Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13.
Total crypto market cap in USD, 1-day. Source: TradingView
Concerns about the stability of the U.S. banking industry, specifically the downfall and subsequent closure of Silvergate Bank (SI) on March 8 and the shut down of Silicon Valley Bank (SVB) on March 10 by The California Department of Financial Protection and Innovation, are among the reasons for breaking below the $1 trillion capitalization support. Silvergate was a critical fiat gateway network for the most important cryptocurrency
Trending: SHE WILL LEAVE YOU SPEECHLESS! Michigan’s New GOP Chair Kristina Karamo Gives Brilliant History Lesson to Leftist Media Activists on Gun Control in EPIC Press Conference [VIDEO]
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!