Now it’s lunch time again so we take a look at the live Bitcoin price and the prices of the top 255 cryptocurrencies. We then look at special developments in Russia, around Ethereum (ETH), whales, and a special NFT story.
Given the situation in Russia, it is still too uncertain to make a price forecast for a week. That’s why we’re also offering our cryptocurrency and Bitcoin updates twice a day this week (around lunchtime and after the US market closes).
Live Bitcoin Price Flat, Top 25 Cryptocurrency Prices Mainly Falling
At the time of writing, the live Bitcoin price is trading at EUR34,750.43 ($38,265.50). This is 0.03% higher than the same time yesterday, but lower than during our crypto lunch on Friday.
Despite that, Bitcoin managed to post a weekly return of +1.30%, while the 30-day result is -8.11%.
In the top 25 cryptocurrencies, we mainly see price drops. There are some cryptocurrencies with positive results. The highest gain of the day is currently for Ripple (XRP) at 1.70%. The biggest loser of the day is currently for Near (NEAR), which is down 4.33%.
Last week we saw strong gains and strong losses. The best weekly result was for Near (NEAR), which was +16.69%. The biggest loser for the week was Polkadot (DOT), which was down 6.30%. In the last 30 days, the results have diverged even more. The biggest gainer in the crypto top 25 is Terra (LUNA) with +50.22%, while the biggest loss was for Cardano (ADA). This crypto lost no less than 28.09%. On the Tradeincrypto.com site you can analyze all the results and all the prices of cryptocurrencies live 24 hours a day.
Is Russia getting into crypto? Coinbase Blocks…
Last week we saw how Russia’s crypto trading volume dropped rapidly. With that, some experts concluded that Russia would not use cryptocurrencies to circumvent sanctions after all. However, that conclusion appears to be premature.
Now it seems that the Russians convert the assets into cryptocurrencies, but they hide the assets in countries where there is little or no regulation of cryptocurrencies and the application of sanctions is also not enough.
In the United States, of course, there is strict supervision of cryptocurrency exchanges and the application of sanctions. Based on sanctions lists and its own investigations into illegal activities, cryptocurrency exchange Coinbase has now blocked more than 25,000 Russian crypto holder addresses.
Ethereum (ETH) Transaction Fees Drop, Crypto Bull or Bear?
One of the criticisms of crypto Ethereum (ETH) is the level of transaction costs. The developers are taking action against that. So-called gas rates are now falling dramatically. On the layer 2 blockchain, it is even possible to make large transactions for $0.10 in transaction costs. This leads to optimism among some experts. They expect the coin to trade at $2,800 by the end of the month due to these measures. The current live Ethereum (ETH) price is $2,540.94 down 2.71% since yesterday.
This makes this coin seem like a good investment at the moment. Still, crypto investors should remain vigilant. Based on other analyses, they need to factor in a sharp price drop, as you can see below.
We also see that the Ethereum whales are spreading their risks.
Whales keep investing, these are their favorite crypto tokens
We see that Ethereum (ETH) whales spread their risks by investing in other tokens. For example, we see that they are massively investing in FTX Token (FTT), but we also see that they are trying to take advantage of price drops in Cardano (ADA). Finally, we see whales buying stablecoins en masse. Based on this increased purchasing power, the whales are expected to brace for a recovery in cryptocurrency prices, especially Bitcoin. Due to the rising stock of stablecoins, people are hoping to get a lower price as soon as the price of the largest cryptocurrency is back in sight.
Suddenly Rich 12-Year-Old Through NFT Art
Benyamin Ahmed, 12, learned to write computer codes when he was 5 years old, but is currently captivated by the NFT market. He created his own NFT, a series of digital artworks of whales (not coincidentally called whales in English). These are a resounding success. It has already been sold for GBP 750,000 (± $988,000) and more than GBP 3 million (± $3.9 million) have been traded.
Since he doesn’t have a bank account yet, he parked the profits in Ethereum (ETH). Although the crypto currency loses value, he hopes that he will invest in the future of the crypto and thus achieve a significant return. You can read his entire story here.
Do you want to invest but not in crypto?
The tensions surrounding Ukraine, of course, not only affect the price of Bitcoin and cryptocurrencies, but also other investments. Are you curious about what you can expect from the price of stocks, gold, oil, FOREX and other common investments in the coming week? We look ahead to our weekly price forecast at MANNERS.nl. In addition, we’d like to bring to your attention a free webinar where you can learn more about investing in turbulent times like these.
Want to stay informed of the latest price changes?
You can always follow the developments yourself with our WANT crypto analyzes or feature articles and previews on the crypto market and Bitcoin. Of course, you can also follow live prices 24 hours a day if you want to stay informed in real time. Are you also interested in other investments besides cryptocurrencies? So our weekly price forecast on Monday morning may be some reading advice. †Note: We never provide financial advice, so you may not interpret our contributions in that way. Always do your own research and make rational decisions about if, when, what and how much you want to invest in.”
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