19th February 2024

Last week witnessed Bitcoin exhibiting a robust performance, maintaining its momentum above the $51,000 threshold. Starting the week on a high note, Bitcoin experienced a minor setback on Valentine's Day but quickly rebounded, stabilizing near $52,000. Currently, the leading cryptocurrency is trading at $52,564 marking a substantial increase of over 9% in the past week.

The surge began early in the week when Bitcoin crossed the $50,000 barrier for the first time since December 2021. According to analysts speaking with Decrypt, this upward movement can be attributed to significant accumulation by large investors and a resurgence of interest from Wall Street, particularly in technology sectors.

In January, the U.S. Securities and Exchange Commission approved ten spot Bitcoin exchange-traded funds (ETFs), which, despite an initial price dip, have since contributed to the cryptocurrency's recovery.

A brief downturn was observed on Valentine's Day, following a report from the U.S. Labor Department indicating higher-than-anticipated inflation rates for the last month. However, this setback was short-lived, with Bitcoin's value climbing steadily in the following days, often nearing the $52,000 mark.

The ripple effects of Bitcoin's performance were felt across the cryptocurrency market. Ethereum, ranking second in market capitalization, has seen an increase of more than 11% over the week, with its price reaching $2,792. Solana, momentarily overtaking Binance's BNB Coin for the fourth position, is currently priced at $109.71, essentially unchanged from the week's start. Notably, meme coins such as Bonk, Pepe, and Dogwifhat also experienced growth, maintaining a significant uptrend over the week.

Investor focus appears to be predominantly on Bitcoin, especially with the much-anticipated halving event drawing near and the influx of institutional capital following the approval of new ETFs, signaling a heightened interest in the cryptocurrency space.

In other news, Aquanow was awarded a VASP license by Dubai’s VARA, Fils added more payment providers to its blockchain-enabled sustainable infrastructure, Disney acquired $1.5 Billion stake in Epic Games, aims to create joint Metaverse and Asset manager Franklin Templeton files for spot Ethereum ETF. Citigroup succeeds with private equity fund tokenization on Avalanche blockchain, AUS and Sui launch Blockchain Academy to seed the next generation of web3 builders, Louis Vuitton turns to blockchain for new fine jewelry collection, and Myco blockchain video streaming platform to cover Pakistan cricket season.?

In the News:?

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Aquanow was awarded a VASP license by Dubai’s VARA. The license represents a significant achievement and requires the completion of post-license conditions before operations can begin. Zawya ?

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Fils adds more payment providers to its blockchain-enabled sustainable infrastructure. UAE's Fils, an ESG-focused fintech, partners with Telr, enhancing e-commerce with sustainable finance solutions, aligning with global objectives. Lara on the Block ?

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UAE Phoenix group crypto self-mining business witnesses 480% YOY growth . Phoenix Group UAE achieved remarkable 2023 financial results led by blockchain and crypto, featuring a 725MW mining operation. Lara on the Block ?

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DMCC Crypto Center and QX Lab to launch AI Center. UAE's DMCC and Qx Lab AI join to establish the DMCC AI Center, amplifying productivity with innovative generative AI solutions. Lara on the Block ?

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Sastanaqqam A blockchain web3 company moves headquarters to UAE. Sastanaqqam relocates HQ to Dubai's One Central, bolstering the city's tech prominence and joining its vibrant crypto community. Lara on the Block ?

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Bitcoin breaches $1 trillion market cap. Bitcoin surges past $51,000, hitting $1 trillion market value with 93.46% of 21 million BTC in circulation. Cointelegraph ?

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Disney to acquire a $1.5 Billion stake in Epic Games, aims to create a joint Metaverse. The partnership aims to create a metaverse that integrates Disney's intellectual properties (IPs), allowing them to interact and coexist within the Fortnite universe. Bitcoin.com ?

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Analog secures $16 million for web3 interoperability boost, launches cross-chain partnership program. Analog's $16M investment fuels Web3 protocol advancement, backed by Tribe Capital, Near, and Mike Novogratz’s Samara Asset Group. Bitcoin.com ?

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Asset manager Franklin Templeton files for spot Ethereum ETF. Franklin Templeton pursues SEC approval for an Ethereum ETF, aiming to simplify American investors' access to Ether. Watcher Guru ?

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Citigroup succeeds with private equity fund tokenization on Avalanche blockchain. Citigroup, in collaboration with WisdomTree and Wellington Management, completes a blockchain trial tokenizing private equity funds, showing financial system potential. Unlock Blockchain ?

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Gaming projects set to unlock $175 million in tokens within weeks. Key gaming tokens, including SAND, APE, IMX, PRIME, YGG, and GMT, unlock substantial amounts, potentially impacting market dynamics. Decrypt ?

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Bitcoin has become world's 'most popular investment asset,' says microstrategy chairman. Microstrategy's chairman, Michael Saylor, discussed Bitcoin's popularity, attributing it to unique qualities and increased demand from spot Bitcoin ETFs. Bitcoin.com ?

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AUS and Sui launched Blockchain Academy to seed the next generation of web3 builders. A key milestone among various academic efforts, this new partnership will introduce advanced blockchain education at the university and promote further technological innovation. Zawya ?

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Sushi partners with layer N to launch high-speed derivatives exchange. Sushi debuts Susa, a high-speed derivatives exchange with Layer N, boasting over 100,000 transactions/sec and < 1 ms latency. Bitcoin.com ?

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Ripple aims to expand regulatory reach with standard custody acquisition. Ripple's acquisition of Standard Custody reflects blockchain's integration into regulated finance, bolstering Ripple's institutional solutions. Bitcoin.com ?

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Arte News:?

Louis Vuitton turns to blockchain for a new fine jewelry collection. Louis Vuitton integrates blockchain for diamond traceability, boosting consumer trust and industry-wide adoption amid geopolitical changes. Jing Daily ?

Myco blockchain video streaming platform to cover Pakistan cricket season. MENA's Myco secures HBL PSL rights, offers HD matches free, and integrates Simpaisa for easy earnings, enhancing global cricket viewing. Lara on the Block ?

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Watch out ERC-404, there’s another hybrid NFT standard in town. DN404, a new experimental hybrid token, and NFT standard, has been introduced by developers who assert they have addressed the inefficiencies found in ERC-404. Cointelegraph ?

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BRC-420: A game changer for the NFT market and web3. The Bitcoin blockchain advances in the NFT market with the launch of BRC-420 in 2023, enabling rich metadata capabilities and creator royalties, enhancing security and decentralization for digital ownership. Benziga ?

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Ethereum NFTs rally, with EtherRock and BAYC leading sales. Ethereum's NFT market sees soaring sales, with top items like Wrapped Ether Rock #46 and Bored Ape Yacht Club #1726 commanding high prices. Cointelegraph ?

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Glenlivet distillery mixes Ethereum NFTs and AI into a whiskey collection. The Glenlivet unveils "The Twelve Elements," a 50-year-old whiskey collection, merging tradition with blockchain NFT technology and AI-designed labels. Decrypt ?

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You can now earn crypto by playing Solana game 'aurory' on the epic games store. Aurory's Seekers of Tokane RPG, once exclusive, is now open on the Epic Games Store, offering Dracurve's Awakening event and crypto rewards. Decrypt ?

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Avalanche app Battle.Tech brings socialfi to gaming with 'player passes'. Battle.tech pioneers SocialFi in gaming with tokenized "player passes," bridging Web2 gaming and Web3 functionality. Decrypt ?

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Salsa Valley onboards users into web3 with a spicy mix of games, a metaverse, and crypto. Salsa Valley, founded by Alex Kytniukh and Yulia Mazura, merges Latin culture and crypto, Miami's 2023 Startup of the Year. Refresh Miami ?

Embracing the Spirit of Nintendo: NexGami ventures into the Wild Frontier of Web3 Gaming. NexGami founder Brice aims to revolutionize gaming with a Web3 platform, inspired by Nintendo's focus on fun. BSC News ?

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Telefónica teams up with Chainlink to provide security against 'SIM swap' hacks. Telefónica partners with Chainlink to enhance Web3 security, thwarting "SIM Swap" attacks via GSMA Open Gateway integration. Coindesk ?

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Moonland web3 game targets 100 million daily active players as it gears towards a March presale. $MTK airdrop. Despite the bear market, blockchain gaming thrives; Moonland anticipates a surge in active gamers with its upcoming $MTK token launch. Bitcoin.com ?

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From anatomy to auction houses: Grant Riven Yun's $2 million art and medicine journey. Rising star Grant Riven Yun merges medical academia and artistic prowess, challenging career norms with $2M in sales. Decrypt ?

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Microsoft will bring once-exclusive Xbox games to Playstation and Nintendo. Microsoft expands game availability to Sony PlayStation and Nintendo, yet Xbox Game Pass exclusivity remains untouched. Decrypt ?

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Ex-VR/AR lead at Unity joins a new spatial computing cloud platform to enable the open metaverse at scale, AI, and Web3. Ozone's platform transforms digital realms, intertwining crypto and AI, while Apple's Vision OS heralds a booming spatial computing era. Cointelegraph ?

The Green Block News:?

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Outstanding ESG sukuk surges to $36.1bln amid sustainability drive. ESG sukuk surged to $36.1 billion by 2023-end, aiming to represent 7.5% of global sukuk, with UAE leading issuance. Zawya ?

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ADNOC wins Sheikh Hamdan bin Zayed Environmental Award. ADNOC earns Sheikh Hamdan Bin Zayed Environmental Award for exemplary low-carbon initiatives, advancing UAE's sustainability agenda. Zawya ?

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ADIB continues to drive sustainability with the "VOLT" Electric Vehicle Finance Program. ADIB's Volt electric car financing program thrives, with over 600 bookings, supporting UAE's sustainability objectives. Zawya ?

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DGR explores enhancing cultural heritage contribution in inclusive sustainable development. Sheikh Fahim Al Qasimi states: The DGR is committed to offering extensive assistance to ensure the preservation of Arab heritage in the UAE. Zawya ?

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DSCE adopts green energy and sustainable initiatives to support infrastructure. Dubai's Supreme Council of Energy, led by H.H. Sheikh Ahmed bin Saeed Al Maktoum, discussed pivotal energy strategies. Economy Middle East ?

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Keolis MHI marks UAE's National Environment Day with a sustainable harvest initiative. Keolis MHI, Dubai's transport leader, celebrated UAE National Environment Day, promoting sustainability through community harvest and eco-friendly practices. Zawya ?

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The American University of Bahrain concludes its Sustainability Week. In Riffa, Bahrain, AUBH celebrated Sustainability Week with speakers emphasizing corporate responsibility and green practices. Zawya ?

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Sustainable aviation fuel technology company Velocys raises $40 million. Velocys, a sustainable aviation fuel firm, secured $40M post delisting; and aims to lead in eco-friendly aviation fuel production. ESG Today ?

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Panasonic Energy partners with NOVONIX for sustainable synthetic graphite supply in EV battery production. Panasonic partners with NOVONIX for synthetic graphite, advancing EV batteries while targeting a 50% carbon footprint reduction by 2031. Cleantechnia ?

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HSBC to finance Google Cloud sustainability program companies. HSBC partners with Google Cloud, aiming to deploy $1 billion for climate tech finance, fostering sustainability solutions. Environment Energy Leader ?

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Sofitel Dubai The Obelisk earns a gold tier rating for sustainability efforts. Sofitel Dubai The Obelisk achieved Gold Tier sustainability status through initiatives reducing waste and energy consumption. Hotilier Middle East ?

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Three Radisson Hotels in Dubai have been awarded the esteemed “Dubai Sustainable Tourism Stamp”. Dubai honors three Radisson hotels with the "Dubai Sustainable Tourism Stamp," recognizing their eco-friendly commitment among 70 citywide. Zawya ?

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Emerson to highlight innovative solutions for sustainable operations at EGYPES 2024. Emerson showcases sustainable energy solutions at EGYPES 2024 in Cairo, focusing on operational excellence and strategic partnerships. Zawya ?

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Veolia and Sorbonne University Abu Dhabi sign an MoU to collaborate on research and promote sustainable practices in the UAE. Veolia and Sorbonne Abu Dhabi unite for a five-year collaboration, amplifying recycling and sustainability efforts in the UAE. Zawya ?

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The inaugural Healthy Innovation Conference offers a glimpse into the future of the sustainable food industry. Dubai to host the Healthy Innovation Conference (HiConf) on February 29, emphasizing food technology and alternative proteins. Zawya ?

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