Weekly Crypto Digest for February 12-18, 2024
Sunday, February 18, 2024
In the latest issue of Weekly Crypto Digest, read more about how Bitcoin mining difficulty at max again, CPI is higher than expected, Forbes included three crypto firms in the list of 50 best fintech companies, and more news.
The difficulty of Bitcoin mining has again renewed the maximum
As a result of the next recalculation, the difficulty of mining the first cryptocurrency increased by 8.24%.
The indicator renewed the historical maximum at the level of 81.7 T.
Inflation in the USA is higher than forecast
In January, the inflation index in the USA was 3.1%. The indicator exceeded the forecast by 2.9% but was better than a month earlier — 3.4%.
Experts noted that a lower speed of movement towards the target value of 2% may affect the Fed's policy regarding the key rate.
In the forecast markets, expectations were reduced to four and decreased during 2024 compared to six months ago.
Forbes included three crypto firms in the list of 50 best fintech companies
According to Forbes, Chainalysis, Fireblocks, and Gauntlet were included in the list of 50 leading fintech companies in 2024.
According to the publication, only three companies are included in the blockchain industry, recovering after major scandals and bankruptcies. They became startups designed to build a more reliable and secure infrastructure for the future.
At the same time, the journalists emphasized that the total financing of fintech projects fell from a record $141 billion in 2021 to $75 billion the following year and $39 billion in 2023.
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The National Bank of Ukraine will conduct open testing of the e-hryvnia in 2024
According to Andrey Podderegin, head of the Department of Payment Systems and Innovative Development of the National Bank of Ukraine, NBU plans to test the e-hryvnia (digital version of the national currency) in the second half of 2024.
As he explained, the pilot project will be open and will last approximately six months, and everyone will be able to participate.
The message also states that the volume of the e-hryvnia issue will be announced after the number of banks and their clients participating in the pilot project is known.
Participants can exchange "cash and cashless money" for e-hryvnia during the experiment. In addition, during the pilot project, they want to test calculations with digital currency offline and provide for the technical possibility of programming the e-hryvnia, the statement said.
Peter Thiel's Fund bought Bitcoin and Ethereum for $200 million
Billionaire Peter Thiel's Founders Fund invested $200 million in Bitcoin and Ethereum during the third quarter of 2023.
The amount was distributed equally between the first and second cryptocurrencies.
Being one of the first venture crypto investors, Founders Fund began aggressively buying Bitcoin in 2014 but then liquidated it before the market crash in 2022, making a profit of ~$1.8 billion.
Founders Fund made its first purchases when digital gold was valued below $30,000. Considering the current price of over $50,000, this operation brought an unrealized profit of ~66%.
The number of pre-orders for the Saga Web3 smartphone from Solana has reached 100,000
On February 12, the number of Saga Chapter 2 Web3 smartphone pre-orders from Solana Mobile reached 100,000 units.
Previously, the company set this limit as a condition for developing the second device.
According to the co-founder of Solana, Anatoliy Yakovenko, after receiving $45 million from pre-orders, the economics of selling a new smartphone is more viable than that of the first model.
The developers plan to create Saga 2 within a month. Delivery of the device to customers is planned for the beginning of 2025.
Also read our latest article Market Making in the Era of Crypto Market Manipulation.
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