From today, Ethereum with increased scalability, security and network performance

Cryptocurrency markets saw a relatively quiet time last week in terms of price movements as the Federal Reserve's interest rate decision and press conference took center stage.

As widely expected FOMC (Federal Open Market Committee) maintained the federal funds rate at a target level of 5,25%. – 5,50 percent, but the factor negatively affecting the markets was the speech of President Powell, who somewhat dispelled investors' hopes for a reduction in interest rates at the next meeting in March.

Apart from stocks, cryptocurrency markets also saw an initial decline but have since rebounded. Bitcoin it currently sells for $42 on the platform eToro.

Markets will be watching for upcoming data releases such as CPI (Consumer Price Index) inflation and unemployment data to see how they may impact decision-making Fed at the next meeting in March.

We've seen crypto prices perform significantly well in times of loose monetary policy in the past, so any signs of further decline in inflation along with weaker employment data could be the perfect mix to potentially push cryptocurrency prices higher.

After successfully launching on the Goerli and Sepolia testnets, Dencun's upgrade to the Ethereum network is expected to roll out today (February 7) on the final Holesky testnet.

Dencun marks the beginning of "The Surge" era in Ethereum, which aims to increase network scalability, security and performance. The update is also expected to significantly reduce transaction (gas) fees on Layer 2 networks in the Ethereum ecosystem.

If the Dencun update on the Holesky final testnet is successful, the update will be rolled out to the Etheruem mainnet on February 8.

The RNDR token gains 20% in a week

Render (RNDR) was one of the best performing cryptocurrencies last week, gaining 20%. The move appears to be in response to Coinbase's announcement to include the token in its listing roadmap.

Render is a network that allows users to rent out unused graphics processing unit (GPU) power to artists and studios who need it to render high-quality graphics.

Currently, the price of RNDR on the eToro platform is USD 4,381.

The Tether issuer's audit report reveals BTC holdings worth over $2,8 billion

Tether, the issuer of the USDT stablecoin, recently announced its approval for Q2023 XNUMX. The audited report contains a comprehensive analysis of Tether's financial situation, including information on its bitcoin holdings.

Key audit findings show that Tether made a profit of $2,85 billion for the quarter, of which $1,85 billion came from gold and bitcoin holdings.

Cash and cash equivalents currently cover 90%. of all issued tokens, and the excess equity is $5,4 billion, which is undivided profit in addition to the reserves held by Tether. The positive excess equity is now enough excess to remove the impact of collateralized loans on token reserves, Tether CTO Paolo Ardoino said in a tweet.

USDT is widely considered to be the largest stablecoin in the cryptocurrency industry, allowing users to remain in the cryptocurrency ecosystem without having to convert back to fiat currency. Reporting on a solid balance sheet and financial data can go some way to increasing confidence in an issuer that was once subject to intense scrutiny.

Ripple co-founder reports "unauthorized access" to personal XRP accounts

Co-founder Ripple, Chris Larsen, tweeted on X that 213 million XRP (approximately $112,5 million) was transferred from his personal XRP accounts in multiple transactions to various external wallet addresses.

His confirmation of unauthorized access to his accounts was in response to the tweet @zachxbt, who initially thought Ripple had been hacked.

Larson added that:

“They were able to quickly detect the problem and notify the exchanges to freeze the affected addresses. Law enforcement is already involved.”