|MARKET CAP||$1.12 T||6.10%|
|TRADING VOLUME||138 B||15.94%|
|ZOMBIE INU (OLD)||$0.000000000024||85.21%|
|DOGS OF ELON||$0.00014||44.14%|
Marathon Digital Holdings stated that its cash deposits at Signature Bank are secure and accessible, with around $142 million in deposits at Signature Bridge Bank. The bank was established by the US Federal Deposit Insurance Corporation to manage customer accounts at the recently closed Signature Bank. Marathon also confirmed its access to funds for business operations and treasury management and still holds over 11,000 Bitcoin as a financial asset beyond the traditional banking system.
On Monday, March 13th, Circle's USDC stablecoin experienced a significant number of redemptions following a weekend of panic and de-pegging. According to blockchain researcher Nansen, over $1.74 billion worth of USDC stablecoins were redeemed on that day alone. This sudden surge in redemptions highlights the importance of maintaining a stable peg for any stablecoin to ensure investor confidence and prevent market volatility.
Federal Reserve Chair, Jerome Powell, has emphasised the importance of conducting a meticulous and comprehensive review to comprehend the reasons behind the bank's collapse under its watch. The Federal Reserve is currently investigating the factors that contributed to the downfall of Silicon Valley Bank, including its supervision and regulation of the now-defunct financial institution. This investigation aims to identify the shortcomings in the regulatory framework and ensure that such failures are not repeated in the future.
COINGABBAR Views: Over the past three days, there has been a significant increase in the value of BTC, which has spiked by 24%, while ETH has risen by 19%. The question on everyone's mind is whether the market will continue to surge and breach the $25000 and $1700 resistance levels for BTC and ETH respectively, or if it will take a breather. It is important to note that the crypto market is highly volatile and subject to sudden fluctuations. Therefore, it is difficult to predict with certainty what will happen next. For more information Stay tuned with us at www.coingabbar.com
Also read: American Banks Falling Faster than House of Cards | The Race for Bankruptcy
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.