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BTC price tumbled back under $40,000 as on-chain metrics indicate dwindling demand from new investors, while long-term holders largely dominate the market.

GameFi’s biggest struggle up to this point is a lack of sustainable rewards over a long period of time.

After raising almost $47 million through donations in Bitcoin and other cryptocurrencies, Ukraine announced Wednesday it would reward those who have helped fund the country’s war against Russian invasion.

The Central Bank of Russia reported the country’s money supply was 65.3 trillion rubles as of Feb. 1 — roughly $629 billion with the recent drop against the U.S. dollar.

“It’s lost a lot of value, but at a point where it’s trillions of dollars of value contributing to it and the whole ecosystem growing around it,” he said.

It’s a similar idea to Coinbase Lend, which was canceled after SEC threats.

According to estimates by Larry Cermak at The Block Research, nearly $5 billion in open interest was wiped out in as little as half an hour. That helped to shave cryptocurrency’s total market capitalization down to $around $2.3 trillion, off sharply from last month’s record high above $2.6 trillion.

Hashrate has now recovered to early June levels indicating that miners are coming back online after China’s crackdown.

The hacker began returning the funds almost two weeks ago.

Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound.

The roll-out, which marks the first international expansion of PayPal’s cryptocurrencies services outside of the United States, could inspire further mainstream adoption of the new asset class.

Bitcoin soared to $40,000, a rally attributed to traders exiting bets on declines & ongoing speculation over Amazon’s potential involvement.