Due to the uncertainty surrounding banks, the leading crypto Bitcoin has exceeded $ 28 thousand. Amid this wave of excitement in the crypto market, some altcoins have seen strong gains.
Bitcoin exceeded 28 thousand dollars, altcoins came after!
As you follow on Kriptokoin.com, the price of Bitcoin made a move to surpass the $ 28,000 region with a 16% increase in value in the last 7 days. At press time, the leading cryptocurrency was trading at $28,063, up 2.4% in the last 24 hours. Meanwhile, BTC price marked $28,459 as its daily high. It also traded back to the daily low at $26,877.
Overall, this week, Bitcoin has gained over 37% against the US dollar. Bitcoin’s market cap has increased by 66% year-to-date, adding $194 billion in 2023, especially amid fears of a global banking crisis. Thus, Bitcoin surpassed the stocks of Wall Street banks. Altcoins also mostly followed their lead. Especially the recent trend of AI coin projects have seen a strong increase. When Bitcoin broke above the psychological resistance of $28,000, all 5 AI coin projects rose up to 40% on a daily basis. Of these, DOC.COM (MTC) came to the fore with an increase of 38%.
Top 5 AI coins with the most growth / Source: CoinMarketCapIn addition, Web3 coin projects in the market received their share of positive sentiment. DAOStack (GEN), a Web3 coin, has attracted attention with a daily increase of over 260%. Lost Worlds (LOST) followed, up 93%.
Top 5 Web3 coins with the highest increase / Source: CoinMarketCapWill the banking crisis calm down?
Valuations of US banks have plummeted amid ongoing fear surrounding regional banks in the country after developments last week, including the shutdown of Silvergate and the subsequent takeover of Signature Bank and Silicon Valley Bank by regulators. Bitcoin’s price surged on March 19, surpassing the $28,000 region, marking a 16% increase in value over the past 7 days.
Credit Suisse was acquired by UBS earlier in the day for around $2 billion as part of Swiss authorities’ contingency plans to preserve the country’s financial stability. The $2 billion deal represents a significant reduction of approximately $8 billion under Credit Suisse’s market cap as of March 17, according to Companies Market Cap data.
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