🧘♂️ALERT: $10 Million Crypto
Wave hello to the future
The Russia-Ukraine conflict continued to heat up over the weekend. Hitting risk assets such as crypto.
This comes despite a brief relief rally off the back of US sanctions.
As we start the week, it appears as though attempts to cut Russia off from financial resources are set to continue. On the other hand, we see mounting support for Ukraine. Even in the form of millions of crypto donations.
ETH Technical Analysis
Latest on Russia, Ukraine and Bitcoin
Ukraine’s government has raised over $10 million in crypto donations
Our Crypto Calendar for the Week
⏰ Top Headlines
🇺🇦 Technically and Fundamentally
Macro Structure: bearish downtrend continues. We saw the price bounce at the 0.382 level, fail to sustain, break below the 30 Day Moving Average and finally, a failed retest of the 0.382 level.
Highest Probability Bet: if we play to the downside, we need to be cautious of any good news coming out regarding the Russia-Ukraine conflict. Fundamental factors are at play at the moment.
⚔️ Russia, Ukraine & Bitcoin
Cryptocurrency has featured heavily in the recent Ukraine-Russia conflict.
Ukraine’s government has raised over $10 million in crypto donations, according to blockchain analytics firm Elliptic, bringing the total to stand around $16.7 million, when considering NGO donations as well.
Ethereum founder Vitalik Buterin urged caution to those participating in supporting the Ukrainian government due to concerns around the authenticity of the request, but later deleted his comment after confirmation of its legitimacy.
Yesterday, the Ukrainian Minister of Digital Transformation, Mykhailo Fedorov, pleaded with cryptocurrency exchanges to block Russian users’ addresses.
As Ukraine opens its doors to cryptocurrency donations, Russia continues to face sanctions, making it increasingly difficult to send and receive money through conventional avenues like banks.
Some speculate the largest European country may also turn to cryptocurrency as a way to evade sanctions being levied against it by much of the world.
We continue to monitor the latest developments in this conflict.
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💭 Pixelmon Bust?
NFT projects are still booming. When this is happening, we ought to be on the lookout for projects trying to make a quick buck. Pixelmon is being accused of just that. Many are complaining about the artwork after a $70 million mint.
When the Pixelmon game launches, players will be able to catch Pixelmon and collect them as NFTs in an open-world RPG.
The artwork revealed ($70 million mint) the NFT gaming project is getting heavily criticized for looking “broken” and for being too expensive for a pixelated NFT.
Pixelmon’s founder, Syber, said that the reveal was “unacceptable” and that the mint did not accurately reflect what the in-game NFTs would look like.
Syber said that the plan was always to use the funds raised from the mint to create proper models, but many feel cheated and scammed.
While Syber is committed to making Pixelmon work, this is a good lesson for everyone. Though it appears all NFTs are successful because of current market conditions, we should not assume an NFTs success.
Monday, 28 February
🏎 Nitro Star Flex Tire Sale
Nitro League’s star flex tire sale goes live on 28th February. Available for 24 hours only.
Cosmos bridge to Harmony (ONE) projected completion date.
Koinbazar will list Solana on BTC, ETH, INR, USDT Markets and open trading for SOL/BTC, SOL/ETH, SOL/INR, SOL/USDT market pairs at 11:30 AM (UTC) on 28th February.
Tuesday, 1 March
The biggest upgrade to the EOS network in over two years is set for Mandel 3.0 Final Release. Upon completion of the roadmap, Mandel 3.0 will mark the symbolic completion of the EOS network’s independence from block.one
American President Joe Biden will deliver the State of the Union address. It will mark the first address given by the new administration.
Wednesday, 2 March
‘Working in Engineering in the Blockchain Space’ AMA featuring the core engineering team at Immutable will engage the public for free around the topic of working in blockchain engineering.
Friday, 4 March
Hosted on YouTube, the BCH discussion will cover upgrades in May, stability and scaling throughout the CHIP process.
United States jobs report releases. Economists expect an upward trend to continue after the addition of almost half a million jobs reported in January.
Despite the current macroeconomic climate, LUNA is up 55% at the time of writing. What are algorithmic stablecoins? Are they a hot trend for 2022? Find out in tomorrow’s newsletter.
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🌎🧘♂️✍️ Stories in this newsletter were written by Kyle F., Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Ellen B.
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