This week in coins. Illustration by Mitchell Preffer for Decrypt.

If you’ve been following this column closely since 2022 began, you’ll likely have noticed that while crypto prices have been as volatile as ever, broadly speaking, they haven’t moved much the last few months.

With a market capitalization of $742 billion, Bitcoin is the clear market leader, and often you can take the temperature of the global crypto market simply by looking at Bitcoin’s performance. And while every week throws up new signs of crypto’s steady integration into mainstream markets, Bitcoin has yet to steadily break out of the $40,000 range in 2022.

The world’s favorite cryptocurrency currently trades at around $39,000—negligible growth over the last seven days. Main rival Ethereum fell 2.5% this week, trading at $2,582 as of this writing.

In a week where few prices changed dramatically, two coins did make modest gains: Terra’s LUNA rose 5.8% to $89.86, while Polkadot jumped 6.6% to $18.18.

At the other end of that spectrum, Solana fell 8.3% this week to $81.48 at the time of writing, and Cosmos dipped 8.7% to $27.42.

This week’s news

On Monday, news broke that the Securities and Exchange Commission in Cyprus—a European Union nation despite its geography—approved the launch of FTX Europe, now the second affiliate of the popular FTX exchange after FTX US launched in May 2019. An FTX spokesperson confirmed to Decrypt that the exchange also will soon start servicing the Middle East. 

A couple of weeks ago, the European Union had added a provision calling for a ban on…

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