Also today we are serving our cryptolunch. The first course consists of the live Bitcoin price and the prices of the top 25 crypto. Then we serve updates on the impact of the war in Ukraine on crypto, whale actions and NFTs.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto currencies.
Live Bitcoin price and prices top 25 crypto rise rapidly in rally
At the time of writing, the live Bitcoin price is quoting EUR 34,275.45 ($38,444.66). This is 9.47% higher than during our crypto lunch yesterday.
The top 25 crypto are also benefiting from the rally. Except for the stable coins, we only see price increases recorded for the largest crypto coins. Most of the gains of the day so far are for Terra (LUNA), which records a plus of 24.22 %. On the site of Tradeincrypto.com, where you can analyze all live crypto prices 24 hours a day and thus also throughout the weekend, we see that many more crypto coins are rising by double digits.
War causes price explosion Bitcoin and crypto. Here’s why
After yesterday afternoon’s price drop, we already saw a substantial recovery in Bitcoin and other crypto last night. This rise continues. This morning, the Bitcoin even made an attempt to cross the resistance at $40,000. This failed, however, after which the price dropped back slightly.
The cause for the rise in crypto prices has everything to do with the developments in the war in Ukraine. By now the sanctions are known. This creates certainty in the market and that rewards investors. In addition, we see a clear demand for safe havens by investors. In addition to Bitcoin and crypto, for example, the price of gold is rising. In addition, as we saw last night, both Russian and Ukrainian wealthy are using the crypto currency to be able to leverage their wealth despite banks being sanctioned or not working.
The question, of course, is how stable this rise is. The market reacts quickly to macroeconomic developments. We therefore continue to share the tips from our colleagues at Tradeincrypto.com for trading in an uncertain crypto market.
Activity crypto whales rising rapidly
It’s not just retail investors who are taking action. Large crypto owners, the so-called whales, evidently also see an opportunity to profit from the situation. In the analysis below from Santiment, we see the aberrant behavior of crypto whales aptly portrayed.
Twitter won’t load because you didn’t give permission.
#Cryptocurrency #whales have had WILDLY different behavior since #war broke out. Isolated is the past day of key high-tier whale activity to look at the 1-day percent change within each assets’ 90-day range of whale holdings. This is about 5x more activity than a typical day. pic.twitter.com/L9H35XMIoO
– Santiment (@santimentfeed) February 25, 2022
Again, of course, the question is how structural are the market positions that whales take. At what price will they sell? Are these whales Russian rich who temporarily invest more to put away their wealth? So this activity is again an uncertain factor in the short term.
NFT update: OpenSea, bestsellers and more
After the recent phishing attack, NFT platform OpenSea is apparently no longer taking a risk in migrating its contracts. Indeed, it announces that the execution of transactions is temporarily not possible today, Friday, February 25, 2022, due to the planned migration.
In addition, more happened. For example, despite the situation in Russia, there were again very many sales of NFTs. Also, an influencer from the adult entertainment industry appeared to scam her followers with a back-pull NFT. In addition, a desperate father is trying to intervene by creating an NFT from the footage of his daughter’s murder. You can read all this in the NFT update from our colleagues at Tradeincrypto.com.
Of course we’ll be back tonight with a Bitcoin update, after all, there’s plenty going on.
Want to stay up to date with the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”
