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Bitcoin surpassed $28,000 again after nine months due to banking sector turmoil, higher-than-expected inflation and cooling expectations of aggressive interest rate hikes by the Federal Reserve.

Bitcoin, the world's largest cryptocurrency by market capitalization, rose as high as $28,258 on Sunday, the data showed. Going into 2023, bitcoin has risen a cumulative 70%, outperforming the S&P 500. In addition to bitcoin, ethereum also surpassed $1,800 at one point.

Ilan Solot, head of digital assets at Marex, noted that bitcoin's movement is tied to liquidity conditions and real interest rates.

BitMEX founder Arthur Hayes even made a bold prediction that bitcoin could rise sharply to as much as $1 million as a major shift in global central bank policy takes place.

Total cryptocurrency market cap rose to $1.16 trillion, according to coinmarketcap data.

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At 21:00 (13:00 GMT) on Tuesday, Ether was trading around 1,742.54, up 10.09%, the largest daily gain for the cryptocurrency since November 10, 2022, according to Investing.com Index's ticker system. The rally pushed Ether's total market cap to $213.47B, representing 18.93% of the cryptocurrency's total market cap. This compares to a previous high of $569.58B. In the last 24 hours, the price of Ether has been trading between $1,655.74 and $1,742.54. Over the last 7 trading days, Ether has risen 11.28% and its total market cap has increased significantly. As of this writing, Ether's total market cap in 24 hours is 15.30B, which is 15.96% of the total market cap of all cryptocurrencies. Over the past 7 trading days, Ether has traded between $1,371.4655 and $1,742.6299, and the cryptocurrency is currently 64.18% off its all-time high of $4,864.06 on November 10, 2021. Other Cryptocurrency Quotes According to Investing.com, Bitcoin is currently trading at $26,067.8, up 17.80% in the current trading session. In addition, the ticker also shows that TEDA is currently trading at $1.0058, up 0.45%. Bitcoin currently has a total market cap of $501.95B, which represents 44.52% of the total market cap of all cryptocurrencies, while TEDA currently has a total market cap of $73.36B, which represents 6.51% of the cryptocurrency market.

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Biden promises 'no cost to taxpayers' to protect SVB, Signature depositors！

The overnight collapse of two major traditional banks - Silicon Valley Bank (SVB) and Signature Bank - triggered a series of events that affected millions of businesses, venture capitalists and bottom-line investors. However, President Joe Biden assured taxpayers that they would not suffer as the federal government acted to protect depositors.

On March 11, major stablecoins including USD Coin ( USDC ), USDD (USDD) and Dai ( DAI ) were decoupled from the U.S. dollar after Circle announced that $3.3 billion of its $40 billion in reserves was trapped in SVBs.

Knowing that many other entities associated with the failed banks may have suffered irreparable losses, Biden announced on March 12 that he was committed to holding those responsible accountable for the incident.

While the federal government's proactive approach to minimizing losses was appreciated, many noted that it was the taxpayers who would ultimately suffer from the depositor bailout. on March 13, Biden expressed concern via a tweet.

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Monday at 04:19 GMT Bitcoin traded near 22,449.8, up 10.13%, the largest daily gain for the cryptocurrency since November 10, 2022.

The rally pushed Bitcoin's total market cap to $431.3B, representing 42.35% of the cryptocurrency's total market cap. This compares to a previous high of $1,275.5B in the Bitcoin market cap.

In the last 24 hours, the price of Bitcoin has traded between $21,904.3 and $22,542.5.

Over the last 7 trading days, Bitcoin has oscillated narrowly by 0.31% and its total market cap has traded significantly lower. As of this writing, Bitcoin's total market cap in 24 hours is 33.6B, which is 45.64% of the total market cap of all cryptocurrencies .

Over the last 7 trading days, Bitcoin has traded between $19,591.8281 and $22,542.5039, and the cryptocurrency is currently 67.46% off its all-time high of $68,990.63 on November 10, 2021.

Other Cryptocurrency Quotes According to Investing.com, Ether is currently trading at $1,596.47, up 9.21% in the current trading session.

In addition, the market data also shows that TEDA is currently trading at $1.0037, down 0.39%.

Ether currently has a total market cap of $195.2B, which represents 19.17% of the total market cap of all cryptocurrencies, while TEDA currently has a total market cap of $72.9B, which represents 7.16% of the cryptocurrency market.

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Bitcoin is currently trading at $22,346.5, down 4.55% in the current trading session. Also, the market data shows that Ether is currently trading at $1,571.47, down 4.35%. Bitcoin currently has a total market cap of $432.0581B, which represents 41.95% of the total market cap of all cryptocurrencies, while Ether currently has a total market cap of $192.5454B, which represents 18.69% of the cryptocurrency market.

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At 09:37 (01:37 GMT) on Saturday, EOS was trading around 1.3080, up 13.55%, the largest daily gain for the cryptocurrency since February 17, 2023, according to Investing.com Index's ticker system. The rise pushed EOS's total market cap to $1.4206B, or 0.14% of the cryptocurrency's total market cap. This compares to a previous high of $17.5290B for the EOS market cap. During the last 24 hours, the price of EOS has been trading between $1.3059 and $1.3301. Over the last 7 trading days, EOS has risen 17.33% and its total market cap has increased significantly. As of writing, EOS has a 24-hour market cap of $489.1458M, which is 0.91% of the total market cap of all cryptocurrencies. Over the last 7 trading days, EOS has traded between $1.1020 and $1.3371, and the cryptocurrency is currently 94.31% off its all-time high of $22.98 on April 29, 2018.

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Wilson adds that the stock market does not bottom out (fall into an undervaluation range) until NTM EPS expectations have fallen to a significant low. However, Goldman Sachs believes that in past bear market periods, the stock market would fall into a six to nine month trough before NTM EPS reached a low.

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On Monday, crypto exchange Coinabase said it will stop trading the Coinbase stable coin BUSD on March 13. A Coinbase spokesperson said, "We regularly monitor the assets on our trading platform and we have determined that BUSD does not currently meet our trading standards." Previously, BUSD issuer Paxos was to be sued by the US SEC due to regulatory scrutiny, and subsequently the New York Department of Financial Services (NYDFS) asked Paxos to stop issuing new BUSD tokens. Currently, BUSD has a market cap of about $10.6 billion, close to falling through the $10 billion mark.

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The primary focus of the market remains on U.S. data that will reflect the strength of the economy or affect the Fed's rate hike path. Among the more important data include durable goods orders, consumer confidence, home sales figures, as well as the ISM Purchasing Managers' Index (PMI) released on Wednesday and FridayU.S. ISM Manufacturing PMI Tuesday's Consumer Confidence Index is one of the more important data, with the market expecting an index of 108.5, an increase from the previous month.

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Over the past week, Bitcoin's price has accumulated a 15% gain, moving it to the 11th largest global asset in terms of market capitalization. Bitcoin's market cap is currently quoted at $480.6 billion, surpassing payments giant Visa's $469 billion market cap. A few days ago, the price of bitcoin rose above $25,000 for the first time since August of last year. The data shows that Bitcoin's market cap first surpassed Visa's in December 2020, when the price of Bitcoin also broke $25,000 for the first time. Currently, Bitcoin trails Nvidia, the No. 10 global asset, with the difference in market cap between the two at about $50 billion.

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Friday at 04:17 (20:17 GMT) EOS traded near 1.1880, up 10.20%, the largest daily gain for the cryptocurrency since February 17, 2023. The rise pushed EOS's total market cap to $1.2964B, representing 0.12% of the cryptocurrency's total market cap. This compares to a previous high of $17.5290B for EOS. In the last 24 hours, the price of EOS has traded between $1.0390 and $1.2210. In the last 7 trading days, EOS has risen by 12.73% and its total market cap has increased significantly. As of this writing, EOS has a total market cap of $325.6039M in 24 hours, which is 0.42% of the total market cap of all cryptocurrencies. Over the last 7 trading days, EOS has traded between $1.0040 and $1.2210, and the cryptocurrency is currently 94.83% off its all-time high of $22.98 on April 29, 2018.

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Gold prices started the week on a shaky note on Monday (2 February) after closing down for four consecutive weeks last week. The market is concerned that the Federal Reserve will have to take, more aggressive measures to bring inflation down to 2%. Expectations of a sharp rate hike by the Fed are heating up putting gold prices under short-term pressure, but analysts remain bullish on the long-term outlook for gold prices. This week the market will also see the impact of important US economic data, including the US GDP revision, and the core PCE price index and other important data. Specific data to watch. Tuesday: US home sales, manufacturing PMI. Wednesday: FOMC February meeting minutes, FOMC member Williams speech. Thursday: US Q4 GDP, US initial jobless claims. Friday: US PCE price index, US new home sales.

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Uniswap NFT aggregation service surpasses $5 million in total transaction volume, with monthly growth of over 400% According to Dune Analytics, Uniswap NFT aggregation services have surpassed US$5 million in total transaction volume, reaching US$5,137,547 with 7,711 transactions to date. The current top platform for Uniswap NFT aggregation is OpenSea, with the top three NFT series in terms of transaction value being Mutant Ape Yacht Club ($477,510), Bored Ape Kennel Club ( ($387,752) and CLONE X - X TAKASHI MURAKAMI ($252,562). Uniswap NFT reached $1 million in early December and Uniswap has grown by over 400% in the last month or so.

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For the first time in a year, bitcoin rallies for 11 days

Market expectations of topping inflation and an imminent slowdown in interest rate hikes by the Federal Reserve have taken the cryptocurrency out of the gloom for a while. As of January 14, Bitcoin has risen for 11 consecutive days, soaring over $21,000 and accumulating gains of over 23% in January, a new high since November and the longest streak of days in 2020. The second largest cryptocurrency, ethereum, rose by 9.7%, accumulating a cumulative gain of over 26% this month, and according to CoinGecko, the total market capitalisation of cryptocurrencies exceeded $1 trillion for the first time since early November

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Bitcoin breaks 19,000 USDT today, highest level since FTX crash The OEI OKX ticker shows that Bitcoin broke through 19,000 USDT at 4:00am today, rising to 19,112.6 USDT and now at 18,822.1, up 4.05% in 24 hours, the highest level since the FTX collapse in early November last year. In addition, Ether broke through 1400 USDT and rose to 1438.98 USDT and is now at 1408.19, a 24-hour gain of 1.62%.

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Class action lawsuit filed against Silvergate Capital for alleged securities law violations

A class action lawsuit has been filed in the United States District Court for the Southern District of California against Silvergate Capital, operator of the Silvergate Exchange Network and parent company of Silvergate Bank, on behalf of all purchasers of Silvergate securities between November 9, 2021 and January 5, 2023. Silvergate CEO Alan Lane and CFO Antonio Martino are also named as defendants in the lawsuit, in which the plaintiffs allege that Silvergate's platform failed to detect "money laundering in amounts exceeding The plaintiffs claim in the lawsuit that Silvergate's platform failed to detect money laundering "in excess of $425 million" and could face regulatory repercussions, and that "the defendants knew that public documents and statements issued or disseminated on behalf of the company were materially false or misleading".

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Venture capital firm 1confirmation founder publishes year-end LP letter, still holds significant shares and tokens in Ether, OpenSea and other projects Odaily Planet, Nick Tomaino, founding partner of venture capital firm 1confirmation, has published his year-end LP letter on social media, which states that 1confirmation Fund I, Fund II, which distributed $119 million in cash to partners, still holds a significant amount of shares and tokens in projects such as Ether, OpenSea, Cosmos, dYdX, SuperRare and other projects with significant shares and tokens. In addition, Fund I now has a net distribution of 4.47 times paid-in capital (DPI) and an internal rate of return (IRR) of 144.28%; Fund II now has a net distribution of 1.2 times paid-in capital (DPI) and an IRR of 173%. fund III and NFT Fund have made 15 new investments and NFT Fund has deployed 25% of its capital.