The Incrypted team has prepared for you a digest about global events in the cryptosphere this week. In it we will talk about jumps in the Bitcoin rate, changes in investor sentiment, testing of the e-hryvnia and a new date for the hearing in the case of the ex-CEO of the Binance exchange Changpeng Zhao.
Top News Bitcoin News
- How did the value of the asset change during the week?
On February 12, 2024, the price of Bitcoin exceeded $49,000 for the first time since December 2021. This was followed by several other jumps. The next day the rate broke through $50,000, on February 14 – at $51,000, on February 15 – at $52,000.
On the weekend of February 17 and 18, 2024, the asset price rolled back. At the time of writing, it is trading at $51,725, according to TradingView:
Bitcoin BTC- Expert forecasts
Against the backdrop of jumps in the Bitcoin rate, some analysts announced the potential movement of the first cryptocurrency to a new ATH. CryptoQuant CEO Ki Young Joo believes that the asset can break through the $112,000 level.
Well-known crypto expert Arthur Hayes adheres to a more cautious forecast – $70,000 by the end of the year.
Analyst Tuur Demeister can be considered a maximalist. He believes that by 2026 the asset will set a new ATH of $600,000.
QCP Capital experts, in turn, believe that the asset will reach a new historical maximum by the end of March 2024.
- Bitcoin capitalization exceeded $1 trillion for the first time since December 2021
This happened on February 14, 2024 against the background of one of the asset price jumps. At the same time, Bitcoin is still among the top 10 companies/positions for this indicator, leaving behind such counterparties as Visa, Tesla and Berkshire Hathaway.
- Bitcoin mining difficulty updated ATH
On February 15, 2024, the indicator reached 81.73 T. The next value change will likely occur on March 1st. Experts predict a decline of 1.24%.
At the same time, there are less than 10,000 blocks left before Bitcoin halving. Grayscale Investments experts believe that the event is unlikely to have a serious impact on the value of the asset, at least in the long term.
Andrew Makarov- Bitcoin reacted with a slight fall to the CPI update
According to the US Department of Labor as of February 13, 2024, inflation in the country slowed to 3.1%. However, this is still higher than the predicted value of 2.9%.
Bitcoin reacted to the news with a slight drop. Experts noted that the correlation between the Fed’s tough policy aimed at reducing inflation and high-risk assets, including Bitcoin, is gradually falling.
Denis Solomyanyuk- MicroStrategy’s unrealized profits rose amid a surge in Bitcoin prices
If the company’s portfolio is liquidated at the price of the first cryptocurrency at $50,000, the figure will be $3.56 billion. $52,000 each — $3.95 billion. At the same time, the total market value of MicroStrategy bitcoins reached $10 billion.
Dmitriy Yurchenko- The Spot Bitcoin ETF Sector Has Recorded Capital Inflows for 15 Consecutive Days
On February 14, 2024, the indicator set the new ATH at $631.23 million. The sector has been in the green zone for 15 days in a row. Among the leaders, the IBIT fund from BlackRock stands out, which, in addition to GBTC, was the first to overcome the 100,000 BTC mark.
Notably, according to CoinGecko, the US accounts for 83% of the total trading volume for this position.
Ivan PavlovskyyEthereum News
- How has the value of the asset changed?
Fluctuations in this position were not so significant when compared with Bitcoin. On February 12, 2024, the price of Ethereum crossed the $2,500 mark, after which it continued to grow. The next jump was on February 14, and then on February 15.
At the time of writing, the asset is trading at $2,799, according to TradingView:
Курс ETH/USDT на бирже Binance. Source: TradingView 
Ethereum ETH- Growing queue of validators on the network
On February 12, 2024, it reached 7,045 validators, a new high from October 2023. Peak wait time reached 45 days. Experts noted that the increase in staking activity indicates the recovery of the network.
- Applications for Spot Ethereum ETFs
On February 13, 2024, Franklin Templeton joined the list of issuers vying to launch such a fund. Another counterparty, VanEck, made changes to its application. The next interim deadline for most cases will be March 2024.
- The expert accused the head of the SEC of having connections with Ethereum management and the Chinese authorities
We’re talking about Steven Nerayoff. He stated that most of Ethereum is controlled by Chinese authorities interested in institutional approval of the asset.
He also noted that Gary Gensler is closely associated with them, as indicated by the case with the Prometheum company. The expert is confident that the US Securities and Exchange Commission (SEC) will approve spot Ethereum-ETFs, and in the near future.
- An unknown person paid a commission of $113,497 for transferring 10 ETH
The details of this case are unknown at the time of writing.. It is possible that this is just a sender error. The incident occurred on February 13, 2024.
- New details on the ENS Labs lawsuit against GoDaddy, Dynadot and Manifold Finance
The latter offered to resolve the dispute and transfer all rights to the eth.link domain. However, the company demanded compensation of $300,000 for this.. The further course of action must be chosen by the DAO members.
Ukraine and crypto assets
- How many officials invested in crypto assets in 2022?
Opendatabot’s report on declarations showed that 1428. Compared to 2021, this figure has almost doubled. The largest bitcoin holder is the deputy of the Odessa regional council Nikita Kuzkevich. In his declaration, he indicated that he owned 121 BTC.
Alina Saganska- The Verkhovna Rada criticized the work of the National Securities and Stock Market Commission
The head of the Committee on Finance, Tax and Customs Policy, Daniil Getmantsev, noted that the Commission failed to prepare a bill on crypto assets. He also pointed out the institutional inability of the department, using the Ministry of Digital Development of Ukraine as an example.
- NBU will conduct open testing of e-hryvnia in 2024
The project will start in the second half of the year and will probably last about six months. The National Bank noted that everyone will be able to take part in the initiative.
Starknet will host an airdrop on February 20th
700 million STRK have been allocated for distribution – 7% of the total supply of the asset. It is expected that 1.3 million users will take part in the airdrop. Tokens can be branded until June 20, 2024.
In addition, another 13.1% of STRK supply is expected to be unlocked in April 2024. The CEO of the StarkWare development studio, Eli Ben-Sasson, noted that there is no cause for concern; the unlock will not have a significant impact on the exchange rate.
Fear and Greed Index reaches its highest since November 2021
On February 13, 2024, the indicator moved deep into the “green” zone at a level of 79 points. This means that “extreme greed” is prevalent in the market.
Denis SolomyanyukAt the time of writing, the score has dropped to 72 points, according to CoinStats.
Miners from China moved to Ethiopia
The country legalized cryptocurrency mining in 2022. Of the 21 companies that received a license, 19 were established in China. A similar raid on Ethereum would require $34 billion;
What’s up with Incrypted? Articles and interviews
This week, the Incrypted website published an article authored by Trustee Plus CEO Vadim Grusha about confidentiality in the field of crypto assets:
Vadim Grusha