Today, we will discuss all the crypto updates which have happened in week 01, Feb 2023, and you missed. This is the weekly report of Feb 2023 week 01. As per our analysis and research, you should know all the recent activity in Crypto Market and I’d like to make sure you will definitely get lots of information from here. Let’s see the Top 10 News Of the Crypto Market! What Happened in Cryptocurrency Feb 2023?
You should know what happened in this February 2023 from the beginning to the end of this month these are all the updates of February’s first week and the rest of the news you will get soon as you connected with us.
Here are the Top 10 and biggest updates.
No. 01: While the bulk of Shiba Inu investors is sitting on losses, over 60% of Dogecoin holders are making money.
According to a top blockchain analytics company, more than 60% of Dogecoin (DOGE) holders are in the black while the majority of Shiba Inu (SHIB) owners are in the black.
IntoTheBlock reports that 63% of DOGE owners are making money on their investments, while 35% are holding losses.
While 47% of Shiba Inu owners are underwater, 45% are in green space. The remaining ones are even with their costs.
Interest in both dog-themed tokens has recently increased. Following news that DOGE fan and billionaire Elon Musk is attempting to integrate cryptocurrency payments through Twitter, Dogecoin is displaying bullish price activity.
Shiba Inu, meantime, is preparing to deploy the Shibarium protocol, a layer-2 network built on top of Ethereum, soon. It is comparable to Polygon (MATIC).
No. 02: Shiba Inu has increased 14% over the past day as the introduction of Shibarium Beta approaches.
Shiba Inu also referred to as the “Dogecoin Killer,” has been one cryptocurrency in 2023 that has generated continual excitement.
The second-largest meme coin has increased by a startling 74.41% since the beginning of the year, according to data from CoinMarketCap, as the cryptocurrency industry maintains its spectacular comeback.
The impending launch of Shibarium, a layer-2 network intended to lessen Shiba Inu’s reliance on the Ethereum blockchain by processing a larger portion of transactions involving all Shiba Inu-based tokens – SHIB, LEASH, and BONE – thus leading to higher throughput and lower fees, has been a major source of interest in Shiba Inu.
According to the most recent Shiba Inu news, the token has increased by 14% over the past 24 hours, outperforming every other coin in the top 40 cryptocurrencies ranked by market size.
A day after the Unification Foundation, Shibarium’s co-developers, published an update on the layer-2 project, the price of SHIB recently rose, igniting interest among the “SHIB Army” of holders and devoted supporters.
No. 03: Samsung is working with Google and Qualcomm to create its own Metaverse Hardware.
The Korean mobile company Samsung announced that it would soon enter the metaverse and VR (virtual reality) headset markets. According to the company, “extended reality” gear is already being developed. This could be a reference to the development of a VR headset.
TM Roh, the head of Samsung’s mobile experiences division, confirmed the existence of such a device but did not specify when it would be made available. However, he did name Qualcomm and the fabless semiconductor maker Google as partners. On Feb. 1,
No. 04: This new bitcoin whale purchased 13370 BTC in one of the largest monthly transfers.
According to a recent tweet from Santiment, their analytics team discovered the largest Bitcoin transaction to occur in the last 30 days more than eight hours ago. According to their tweet, the address that received about 13,370 BTC is new, and the tokens were moved in a single transfer.
This many bitcoins are worth a staggering $313.1 million. Either a whale made a buy or transferred some of their BTC wealth to a different wallet in this case. Following the transfer, there was a roughly 0.37% decline in the price of BTC.
No. 05: Kazakhstan begins a survey on ideas to enhance cryptocurrency trade
In order to improve Kazakhstan’s regulated ecosystem for cryptocurrency operations, the Astana Financial Services Authority, the organization in charge of the Astana International Financial Center (AIFC), has produced a consultation paper with suggestions.
The document makes recommendations for ways to lower market risks in the framework of regulated trading. The regulatory authority has also developed improvements to the current design of the cryptocurrency platforms operating out of the nation of Central Asia’s financial center.
Residents of the AIFC and other interested parties are welcome to take part in the consultation, according to the announcement, which was cited by the cryptocurrency news website Forklog. Up until February 25th, the managing authority will accept public comments.
No. 06: According to Chainalysis, hackers stole $3.8 billion from the cryptocurrency corporation in 2022.
According to the blockchain analytics company’s research, cryptocurrency hackers stole $3.8 billion in 2022, an increase from $3.3 billion in 2021. According to the survey, October saw the most cryptocurrency hacks in a single month, with $775.7 million taken in 32 different attacks.
According to the study, 82%, or $3.1 billion, of all cryptocurrency stolen by hackers in 2022 came from decentralized finance protocols or DeFi protocols.
No. 07: As part of the Latam expansion, Binance and Mastercard introduce a cryptocurrency prepaid card in Brazil.
Mastercard and Binance, the top provider of blockchain and cryptocurrency infrastructure globally, announce the arrival of Binance Card in Brazil. Following the debut of the product in Argentina last year, Brazil is now the second country in Latin America to receive it. It is among the top 10 markets for Binance globally. The prepaid card is a component of continuous efforts to improve the connection between established financial services and the expanding cryptocurrency ecosystem. The card is currently being tested but will soon be readily accessible.
All Brazilian Binance users, new and old, who possess a legitimate national ID card, will be able to use the Dock-issued Binance Card at more than 90 million Mastercard merchant locations worldwide, both in-person and online, to make purchases and settle bills with cryptocurrencies like Bitcoin and BNB.
No. 08: India’s 2023 Budget maintains tight cryptocurrency tax regulations.
According to three attorneys who spoke to CoinDesk, India has kept its harsh crypto tax regulations starting in 2022 in 2023, while also adding a potential fine or jail time punishment for failing to comply with the rule relating to tax withheld at source (TDS).
When presenting the nation’s 2023 budget on Wednesday, Finance Minister Nirmala Sitharaman avoided mentioning cryptocurrency, virtual or digital assets, blockchain, or central bank digital currencies, which would have revealed the most recent tax laws. But a modification to the TDS regulations that have an impact on virtual digital assets was buried in the fine print (VDA).
The biggest democracy in the world imposed high taxes on cryptocurrency transactions last year: a 30% profit tax and a 1% TDS on all transactions.
In Q4 2022, Ripple sold XRP worth $226 million. The 1% TDS is still in effect, but until now, there was no enforceable legislative provision that imposed punishment for noncompliance if a citizen tried to evade paying the tax or made an incomplete payment. A retailer may argue in court that the only penalty necessary is tax payment. Now, failing to abide by the rules could result in a fine equivalent to the tax debt or/and a 3- to 84-month prison term.
Anoush Bhasin, a crypto tax advisor and the founder of Quagmire Consulting, said the amendment calls for a fine and probable jail for at least three months and possibly up to seven years.
No. 09: The metaverse branch of Facebook’s parent company Meta lost $13.7B in 2022.
According to its financial announcement on Wednesday, Meta Platforms (META) continued to lose enormous sums of money in its newly formed Facebook Reality Labs (FRL) business, which includes its augmented and virtual reality operations.
FRL reported a loss of $4.3 billion for the quarter, which was less than the analyst consensus expectation of $4.4 billion and higher than the third quarter’s loss of $3.7 billion.
In total, Meta lost $13.7 billion in the division in 2022 on $2.2 billion in revenue, up from a loss of $10.2 billion on $2.3 billion in revenue in 2021. The business has previously stated that it anticipates FRL’s operational losses to increase “substantially” over 2022 as a result of investments made by Meta in what it sees as an essential aspect of its future.
No. 10: In Q4 2022, Ripple sold XRP worth $226 million.
The decentralized XRP payment system was created by the centralized fintech corporation, which also develops other international payment solutions. Although Ripple and XRP are separate businesses, XRP and the XRP public blockchain power all of Ripple’s products.
The decentralized blockchain XRP Ledger saw over 106 million transactions, according to the payments processor, as well as the establishment of 228,000 brand-new user wallets.
Meanwhile, according to Ripple, the average daily volumes on the XRP spot markets have fallen from $1.1 billion in Q1 2022 to about $700 million now. However, it anticipates that investment activity will soon return to trading, custody, and payment facilitation instruments.
Conclusion: Top 10 News Of The Crypto Market! What Happened in Cryptocurrency Feb 2023?
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Also read :
Why Shiba Inu is Going Up? All The Big Updates Of Jan 2023 !!
Top 10 News What Happened in Cryptocurrency Jan 2023?
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