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Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week. The collapse of SVB led to a crisis in the crypto space with USD Coin (USDC) losing its peg to the U.S.
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It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank
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Meta is reportedly working towards additional layoffs that could impact another set of thousands of employees. This comes after the technology company laid off 13% of its workers in November 2022 as part of its cost-cutting efforts. On November 9, CEO Mark Zuckerberg said in a letter shared with Meta Platfroms’
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Maker (MKR) prices are up by almost 20% in the last seven days. The upward trend is attributed to recent poll results announced by Maker that contain a new pricing model. Just last week, Maker made some revisions to an executive poll results. This revised form contains a new pricing model
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On March 6, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which reveals that investors have continued to show negative sentiment toward crypto investment products, with outflows totaling $17 million. The negative sentiment was primarily focused on Bitcoin (BTC), with outflows for the cryptocurrency totaling $20 million.
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Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the
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Bitcoin (BTC) starts a new week with consolidation in the air amid some of the least volatile conditions ever.Despite losing 5% in an hour last week, Bitcoin’s subsequent lack of volatility is on every trader’s mind.The question is whether that will change in the coming days. There are plenty of
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The governance token of MakerDAO, MKR, topped gains last week, trackers on Mar. 5 show. MakerDAO leads weekly gains MKR roared roughly 27% in seven days ending Mar. 5, pushing its market cap to over $942m. At this level, MKR outperforms the broader crypto market, including bitcoin (BTC) and ethereum (ETH). Top weekly
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After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week. NFT Sales Decline Following February Spike in
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