Mooners and Shakers: Bitcoin surges past $40k, flipping Russian ruble; LUNA resumes moon mission
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As Bill Lawry would say, it’s all happening. US dollar up, Russian ruble in rubbles, S&P 500 down but Nasdaq up… Make of that what you will, but let’s focus on Bitcoin – the orange coin is currently in a pump-tastic mood.
At least, it was at the time of writing. That narrative could, of course, be completely reversed by the time you’re speed reading this article.
But enough fate tempting from us for the moment. Here’s a taste of some of the more positive vibes we’re seeing on Crypto Twitter right now…
$BTC bullish confirmation loading. 👀
— Justin Bennett 🇺🇦 (@JustinBennettFX) February 28, 2022
What if these last 4 months and potentially another few months IS the crypto winter
Before a crypto baby bear blasting
AKA Pumpathon https://t.co/sSVNremVSL
— Tyler Strejilevich (@TylerSCrypto) February 28, 2022
Crypto feels like it is decoupling from traditional markets right now.
Has there ever been a day where crypto was up this much marginally & traditional markets were down this bad?
— Lord of the Ty’s 🌉🌌🌅 (👺,👺) (@LordTylerWard) February 28, 2022
This is a good move. #Bitcoin corrected from the first impulse move upwards (past days), but didn't really show weakness as it's a healthy, standard correction.
Reclaimed $38.5K and now attacking the highs, through which further upwards tests seem likely. pic.twitter.com/jbm8yhTZjQ
— Michaël van de Poppe (@CryptoMichNL) February 28, 2022
Now let’s bring the mood down just half a notch. Who can we turn to for that? Gold bug Peter Schiff – you’ll do…
#Gold and #Bitcoin are both up today. But this move in no way implies a correlation. They're rising for different reasons. Gold is up as a safe-haven and #inflation hedge. Bitcoin is up for the reason $ARKK is up. Speculators in risk assets have been conditioned to buy the dips!
— Peter Schiff (@PeterSchiff) February 28, 2022
But wait, here’s something else of interest, the Russian ruble now has a smaller market cap than Bitcoin after sinking about 11 per cent against the US dollar today. Guess that’s what you get from your currency when your government decides invasion is an ace idea.
— Lark Davis (@TheCryptoLark) February 28, 2022
With the overall crypto market cap sitting at about US$1.91 trillion and up 2.4% over the past day, here’s the state of play in the top 10 tokens right now – according to CoinGecko.
Market mover in chief, Bitcoin (BTC) is busting up while Ethereum (ETH) sits back and watches – for the moment.
Terra (LUNA) continues to lead the pumpage among ETH’s smart-contract platform competitors, though. At the time of writing, it’s registering a 67% gain over the past week. The next best on that front is Ethereum, with a 6.7% weekly gain.
And the LUNA love is being reflected in Terra’s TVL (total value locked) measurement lately. TVL, in case you didn’t know or had forgotten, is the metric for the overall value of crypto assets deposited in decentralised finance protocols within a given layer 1 crypto ecosystem.
Sweeping a market-cap range of about US$19.9 billion to about US$916 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time.
• Waves (WAVES), (market cap: US$1.27 billion) +8%
• Huobi BTC (HBTC), (mc: US$1.66b) +7%
• Chiliz (CHZ), (mc: US$978m) +5%
• IOTA (MIOTA), (mc: US$2.1b) +4.5%
• Zcash (ZEC), (mc: US$1.37b) +4%
• Convex Finance (CVX), (market cap: US$916 million) -8%
• Anchor Protocol (ANC), (mc: US$942m) -5%
• Polkadot (DOT), (mc: US$19.5b) -3%
• JUNO (JUNO), (mc: US$1.58b) -2%
• Humans.ai (HEART), (mc: US$1.29b) -1.5%
Moving below the crypto unicorns (in some cases well below), here’s just a selection catching our eye…
• FC Barcelona Fan Token (BAR), (market cap: US$26.4m) +66%
• AS Roma Fan Token (ASR), (mc: US$8m) +36%
• Juventus Fan Token (JUV), (mc: US$19m) +26%
• Arsenal Fan Token (AFC), (mc: US$9m) +20%
• Lazio Fan Token (LAZIO), (mc: US$19m) +20%
What’s with the football fan tokens dominating the micro caps today? Not exactly sure just at the minute but judging by Crypto Twitter, there are certainly mixed feelings about them among fans. We’ll keep an eye on it and look into it further if the trend develops…
⚽️ Why Football Clubs are Issuing their Own Cryptocurrency
In the pandemic, there was a boom in the placement of fan tokens of soccer clubs, with Paris Saint-Germain, Juventus, and Barcelona – about a dozen clubs in total – issuing their cryptocurrencies. Why did they do it? pic.twitter.com/gZQ8V2cE0M
— CoinsPaid (@coinspaid) February 28, 2022
• DeFi Land (DFL), (market cap: US$16.4 million) -23%
• Tarot (TAROT), (mc: US$20.5m) -20%
• Nest Protocol (NEST), (mc: US$43.6m) -18%
• Redacted Cartel (BTRFLY), (mc: US$91m) -16%
• Popsicle Finance (ICE), (mc: US$27.5m) -16%
Remember don’t focus on the charts, focus on where we’re going:#Ethereum is the evolution of money #DeFi is the evolution of finance #NFTs are the evolution of art #Metaverse is the evolution of the internet #Web3 is the evolution of ownership
— Crypto-Gucci.eth ᵍᵐ🦇🔊 (@CryptoGucci) February 28, 2022
This is increasingly bizarre… pic.twitter.com/CQ9OA9odu5
— Mike McIntire (@mmcintire) February 28, 2022