February is historically a strong month for Bitcoin and Ethereum.
February has historically been a strong month for Bitcoin and Ethereum. Bitcoin has ended nine out of the last eleven Februaries in the green, while Ethereum has finished higher in six out of the last seven Februarys. There are some exciting developments on the horizon, including the prediction by Standard Charter of a 70% rise in Ethereum’s price if it follows the same pre-ETF uptrend as Bitcoin. In addition, major events like the Bitcoin halving, Polygon’s EIP upgrade, and blockchain developer gatherings for Solana, Avalanche, and Tezos are set to take place. Stay informed and keep an eye on the cryptocurrency market this February!
Bitcoin’s Historical Performance in February
February has historically been a strong month for Bitcoin, with the cryptocurrency finishing nine out of the last 11 Februarys in the green. This means that, on average, Bitcoin has experienced a median gain of around 12.2% during this month. In fact, the only two Februarys where Bitcoin did not end in the green were in 2014 and 2020. These favorable February statistics indicate that Bitcoin has a tendency to perform well during this time of the year.
Ethereum’s Historical Performance in February
Similar to Bitcoin, Ethereum has also had a positive track record in February. It has finished higher in six out of the last seven Februarys. While Ethereum has not been around as long as Bitcoin, it has still proven to be a strong performer during this month. This historical data suggests that Ethereum may continue to see positive price movement in February.
Predictions for Ethereum’s Price
Standard Charter, a leading international banking group, predicts that Ethereum’s price could rise by 70% if it follows the same pre-ETF uptrend as Bitcoin. This prediction is based on the observation that when Bitcoin experienced a significant price increase after the approval of its ETF, Ethereum also saw a notable increase in price. If Ethereum follows a similar pattern to Bitcoin, it could potentially see a substantial rise in price in the near future.
Genesis Settles SEC Lawsuit
Genesis, a major crypto lending company, recently settled an SEC lawsuit by agreeing to pay a $21 million fine. The settlement comes as a result of Genesis’ involvement in the Gemini earn lending program, which the SEC had concerns about. Genesis will only have to pay the fine if it is able to fully repay its customers in its bankruptcy proceedings. This settlement marks a significant development in the crypto lending space and shows the increasing scrutiny and regulatory actions being taken by authorities.
Binance Freezing Stolen Ripple XRP Tokens
Binance, one of the largest and most popular cryptocurrency exchanges, has taken action to freeze over $4 million worth of Ripple’s XRP tokens that were stolen from a co-founder’s wallet. The tokens were stolen in a hack that targeted Ripple’s executive chairman, Chris Larsen. In response, Binance has frozen the stolen tokens and is closely monitoring the wallets associated with the hackers. This incident highlights the importance of security measures and the proactive steps taken by exchanges to protect user funds.
The Killer Whales TV Show
The Killer Whales TV show is set to premiere in February and aims to showcase overlooked crypto projects. The show, which can be described as a combination of Shark Tank, America’s Got Talent, and UFC, brings together a panel of experts from various backgrounds to evaluate and provide feedback on crypto projects. The focus of the show is on entertainment and raising awareness of projects that may have been overlooked by the industry. It provides a platform for founders to present their ideas and receive valuable insights from the judges.
Token Launch of Root Protocol
Root Protocol, an operating system for managing web3-related activities, is preparing for its token launch. The protocol aims to unify various chains and decentralized applications into one system, making it easier for users to manage their assets and activities across different networks. It offers a central place where users can interact with different accounts and chains, streamlining the web3 experience. By providing a unified system, Root Protocol aims to simplify the decentralized space and enhance user accessibility and convenience.
Chainlink’s Vision of Tokenization
Chainlink, a popular decentralized oracle network, suggests that all assets and identities will be tokenized in the future. The network acts as a bridge between smart contracts on the blockchain and real-world data, enabling secure and reliable data feeds. With its vision of tokenization, Chainlink foresees a future where traditional assets, such as real estate and stocks, will be represented as tokens on the blockchain. This would bring greater efficiency, transparency, and accessibility to various industries and markets.
Upcoming Events in the Crypto Space
Several significant events are scheduled to take place in the crypto space in the coming months. These events include the Bitcoin halving, which is set to occur in April and will have a significant impact on the supply and mining rewards of Bitcoin. Polygon, a layer-2 scaling solution for Ethereum, is scheduled to undergo an EIP upgrade on February 6th, aiming to enhance its interoperability and compatibility with the Ethereum ecosystem. Additionally, blockchain developer gatherings for Solana, Avalanche, and Tezos are scheduled, providing opportunities for developers to network and learn about the latest advancements in these blockchain platforms. These events highlight the growing activity and innovation within the crypto space, offering opportunities for investors, developers, and enthusiasts to stay informed and engaged.
