Crypto Market Update 16-02-24

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Happy Friday everyone!

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The crypto market is on 🔥 has it hasn’t been for a while, so you better keep an eye on this. Here’s your weekly recap 😎📰

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Last 7 Days Market Performance 

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Bitcoin is up 9.2%, now at $ 52,000.00 📈

Ethereum is up 11.4%, now at $ 2,800.00 📈

Total crypto market cap: $ 2.04 Trillion

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Fact for the week 🤔:

💾 Nvidia stock price is on fire. The market capitalization of the American chip maker has soared to $1.7 trillion, matching the combined value of all Chinese stocks. Impressive! This growth contrasts sharply with the downturn in the Chinese stock market, where economic challenges have led to a significant drop in the Hang Seng index.😬

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Onto this week’s updates 🚦

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🔴 Ethereum fees soar 💰

Ethereum's transaction fees just hit an eight-month high, all thanks to a buzz around a cool new digital token idea that got everyone trading like crazy (the ERC-404 if you want to know). This hike in fees shows just how much excitement new digital goodies can bring to the Ethereum world, making it a bit pricier to get in on the action. 🖥️
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🟡 Ethereum Staking Boom 📈

A whopping 25% of all Ethereum is now staked on the network, hitting a new high. While staking has become super popular, especially with cool tools like Lido making it more accessible to join, the rewards have dipped from a juicy 8.6% to below 4%. But with over $73 billion worth of Ethereum staked, it's clear everyone's keen on securing the network and earning some rewards. 🪙
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🟢 Bitcoin Halving Shake-up 🚀

Grayscale's latest report: the 2024 Bitcoin halving is gonna be a game-changer. With miners hustling hard and Bitcoin Inscriptions making waves, plus ETFs giving Bitcoin a new cool factor, this won’t be the usual halving we’ve seen so far. The digital asset management firm is advising enthusiasts to puckle up for an exciting ride this year! 🌊

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🎬 “We’re back”, that’s what everyone is saying. And if that is true, prepare yourself because things can get crazy, literally ❤️🔥

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You can always find us at lympid.io ✅

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Lympid: Crypto interests on a trusted, regulated platform

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Talk next week 👋