Cryptocurrency market last week: bitcoin lost the momentum of the recovery and approached the USD 40,000 threshold

Cryptocurrency market last week: bitcoin lost the momentum of the recovery and approached the USD 40,000 threshold

After several sessions of strong gains to the $45,000 level, Bitcoin has recently declined sharply, even breaking the 40,000 support at one point. USD.

Bitcoin had a short series of days of recovery as many consecutive winning sessions took place and has climbed to the 45,000 line USD. However, on February 17, bitcoin turned down and is now approaching the 40,000 mark USD.

Virtual currency market is red

According to updated data from CoinMarketCap on the morning of February 18 (Vietnamese time), bitcoin price was trading at 40,180 USD, up 5.4% over the past week. Ethereum — the second largest digital currency — falls nearly 5% to 2,818 USD.

Most other cryptocurrencies in the top 10 are also down, Cardano down 7.6%, Solana down 6%,

Cryptocurrency market cap fell 70% last week billion dollars to 1,830 billion dollars On the morning of February 18th.

The Hungarian central bank wants the EU to ban bitcoin and cryptocurrencies

With countries around the world constantly voicing their views on virtual currencies, particularly in relation to institutional issues, the Governor of the Central Bank of Hungary recently called on the entire EU to ban cryptocurrencies.

György Matolcsy, Governor of the Central Bank of Hungary, said: “It is time to ban trading and mining of virtual currencies in the EU. It is clear that cryptocurrencies can be a vehicle for illegal activity and tend to build financial pyramids.”

The governor noted that “China declared all virtual currency activities illegal last September,” and recently the Bank of Russia also proposed “a ban on cryptocurrency trading and mining.”

Commenting on the Central Bank of Russia’s proposal to ban cryptocurrencies, Governor Matolcsy said: “I fully agree with the proposal and also support the position of the EU’s top financial regulator that the EU should ban the mining method used to mine new bitcoin.”

Previously, in January 2022, Vice-President of the Supervisory Board of the European Securities and Markets Authority (ESMA) Erik Thedéen announced an EU-wide ban on virtual currency mining based on the proof-of-work concept (similar to the proof-of-work concept) demanded Bitcoin).

For his part, the governor of the National Bank of Hungary added that the Central Bank of Russia “rightly” said that “the dizzying growth and market value of virtual currencies is mainly driven by speculative demand for future growth, which is a financial bubble.”

He stressed: “The EU should act together to prevent the construction of new financial pyramids and financial bubbles. EU citizens and companies are allowed to own virtual currencies abroad, but the administration of the authorities will monitor their holdings.”

The New York Stock Exchange moves closer to NFT trading

The NYSE could also enter the virtual universe as the exchange looks to offer virtual reality, augmented reality, and mixed reality software.

The New York Stock Exchange (NYSE) has applied for the “NYSE” designation as a Non-Fungible Token Exchange (NFT), taking it one step closer to establishing an online marketplace for cryptocurrencies and NFTs.

In a filing with the US Patent and Trademark Office on Feb. 10, the NYSE said the exchange will offer an online marketplace for buyers, sellers and traders, electronic assets and digital artworks in addition to the NFT.

The NYSE could also join the Metaverse as the exchange looks to offer virtual reality, augmented reality, and mixed reality software.

As the NYSE finds a new market, it will compete with SuperRare, Rarible, and especially OpenSea, the leading NFT trading platform, which is rated at 13.3 billion dollars after the last round of financing.

However, a spokesperson for the NYSE said it has no immediate plans to launch crypto trading or NFTs. This person said that the NYSE regularly reviews new products, protects their impact on the brand and their intellectual property rights as a situation.

Previously, the NYSE tapped its first NFTs in April 2021 to celebrate the first deals from big-name public companies like Spotify, Snowflake, Unity, DoorDash, and Roblox.

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