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The crypto market rose in response to Fed Chair Jerome Powell’s positive comments. Powell predicted yesterday that 2023 would see a significant decline in inflation. The total crypto market cap surged by 2.33%, rising all the way to $1.09T. Up by 5.4%, MATIC climbed to $1.3 level. The Fear and Greed Index, too, returned to 58/100. BTC, which reclaimed the $23K mark, is expected to touch $24K.
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Market pulse
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Bitcoin Fear & Greed Index
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Top Gainers and Losers
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What's in the news
Bitcoin Fear & Greed Index
*Last updated at 9:00 am, 8 February 2023
From the crypto news wires 📰
😇 Crypto community offers aid to TurkeyFollowing the recent earthquakes in Turkey, the Web 3.0 community has decided to offer aid to those affected by the disaster. Various crypto companies—including Binance, Tether, Bitfinex, OKX, and Kucoin—have pledged to donate over $9M. Avalanche Foundation donated $1M in AVAX tokens. Binance CEO Changpeng Zhao, too, announced it would airdrop $100 (1,883 TRY) in BNB, amounting to $5M.
🎯 Record growth for Cardano stablecoinDjed, the stablecoin by COTI that runs on Cardano, has seen the highest growth in terms of unique addresses, Cardano’s daily stats show. The stablecoin has seen a 14,587% rise in the number of unique addresses among Cardano dApps. Furthermore, according to DeFiLlama statistics, the Cardano DeFi TVL has seen a growth spurt of over 100% in one month. The TVL is currently over $103M.
🗞 Lido upgrade proposed ahead of ShanghaiLido, Ethereum’s well-known liquid staking platform, has now proposed an upgrade to its protocol after Ethereum’s Shanghai upgrade next month. The new upgrade will help decentralize Lido by introducing Staking Router architecture. It will also lay out the process for users looking to redeem staked ETH. The proposals will be put to vote before the Lido DAO later this month.
📲 Nokia’s metaverse connectionNokia, the well-known phone manufacturer, has been trying to develop industrial use cases for the metaverse, Nokia’s CTO Robert Joyce revealed. Last year, Nokia partnered with an Australian university to develop a 5G-connected microbrewery that employs metaverse technology. Further, Nokia is testing the metaverse to connect technicians of aviation brand Cessna to remote airports.
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