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Weekly Wrap Up - February 12, 2024

Gain access to our weekly crypto wrap up, a recap of crypto news and market movements, ETH could reach $27,000 at the top of the current bull cycle, predicts Ethereum community member and investor Ryan Berckmans. The current bull cycle is the first for Ethereum since its transition to a proof-of-stake system.

$8.6 Million From FTX, Alameda Wallets Move To Binance Address: Nansen

Nansen reported asset transfers from FTX holdings to a Binance address that included nearly $8.6 million in various cryptocurrencies. The assets came from addresses linked to the beleaguered exchange FTX and Alameda Research.

Web3 Healthcare Information Platform Rymedi Raises $9 Million In Series A Funding

Web3 healthcare data company Rymedi has secured $9 million in Series A funding. RW3 Ventures and White Star Capital co-led the round, which also saw participation from Blockchange Ventures and Avalanche's Blizzard Fund.

BUSD Market Cap Down 90% From All-time High As Stablecoin Declines

BUSD's market capitalization is down 90% from its all-time high, according to CoinMarketCap data. Meanwhile, the FDUSD stablecoin continues to grow and is now at a market cap of over $470 million, according to CoinGecko.

Call Of Duty Style Crypto Video Game "Shrapnel" Boosts

Developed by Neon Machine, “Shrapnel” has raised $20 million in Series A funding with Polychain Capital leading the round. "Shrapnel" is a first-person shooter similar to the mega-successful Call of Duty game franchise.

Deutsche Bank And SC Ventures Complete First Stablecoin Swaps On UDPN: Report

Deutsche Bank and SC Ventures have completed the first stablecoin swaps on the Universal Digital Payments Network, Financial Express reported. UDPN was launched in Davos earlier this year to support the development of stablecoins, CBDCs and digital currency infrastructure.

North America Leads The World In Cryptocurrency Use, Says Chainalysis

The US and Canada contributed 24.4% of global transaction activity over the past year, blockchain intelligence firm Chainalysis found. North America has the most active institutional investors in cryptocurrencies, however DeFi usage is declining due to regulatory uncertainty, the firm said.