Bittersweet results for Coinbase

There's plenty of volatility in the markets. ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ Market Activity Total Market Cap $1.72T (+9.59%) 24 Hour Volume 115.90B (-3.61%) Notable Movers[(LUNA) $65.39]( (+26.27%) Notable Movers (DeFi)[(API3) $6.87]( (+22.45%) Bitcoin Dominance 42.61 %[(-0.15)]( Bitcoin Price[(BTC) $38,656.72 (+10.28%)]( Ethereum Price[(ETH) $2,627.19 (+11.73%)]( Cardano Price[(ADA) $0,85 (+12.16%)]( Editor's Note The Bitcoin vs. Gold Row, Part 394 Immediately after Russia invaded Ukraine, Bitcoin fell and gold rose. Given how BTC has regularly been touted as "digital gold" — a modern safe haven asset for investors seeking protection from the markets — this wasn't a good sign. But as Thursday progressed, investors seemed to get their appetite for risk back. BTC returned to $39,000, while gold gave up most of its gains. Some on Crypto Twitter claim this is evidence that the "Bitcoin is digital gold" narrative remains accurate — and argue that naysayers were too quick to dismiss the world's biggest cryptocurrency. Unfortunately, it isn't that simple. Bitcoin wasn't the only asset that surged yesterday. Wall Street also rallied after Joe Biden hit Russia with sanctions. Yesterday's remarkable rebound wasn't a ringing endorsement of BTC, it was yet more evidence that the cryptocurrency remains closely correlated with stocks. Bitcoin is 13 year old, and gold has been used as a store of value for millennia. It's simply far too early to decisively conclude whether BTC is digital gold — and no amount of bluster from crypto enthusiasts will change that. Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] Bitcoin makes surprise comeback BTC hit $39,000 on Thursday — hours after Russia's invasion of Ukraine began. The crypto markets joined Wall Street in staging a sudden reversal after Joe Biden confirmed that the West would impose new economic sanctions on Moscow. In other developments, officials from the Federal Reserve have warned that they still plan to increase interest rates next month. Sell the rumor, buy the news? It seems like a massive rotation is underway right now — and according to Natixis portfolio manager Jack Janasiewicz, investors are "selling winners to buy losers." He told Reuters: "Historically speaking whenever you get military incursions, the blueprint has been to sell in the run up to the incursion and once tanks start rolling in across borders, you're supposed to buy it." Donations to Ukraine NGOs surge Non-governmental organizations and volunteer groups in Ukraine have received more than $4 million in crypto donations since Russia began its invasion, according to data from Elliptic. The blockchain intelligence firm says a single NGO received $675,000 on Thursday alone — and on Friday, an additional $3 million was sent by just one donor. One of the beneficiaries is a group called Come Back Alive, which provides military equipment, training and medical supplies to soldiers on the ground. UkraineDAO launches Pussy Riot — a Russian musical group who have been vocal critics of Vladimir Putin — have also announced that they are launching a decentralized autonomous organization called UkraineDAO, writing: "Our goal is to raise funds to donate to Ukrainian civilian organizations who help those suffering from the war that Putin started in Ukraine." Some 10,000 NFTs of Ukrainian flags are now being minted on the Ethereum blockchain — and proceeds from their sale will be donated to local NGOs. Bittersweet results for Coinbase Coinbase's revenue broke records in the fourth quarter of 2021, but the exchange has warned that trading volumes are set to slump in the first three months of 2022. Revenue hit $2.5 billion between October and December — surpassing analysts' expectations. This coincided with Bitcoin rallying to a new all-time high near $69,000. Monthly active users also hit a dizzying 11.4 million. Thanks for reading! Have a great day — more news tomorrow! What is the Metaverse? The Immersive, NFT-Powered Future Internet In the wake of Facebook's rebrand to Meta, everyone’s talking about the metaverse—but what is it? Here’s what you need to know. [Learn More]( [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [App Store]( [Google Play]( [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2022 CoinMarketCap [Update Settings]( | [Unsubscribe]( [coinmarketcap.com]( CoinMarketCap OpCo LLC, 8 The Green, STE 6703, Dover, Delaware 19901, United States