The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth vastly outperforms top Wall Street bank stocks, particularly as fears of a global banking crisis are rising. BTC market cap daily performance chart. Source: TradingView Moreover, Bitcoin has decoupled from United States stocks for the first time in
Month: March 2023
Last week’s rapid collapse of Silvergate, Silicon Valley Bank (SVB) and Signature Bank has highlighted the fragility of the traditional banking sector while depriving crypto of its primary fiat on-ramps in the United States. Most observers agree that the collapse of SVB, like the one of Silvergate, was largely the result of unfavorable market conditions
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in
In cryptocurrency trading, a “buy wall” is a massive buy order, or multiple buy orders, around a particular price level. Conversely, a “sell wall” is a significant accumulation of sell orders at a given price level. Before understanding how buy and sell walls work, it is important to know what an order book and its
Nonfungible token trading volumes took a massive beating following the collapse of Silicon Valley Bank last week as traders fled the markets, fearing the repercussions of a major United States bank going under. According to a March 16 report from data aggregation platform DappRadar, NFT trading volumes were hovering between $68 million to $74 million in
Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks. In a March 17 notice, Representatives Maxine Waters and Patrick McHenry — the ranking member and chair of the committee, respectively —
Bitcoin (BTC) hit new nine-month highs on March 17 as the latest events in the growing United States banking crisis boosted crypto markets. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Banking crisis volatility sees $27,000 BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $27,025 on Bitstamp before consolidating. At the time
The total crypto market capitalization increased by 26% in seven days, reaching $1.16 trillion on March 17. Bitcoin (BTC) was the biggest winner among the top 20 coins, up 31.5%, though some altcoins gained 50% or more during the period. Total crypto market cap in USD, 12-hour. Source: TradingView The surge in cryptocurrency prices occurred
Beginners should undertake data science projects as they provide practical experience and help in the application of theoretical concepts learned in courses, building a portfolio and enhancing skills. This allows them to gain confidence and stand out in the competitive job market. If you’re considering a data science dissertation project or simply want to showcase
Institutional cryptocurrency custodian Protego’s conditional national trust banking charter has expired without it receiving permanent approval, according to a March 17 report in Fortune. A spokesperson for the United States Office of the Comptroller of the Currency (OCC) told Fortune that the firm did not meet pre-conversion requirements. According to the spokesperson: “[The] pre-conversion requirements
The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if
If Ripple wins against the US Securities and Exchange Commission (SEC) in its legal battle, a relisting of the XRP token on the largest American crypto exchange Coinbase will be one of the biggest stories within the XRP community. In a new interview, Paul Grewal, Chief Legal Officer (CLO) at Coinbase has now spoken in
After a recovery on March 16, the United States equities markets are again down on March 17. Investors remain concerned about the vulnerability of the banks in the U.S. and Europe. A silver lining for cryptocurrency investors is that Bitcoin (BTC) has remained decoupled with the equities markets and has risen to its highest level
GPT-4, the latest version of artificial intelligence chatbot ChatGPT, believes the events of the last seven days could be bullish for Bitcoin (BTC), Ether (ETH), and Cosmos (ATOM), according to an AI-trading experiment run by Cointelegraph. The experiment is aimed at understanding GPT-4’s potential biases towards certain cryptocurrencies, how the events of last week could
Cryptocurrency investment firm Grayscale Investments is taking more time to decide whether it should acquire and sell post-Merge forked Ethereum tokens. Grayscale announced on March 16 that the company intends to extend the review period for evaluating the market environment to determine whether it can acquire EthereumPoW (ETHW) tokens — the forked asset that emerged after Ethereum’s
Troubled SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court to preserve value. Announcing the news on March 17, SVB said that the funds of its venture capital arm SVB Capital and the broker-dealer SVB Securities, as well as funds of general partner
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