Bitcoin surged past $40k as Ukraine opens the floodgates to crypto donations and the West increases pressure on Russia, ratcheting up demand from ordinary citizens for a store of value amid the ruble collapse.
Since the invasion began, Bitcoin traded as low as $34K but now trades 17.80% higher and above its 20D moving average. Check out our last newsletter for an in-depth analysis on Bitcoin’s divergence.
The crypto community has united to support Ukraine as over $55M was donated over the last week to the government and related causes. Check out this week’s top story for an in-depth analysis on the significance of Ukraine’s crypto campaign.
According to data from glassnode, Bitcoin supply in long-term wallets has reached a record high of 76.5% (see quantitative section).
A study conducted by Joule revealed that Bitcoin carbon intensity surged by 17% as Chinese miners left behind hydropower mining for fossil fuels. Check out our Carbon Neutral Bitcoin ETF* and contribution to diminishing Bitcoin’s carbon footprint.
According to a survey conducted by BNY Mellon, 77% family offices with $150M+ AUM are interested in cryptos and 66% intend to increase crypto holdings over the next 1-2 years.