HitBTC Digest - the week of Feb 13, 2023

AI and large information projects, liquid staking protocols were the large winners past week.

The hype astir ChatGPT spilled implicit into crypto resulting successful a brainsick surge of investments successful the tokens of AI and large information projects. GRT, the largest AI token by marketplace cap, at 1 constituent gained implicit 100% successful 24 hours.

HitBTC offers trading successful each fashionable AI and large information cryptocurrencies. Check retired our latest article describing apical projects successful that abstraction and their coins and tokens.

Liquid staking protocols' tokens soared aft the SEC fined Kraken for not registering its staking programme arsenic a security. According to a widespread belief, DeFi “self staking” is immune to regulators, arsenic opposed to immoderate staking-as-a-service programs offered by centralized exchanges.

Unfortunately for American traders, HitBTC does not run successful the US. Fortunately for traders from the remainder of the world, we person one of the champion staking programs connected the marketplace with nary lock-up period.

Market indices and prices:

• Fear and greed index is 48 today, which indicates a neutral capitalist sentiment. The existent level is the lowest during the past week, erstwhile it was 53 connected average.
• Crypto Volatility Index (CVI) is presently 55.16. Volatility has been decreasing resulting successful the CVI driblet from 62.10 connected February 6, oregon 11%.
• Total marketplace capitalization is $1,005 astatine property clip (09:00 americium UTC), a diminution of 5.4% from $1,063 astatine the commencement of the erstwhile week.
• The bitcoin dominance is 41.70% (09:00 americium UTC), successful enactment with 41.50% 7 days ago.

BTC terms arsenic of contiguous (9:00 americium UTC) is $21,695.3, down from $22,838.0 a week agone (-5.0%). The 7-day VWMA (volume weighted moving average) is presently $22,182.0. Last week’s highest terms was connected February 8, erstwhile BTC reached $23,452.4.

ETH terms arsenic of contiguous (9:00 americium UTC) is $1,481.8, which is 9.1% little than the $1,630.0 arsenic of past Monday. The 7-day VWMA is $1,566.5. On February 8, the ETH terms deed a play precocious of $1,697.9.

The champion performing altcoins successful the past 7 days were:

• ROSE (Oasis Network) terms has accrued by 33.0%, fueled by a beardown involvement successful AI and large information projects. Oasis is the starring privacy-enabled and scalable layer-1 blockchain network. It combines precocious throughput and debased state fees with unafraid architecture to supply a next-generation instauration for Web3 and volition powerfulness DeFi, GameFi, NFTs, Metaverse, Data tokenization and Data DAOs.
• MINA (MINA) is up by 21.5%. Mina Protocol is simply a minimal “succinct blockchain” built to curtail computational requirements successful bid to tally DApps much efficiently. Mina has been described arsenic the world’s lightest blockchain since its size is designed to stay changeless contempt maturation successful usage. Furthermore, it remains balanced successful presumption of information and decentralization. MINA is up connected the quality of Binance adoption of zk-SNARKs, MINA technology, which ensures confidentiality and information of accusation during proof-of-reserve verification.
• HBAR (Hedera) terms has surged 17.4% successful the past 7 days. Hedera (HBAR) is the autochthonal cryptocurrency of Hedera Hashgraph, a level that is positioned arsenic an alternate to accepted blockchain exertion and aims to excel successful speed, ratio and security. HBAR is up connected the quality of a caller metaverse money worthy $1 cardinal done the AfroFuture DAO.

Top 3 losers of the past week included: OP (-27.0%), FTM (-24.4%) and DyDX (-21.8%).

• OP terms returned to the level of February 1, 2023, aft a speedy but awesome bull tally of the past 2 weeks.
• FTM terms has been expanding since aboriginal December 2022. The token was besides 1 of the apical performers successful the period of January, reaching its highest terms connected February 4. FTM terms has declined since then; it is presently trading astatine the terms levels of the past week of January 2023.
• DyDX was the apical 3 performer successful the past week of January, the existent diminution represents a agelong anticipated correction.

What other happened:

• Kraken paid a $30 cardinal good to SEC, the US fiscal regulator, for not registering its staking programme arsenic a security. The programme was discontinued for the US users upon the quality but it is inactive disposable for users from the remainder of the world.
• LocalBitcoins, 1 of the oldest bitcoin P2P speech platforms, announced that it volition cease operations. The level launched successful 2013 and has been precise fashionable successful the aboriginal days of crypto. As of 2022, it offered P2P speech for users successful 189 countries. LocalBitcoins volition halt accepting deposits connected February 16, and users volition person 12 months to assertion their funds back.
• Metaverse gaming platform, The Sandbox, signed a memorandum of understanding with the Saudi Arabia Digital Authority. The presumption of the concern are not yet clear, but the memorandum indicates that Saudi Arabia is trying to drawback up with UAE, its neighbor, successful attracting metaverse projects. UAE remains somewhat ahead. In January 2023, Dubai announced metaverse strategy, and its Virtual Asset Regulatory Authority is actively helping metaverse projects to settle and thrive successful Dubai.

What’s caller connected HitBTC:

• CAPA (Cappadocia Token) is present disposable for trading successful CAPA/USDT pair. CAPA is the TRC20 token created by a squad of Turkish crypto experts with the purpose to supply fast, reliable and easy-to-use outgo solutions for tourists successful the Cappadocia portion and beyond. Several large Cappadocia merchants person already started accepting Capa tokens arsenic payment, and Capa is actively moving connected adding caller merchants to its network.

Coming Soon to HitBTC:

• MFT - > HiFi swap is yet scheduled for this week. We expect the swap to beryllium finalized this week, truthful enactment tuned!

For details, notation to HiFi Tokenomics Lite Paper. As a effect of the swap, we volition person a caller HiFi token that volition regenerate existing MFT. MFT holders volition get an equivalent of their MFT holdings successful caller HiFi tokens.

If you person not done truthful yet, delight bash not hide to download our trading app connected Android and iOS.

Cheers,

HitBTC team