Crypto Market Overview February 23th | Dex-Trade

Crypto Market Overview February 23th | Dex-Trade

Crypto Market Overview – February 23th, 2022

 

The Offensive of Russian Troops in Ukraine Leads to Collapses in Crypto and Stock Markets

Putin regime justified its diplomatic impotence and recognized the territories of the country not controlled by Ukraine as independent partner republics of the Russian Federation, to which the global stock and cryptocurrency markets immediately reacted. In particular, the capitalization of the global crypto market fell by almost 6%, that is, by about $140 billion in just 24 hours. Most altcoins have plummeted. For example, the cost of Ethereum dropped to $2,500 at the beginning of the day, but then reached $2,630 per coin. In contrast, Bitcoin rose above the support level at $37,000, then tested a local bottom at $36,450 and rose again to $38,000 at the end of trading Tuesday. At the same time, the price of gold hit a nine-month high. Oil and gas prices jumped 10% and 7%, respectively, on fears of impending supply disruptions after Western democracies imposed economic sanctions on Russia, one of the world's largest suppliers of exhaustible energy resources. The price of Brent crude reached $99.38 per barrel, the highest level since 2014. However, experts warn that it could rise to $120 per barrel, potentially boosting global inflation. The Russian military intervention caused a negative reaction all over the world. The leaders of most countries condemned the aggression of the Putin regime and the violation of international law. Whether this will affect the realities of the crypto community and whether the reactions to the military events in Ukraine will follow from key people in the crypto world — we'll see.

 

The World's First Themed Restaurant of The Main Meme-Crypto Opens in Dubai

Another small win for Elon Musk's favorite — Dogecoin. The world's first Doge Burger has opened in Dubai, a virtual restaurant inspired by cryptography and the voluminous heritage of the main meme cryptocurrency. The establishment was opened by Rocket Kitchen, a virtual restaurant chain that specializes in American cuisine. It’s reported that the restaurant will operate in a virtual format and is already accepting orders for the delivery of hamburgers and sandwiches. By the way, the well-known “doggie” is used on branded packages from Doge Burger. At the moment, you can pay for an order using ETH, BNB, CRO, XRP, USDT, SHIB and, of course, DOGE. However, this is not the only restaurant accepting cryptocurrency in Dubai. It’s reported that there are several more establishments of a similar nature, but with a different thematic bias since 2014. So the share of memcoins in the crypto space is skyrocketing. Recall that Tesla recently began accepting DOGE as payment for merch and refueling batteries at its SuperCharger stations. By the way, Elon Musk also announced plans to create a network of car restaurants for Tesla SuperCharger customers, where, predictably, DOGE will be accepted.

 

Manchester City Have Created a Metaverse Replica of Their Home Stadium

Reigning English Premier League champions Manchester City have partnered with Sony to create a virtual reality replica of their home Etihad stadium in the metaverse, making the stadium the first such facility available in virtual reality. According to Sports Illustrated, Manchester is the latest major European club to venture into its own metaverse. Its owners have signed a three-year partnership with tech giant Sony Corporation and while the project is still in its early stages, experts have already taken accurate measurements of the stadium to create a detailed digital replica. “The whole purpose of having a metaverse is that you can watch the matches live, be a part of the action from different perspectives, and fill the Eithad stadium as much as you want since it is completely virtual. I believe that the classic image of someone sitting on a sofa watching a screen is something we cannot conceive will still be the reality in ten years, if not sooner.” — Nuria Tarre, director of marketing and fan relations said. It is also reported that the designers of the digital replica of the stadium will use skeleton tracking technology to turn Manchester City's home stadium into a major Metaverse hub to watch live and be present simply for inspiration.