The cryptocurrency market digest (BTC, eNaira). Overview for 22.02.2023

By the middle of the week, the BTC has dropped to 24,040 USD. Since yesterday, the leading crypto has lost more than 3.5% of the price.

The market failed to reach 25,000 USD – an important resistance level that could open a pathway to 29,000-30,000 USD. Investors are considering the Fed’s monetary policy again and gain, feeling very insecure. Today is an important day because in the evening the Fed will publish the minutes of its latest meeting. There investors will be looking for hints on further steps of the regulator. In fact, they are interested in one thing: is the Fed going to lift the rate twice or more until inflation stabilises?

The second half of the day will be volatile.

Capitalisation of the crypto market on Wednesday is assessed for 1.090 trillion USD, demonstrating a decline. The BTC takes up 42.5% and the ETH – 18.4%.

Coinbase reported losses.

The US largest crypto exchange reported losses in Q4, 2022. The revenue had dropped by 75% because the number of operations has dropped due to scandals and bankruptcies in the industry.

Nigeria plans to launch eNaira

The Central Bank of Nigeria plans to stimulate business and people to switch to the eNaira token. Also, there are plans to launch again the national digital currency CBDC in partnership with the R3 blockchain platform.