The cryptocurrency market digest. Overview for 20.03.2023

The weekly increase in the leading cryptocurrency is impressive – more than 25%.

The demand for risky assets grew after it became clear that the banking crisis in the US and Europe will be held back. Simultaneously, investors are interested in cryptocurrencies, while there are not many footholds in the US stock market.

The market has secured above important resistance at 25,250 USD. Practically, at the moment nothing prevents the BTC from growing to 35,000 USD. A more ambitious goal is 40,000 USD.

The capitalisation of the crypto sector is 1.181 trillion USD. The figure is growing, which is taken as a certainly positive signal. The share of the BTC keeps increasing and now amounts to 46.3%, while the ETH share is declining to 18.6%.

The FTX exchange might be restarted

Jefferies investment company is negotiating with potential FTX buyers over a potential restart of the exchange. The user base of the FTX looks like a very valuable asset, and the demand for it is high. In the market, they say that the start of the FTX in theory can liven up the whole sector.

Justin Sun missed the time to buy Credit Suisse

The TRON founder Justin Sun voiced a suggestion to buy the Credit Suisse bank for 1.5 billion USD. However, he missed the chance: UBS agreed to buy the troublesome bank for more than 2 billion USD. Its market capitalisation on Friday held above 7 billion USD.

Transaction volume in the Cardano network sky-rocketed

According to IntoTheBlock, the total volume of all transactions inside the Cardano ecosystem last week amounted to 30 billion USD. Last time the figures were so high in spring 2022.