New Delhi: On Monday, March 20, the cryptocurrency markets experienced volatile trading. While Ethereum, Polygon, and Shiba Inu were trading with losses, Bitcoin, Solana, and BNB saw gains.
"The collapse of US banks like SVB and Signature has reignited the conversation about the significance of DeFi and digital assets, and BTC momentarily crossed the USD 28,000 mark on Monday. Bitcoin is poised to touch USD 30,000 very soon but may find some resistance at that level. This week's FOMC meeting will have a significant market-moving impact "CEO of BuyUcoin, Shivam Thakral, remarked.
According to Edul Patel, co-founder and CEO of Mudrex, "Bitcoin has hit levels unseen in around nine months due to uncertainty in the banking system, inflation figures that exceeded expectations, and renewed hope about a dovish Federal Reserve."
Ethereum (ETH) was trading above the USD 1,750 mark while Bitcoin (BTC) increased 1.10 percent to USD 27,519 in value. The market capitalization of all cryptocurrencies was around USD 1.16 trillion at the time, up 0.13 percent over the previous day.
DeFi has a total volume of 6.67 billion, or 9.30 percent, of the 24-hour volume of the entire crypto market. The overall volume of stablecoins was USD 61.89 billion, or 86.26 percent of the 24-hour volume of the entire crypto market.
Bitcoin volume increased 29.55 percent over the last 24 hours to around USD 41.76 billion. Around USD 531.77 billion was the market capitalization of Bitcoin. According to CoinMarketCap, its market share has increased by 0.48 percent since yesterday to 45.90 percent.
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