Crypto Daily Roundup, 22 Feb: Bitcoin Falls Below $52,000

Crypto currency prices surged within the last 24 hours

TOP 5 Gainers Coins

Crypto News Key Highlights:

• Coinbase urges the SEC to approve Grayscale's Ethereum ETF, citing Ethereum's robust governance and mitigated risks. Chief lawyer Paul Grewal emphasizes commitment to innovation and dialogue for regulatory solutions. The SEC delayed the decision until March 10, impacting BlackRock's bid. Grayscale anticipates ETF approval by summer 2024.

• Nigeria disrupts top crypto exchanges like Binance, OctaFX, and Coinbase despite lifting a previous ban. Telecom firms instructed to block access amid currency speculation concerns. Nigerians express dismay on social media, highlighting challenges in accessing digital assets. Regulatory hurdles persist globally, as seen with India's recent actions against Binance and others.

• Ethereum's upcoming Dencun upgrade, slated for March 13, promises scalability and security boosts. Key features include Proto-Danksharding, cutting transaction costs for Layer-2 users. Analysts anticipate reduced fees, enhanced commercial viability for dApp developers, and increased appeal of Layer-2 platforms, impacting sectors like DeFi, gaming, and trading.

• In the ongoing SEC lawsuit against Terraform Labs and co-founder Do Kwon, the court sets pretrial deadlines. Do Kwon's extradition to the US from Montenegro adds complexity. The court orders both parties to prepare motions and depositions by March 11, with a trial adjournment agreed upon for March 25. Significant legal developments continue.

• Citrea secures $2.7M led by Galaxy Ventures to integrate zero-knowledge rollups with Bitcoin, expanding its use in DeFi and NFTs. Developed by Chainway Labs, Citrea enhances Bitcoin's blockspace, enabling broader applications. With participation from industry experts, the project aims to advance Bitcoin's capabilities while maintaining its core functions.

• Despite a market correction, AI-based crypto tokens and traditional stocks saw positive growth on Feb. 21. AI tokens like Render (RNDR) and The Graph (GRT) surged, fueled by market cap doubling in a month. Nvidia's strong earnings report contributed to the bullish trend, with the AI token market cap reaching $17.8 billion.

• Worldcoin surges , boosting 3AC Liquidator's holdings to $900 million amid AI token uptrend fueled by Sora's launch. WLD's rise reflects growing investor interest in AI-driven crypto. WLD price up 23.25% to $8.35, trading volume surges to $1.03 billion. World App wallet subscribers exceed 1 million, signaling project adoption growth.

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Also read - 24 Crypto Update, 21 Feb: Market Bleeds after FOMC Minutes