Inflation Reaches 7.9% In February, Highest Since 1982 – March 10

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $39,217

Bitcoin price has erased almost all of its gains from its recent spike, falling back into the $39,000 range to begin Thursday.

Top-20 altcoins have also taken a tumble, as Ethereum drops 5%, BNB falls 7% and Terra drops 2%.

Top Stories for March 10, 2022 πŸ”₯

πŸ‘‰ Inflation Reaches 7.9% In February, Highest Since 1982

Inflation in the United States has reached 7.9%, the highest 12-month increase since 1982 – an entire four decades ago.

The reported Consumer Price Index (CPI) showed a 0.8% increase from the month of January, an accelerating rate from the previously monthly increase of 0.6%. Bitcoin price appears to be relatively unfazed by the news, despite being often promoted as an inflation hedge.

πŸ‘‰ StarkWare Layer 2 Scaling Platform To Raise Funds At $6B Valuation

Ethereum Layer 2 scaling solution StarkWare is reportedly looking to raise around $100 million in funds, at a $6 billion valuation.

StarkWare recently closed a $50 million Series C funding round, which valued the platform at $2 billion. The Series C round saw participation from Sequoia Capital, Paradigm, Three Arrows Capital and more.

πŸ‘‰ LimeWire Returns, Plans To Launch NFT Marketplace

Peer-to-peer file sharing website LimeWire is returning 12 years after shutting down, this time with plans to create a non-fungible token (NFT) marketplace.

The platform is expected to launch in May of this year, with a specific focus on the music industry. It will reportedly be based on the Algorand blockchain and launch with major music artist partnerships.