- The cryptocurrency market has been staging a comeback as the banking sector struggles with instability.
- Bitcoin and Ethereum have reached their highest price levels in approximately nine months, with new money flowing into the market.
- Investors have been keeping an eye on staking inflows for ETH as a decline may indicate high demand for unstaking.
The recent collapse of crypto-facing banks such as SVB, Silvergate, and Signature has caused instability across financial sectors, leaving investors uncertain about how the markets would react.
Nevertheless, the crypto sector has rallied against expectations since the beginning of March, with the total cryptocurrency market cap surging 12.85% to reach a high of $1.166 Trillion on Sunday, the 19th.
This surge in value has been attributed to various factors, including inflation data exceeding expectations, renewed optimism about a dovish Federal Reserve, and the growing importance of decentralized finance (DeFi) and digital assets.
The value of several cryptocurrencies has surged to their highest levels in approximately nine months. Bitcoin (BTC) experienced a 23.8% increase in March to reach a high of $28,480, while Ethereum…
