest in Crypto is a “Significant Plus”
⭐️The survey discovered that an active interest in crypto could be a “significant plus” in a potential romantic relationship. 83% of respondents disclosed that liking crypto was an attractive feature in a partner.
⭐️70% of the participants shared that they would experience an increased level of excitement about going on a date with someone if they noticed an interest in crypto. This shows that interest in Web3 could be a way to get noticed.
⭐️Furthermore, approximately 60% of the respondents disclosed that they found people enthusiastic about crypto as tech-savvy, which indicated an openness to technological advancement and innovation.
Crypto Gift Cards Over Chocolates and Flowers
⭐️Interestingly, about 83% of the participants said they would prefer to receive crypto gift cards on Valentine’s Day rather than chocolates and flowers.
⭐️Notably, while 27% of the respondents revealed that they introduced their partners to the world of Web3, 38% shared that their partners were equally passionate about crypto, just like them.
“The survey findings are compelling and show that having an interest in crypto could be the key to a romantic relationship with like-minded enthusiasts this Valentine’s Day. As digital assets continue to rise in popularity, online resources make it easy to jump into the world of crypto and Web3,” Binance said.
⭐️The findings also show that the current market conditions have not affected investors’ sentiment toward crypto. Most users are still as interested in crypto as they were during the last bull run.
El Salvador to Open a Second Bitcoin Embassy, This Time in Texas
🔶Milena Mayorga – ambassador of El Salvador to the United States – said the Salvadoran authorities might open a bitcoin embassy in Texas.
The central American nation has already introduced a BTC office in Lugano, Switzerland.
The Second BTC Embassy
⭐️Mayorga held a meeting with Jose “Joe” Esparza (Texas Deputy Secretary of State) to discuss the new initiative, outlining the financial connection between El Salvador and the region:
“We discussed opening the second Bitcoin embassy and expanding commercial and economic exchange projects. In 2022, El Salvador and the State of Texas had a commercial exchange of $1,244,636,983.”
⭐️The second-largest US state has emerged as a blockchain hub due to the friendly regulations and the pro-crypto stance displayed by the domestic authorities. In addition, the relatively low price of electricity and the favorable climate conditions have attracted numerous bitcoin miners to settle there.
⭐️Ted Cruz – an American politician serving as the junior US senator for Texas – is an outspoken supporter of BTC. He has praised its decentralized nature as its main merit.
The First Embassy was in Switzerland
⭐️Several months ago, El Salvador signed a memorandum of understanding with the city of Lugano, Switzerland, and opened a bitcoin office there.
“My fellow Salvadorans and I are very excited by the promise of Bitcoin. I look forward to seeing how this initiative will help increase access to economic security and freedom for all,” Mayorga stated in October 2022.
⭐️Similar to their Salvadoran colleagues, the authorities of Lugano have also shifted their focus toward Bitcoin. They declared BTC, Tether (USDT), and the city’s stablecoin LVGA legal tender a year ago.
📣Stay tuned! The market's highlights will be updated by BSCStation 😎
About BSCStation
BSCStation - The fully decentralized protocol for launching new ideas. An all-in-one Incubation Hub with a full-stack Defi platform across all main blockchain networks. We provide exclusive services including IDO/INO Launchpad, Yield farming, NFT Auction, Marketplace, and BSCSwap
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