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Mar 16: Crypto Surges as European Banking Crisis Subsides

Key Takeaways
  • Bitcoin and other digital tokens experienced a surge in value during the early trading hours in Asia on Friday. As traders eagerly anticipate the upcoming FOMC meeting, scheduled for next week, they are also keeping a close eye on the global banking crisis and the US Fed's rate-hike path.
  • In the past 24 hours, the values of BTC, ETH, BNB, and LTC have all experienced significant gains
17-Mar-2023 By: Lokesh Gupta
Mar 16: Crypto Surge


Indices LTP Change (%)
BITCOIN $25329 3.80%
ETHEREUM $1680 2.01%

                                                                                                   CRYPTO STATS(24H) 

Indices VALUE Change (%)
MARKET CAP $1.16 T 4.60%

                                                                                                        Top 5 GAINER

Indices LTP Change (%)
WONDERLAND TIME $1.79 149.38%
MOBILECOIN $0.00035 136.91%
HALODAO $0.000000073 43.06%
SPERAX $0.0064 42.83%
PARIBUS $0.0020 36.44%

                                                                                                          Top 5 Loser

Indices LTP Change (%)
ZOMBIE INU (OLD) $0.000000000025 90.01
RELEASE $0.0000026 69.28%
DRAGON KART $0.0047 53.71%
THE SCONEX $0.0022 52.34%
FRIENDZ $0.0000051 48.01%

The cryptocurrency market has surged as a result 

of measures taken to strengthen the banking industry and speculation that the US may reduce interest rates in the near future, which has boosted investor confidence.

Major Events Around the World

  • Given the recent turbulence in the financial services sector, the European Central Bank (ECB) has taken a decisive step by raising interest rates by 50 basis points on Thursday. This move is a clear indication that the ECB is ready to offer more liquidity to financial institutions if the need arises. 

  • The Labor Department announced on Thursday that the number of initial claims for state unemployment benefits in the United States has decreased by 20,000 to a seasonally adjusted 192,000 for the week ending March 11. This is a more significant drop than what economists had predicted, as they had forecasted 205,000 claims for the same period.

  • The National Institute of Statistics and Census of Argentina has recently released the latest figures for the consumer price index (CPI) for February. The report shows a significant increase of 6.6%, which is mainly due to the rising prices of food and beverages. This figure is one of the highest in the history of Argentina, and it has caused concern among local analysts as it represents a YoY growth of over 100%.

COINGABBAR Views: Bitcoin and other digital tokens experienced a surge in the early trading hours in Asia on Friday. Traders are closely monitoring the banking crisis that is currently affecting the global market, as well as the upcoming FOMC meeting where the US Fed will discuss its rate-hike path. The question on everyone's mind is whether the crypto market will continue its upward trend in anticipation of these events. Stay informed and stay ahead of the game. For more information Stay tuned with us at

Also read: Galaxy Digital CEO Advises to Invest in Gold, Silver, and Bitcoin Amid Economic Uncertainty

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.

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