This week, the cryptocurrency market faced significant downturns, with Bitcoin (BTC) leading the decline. Bitcoin fell over 5% yesterday, dipping below the $80,000 mark for the first time since November 2024. This drop is attributed to mounting economic uncertainties, including President Donald Trump's proposed 25% tariffs on imports from Mexico and Canada, set to take effect in early March. These trade policies have raised investor concerns about potential global inflation and slowed economic growth. ​

The market's instability was made worse by that record-breaking $1.5 billion hack of Ethereum (ETH) from the Bybit exchange we mentioned last week. This security breach has shaken investor confidence, contributing to the broader sell-off in the crypto space. As a result, the global cryptocurrency market has lost over $1 trillion in value since its peak in around mid December 2024. ​

Investor sentiment toward Bitcoin has turned bearish, as shown by substantial outflows from Bitcoin backed ETF’s. Over the past week, these ETFs have collectively lost billions in assets, reflecting growing concerns over market volatility and economic policy uncertainties. The recent downturn has prompted investors to reassess their exposure to Bitcoin related financial products. ​

Ethereum (ETH) has not been immune to the market's bearish trend. ETHs value has declined to its lowest point since January 2024, influenced by both the broader market sell-off and the recent Bybit hack. Ethereum backed ETFs have seen notable outflows, as investors react to the heightened uncertainty surrounding the asset's short term prospects. ​

Metallicus, a leader in blockchain technology for financial institutions (and the company behind Metal Pay), has partnered with Payfinia, an instant payments service provider and U.S. Credit Union Service Organization (CUSO), to establish a framework for offering embedded instant payment capabilities coupled with cryptocurrency services to credit union members nationwide.

Payfinia will also join the Metal Blockchain Banking Innovation Program, an incubator led by Metallicus that empowers financial institutions to explore blockchain technology. Through this program, members collaborate with Metallicus’ industry-leading engineering team to develop compliant financial solutions, including stablecoins, instant payments, tokenized assets, and digital identity solutions. All innovations are built on Metal Blockchain, a BSA-compliant blockchain with integrated KYC/AML controls, ensuring security and regulatory compliance from the ground up.

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This week Paul Grey dropped two new videos! The first video covers the Web Browser version of the WebAuth.com Wallet by Metallicus and how to add signing devices (or passkeys) to authorize transactions. Securely keep all of your digital assets in one place and control them with a secure Yubi key, Face ID or device of your choice.

And secondly A casual step by step overview of all the features on Metal X (the decentralized exchange) and how to use them.

Walk through the DEX Trading, AMM Swap, Liquidity Pools, Yield Farming as well as the Fiat Onramp, Xtokens, OTC Trading Desk, Streaming Payments, The Gift Card and of course the Lending Protocol.

Check out this video and more here on youtube or use the vimeo link for translated titles. 

This week’s 7 day snapshot sees LOAN Protocol (LOAN) and XPR Network (XPR) as the only assets available in Metal Pay posting gains this week. Meanwhile, all other assets we cover were down in the red. While some projects saw increased attention, overall sentiment remained mixed amid ongoing volatility.