BTC moves past $30K level. Swiss financial institution PostFinance to offer crypto access. Chinese insurer CPIC launches crypto funds in Hong Kong.
Weekly Market Index
Last week’s crypto market prices were flat at +0.10%. Volume and volatility dropped by -12.65% and -61.64%, respectively.
Weekly Performance
Bitcoin (BTC) and Ethereum (ETH) were up +7.6% and +5.9% in the past seven days, respectively. Price performances of other selected top-cap tokens were mixed.
News Highlights
- Bitcoin moved past the US$30,000 level for the first time since June 2022 as the market looks past March’s banking turbulence and investors become more optimistic about US central bank monetary policy.
- China Pacific Insurance Company, a leading Chinese insurer, launches two crypto investment funds in Hong Kong through its subsidiary in collaboration with Waterdrip Capital. The funds are a venture capital fund and a Proof-of-Stake token income enhancement fund.
- PostFinance, Switzerland’s fifth-largest financial services firm, will start offering its users access to cryptocurrency, through a partnership with digital asset services provider Sygnum Bank.
- The Bank of England is reportedly targeting to set up a team of 30 people to develop a central bank digital currency.
Read next: Today's FOMC minutes may help us to judge how seriously was the pause discussed| FXMAG.COM
Recent Research Reports
| | |
| Monthly Research Roundup (March 2023): In this issue, we feature trending market insights, our latest Crypto.com Visa Card Consumer Spending Insights for 2022, and our research reports on liquid staking derivatives. | Liquid Staking Derivatives: Money Legos in DeFi: Liquid staking is now the second largest sector in crypto after DEXes, replacing DeFi lending. Today the liquid staking narrative remains strong in anticipation of Ethereum’s Shanghai upgrade, and this report explores its current landscape. | Alpha Navigator: Quest for Alpha [March 2023]: Bitcoin shines amid banking sector turmoil. Market expects a pause in rate hikes, potentially setting up new tailwind for risk assets. |
Catalyst Calendar
Disclaimer:
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
Author
Research and Insights Team
Get fresh market updates delivered straight to your inbox:
Be the first to hear about new insights:
