Saint Patrick has arrived and, to celebrate it, the cryptocurrency market has turned green! Let the party begin! Welcome to a new Crypto Economy Weekly Roundup of Crypto News! Do you want to find out everything that happened this week in the world of cryptocurrencies and what will happen in the coming days? Well we’ve got you covered!
While traditional investors and shareholders are holding their heads for the collapse of major banks (and they may fall even more), cryptocurrencies have opened their doors to receive those who seek secure and decentralized alternatives. This week has been the definitive confirmation that cryptocurrencies are here to stay… Although that hurts many.
After the shock caused in the traditional markets by the fall of the SVB bank, even the White House had to intervene to avoid a domino effect throughout the banking system. Far from suffering negative effects, the cryptocurrency market skyrocketed, with several digital currencies climbing double digits in a matter of hours.
Although of course, not everything might be rosy for cryptocurrencies, since USDC, one of the main stablecoins on the market, momentarily lost its parity with the dollar last weekend. But to the relief of investors and holders, who were already beginning to think that everything would end like when LUNA’s UST fell, USDC was able to regain its 1:1 parity. Everything that happened, you can see it in our article HERE. In addition, we take a look at whether the stablecoin may fall once more in the near future. Don’t miss it if you have USDC.
Without a doubt, the cryptocurrency market emerged stronger from the banking crisis that we are still witnessing. Bitcoin, for example, is reaching levels of dominance seen almost a year ago, it shows an incredible 30% rise in just 5 days, our trading expert analyzed it in detail. He did the same with Ethereum and answered the question everyone wants to know: Will ETH reach $2,000?
Ethereum is clearly being the diva of the market, as we are getting closer to its Shanghai update (better known as Shapella), which might be a turning point for its blockchain. Shanghai has already been run on the testnet and although some problems have arisen, it is expected to be quite successful. Do you want to know what changes Shapella will bring and why it is so important? Go to the link!
The week is ending on a high! In fact, in the last few hours, Arbitrum has announced a cryptocurrency airdrop to celebrate its transition to a DAO and the launch of its new token… All roads lead to decentralization. And for lovers of hidden gems in the market, the GMX token is being one of the big surprises, with a rise of 21%.
Lastly, the cryptocurrency market continues to rise and the bull run seems to be non-stop. While on Wall Street the fear that more banks will fail is spreading like wildfire, more and more investors are turning to decentralized and secure alternatives, far from banks and their lack of transparency.
See you next week with more crypto news! Do not forget to check our website every day to be the first to find out regarding all the news.
