Weekly Web3, Crypto & NFT Market Update – 6 March 23

Curated By Ralph

Ralph Chua is a publisher. He is passionate about NFTs and blockchain technology. This website is curated with content from his favorite source of information. He created this website with the intention to stay up to date with the ever-evolving and groundbreaking NFT industry.

Really cool show lots to talk about so Let's have a look at the market a market Update if we have a look over here it's Been a brutal 24 hours on the crypto Markets we've got ethereum sitting at 1 567. we got Bitcoin at 22 300. Solana 21 Uh both Bitcoin and ether down about Five percent on the day Um we've got blur sitting at 72 cents Um we've got uh what's an ape sitting at 4.80 so really really been a black bath And all of it happened if you look at This red candle over about 45 minutes If all of it happened in 45 minutes this Five percent drawdown on bitcoin and Ethereum so we've got to say to yourself All right what is going on here Obviously the crypto is crashing there's Got to be a reason nothing happens in Isolation so you know on the one side of The the big thing that we saw with this Major liquidation events in the last 24 Hours 245 million dollars worth of Derivatives was liquidated from the Market mostly caused by silvergate and They were supposed to release their Annual um returns uh by the 16th of March they've said that they they're not Going to and that led to Um Panic amongst investors they also Said that they are less than Um able to cover their debts whatever That they mean Um or less liquid than they would want

To be as a result we've seen Um you know a lot of the exchanges no Longer support them and we saw all Crypto across the board really full fall Down right Um and you know so the gate was one of The leading Banks of crypto is one of The lead Banks their Market Capital was Over 3 billion so their their failure to Follow annual reports is a big thing Um and obviously we've seen the results Of that but on top of that we've got the Mount gox Bitcoin that is um being Released now so Mount Cox went under Um Bitcoin at 100 or 200 thought they had Lost everything turns out now that They're going to be getting a lot of Their their Bitcoin back and they're Getting it back at today's value so There's going to be an absolute Fortune Of Bitcoin hitting the market over the Next couple of weeks and months and you Can imagine if you paid 100 or 200 or 300 or a thousand dollars and you Haven't had this money for 10 years and Now all of a sudden you're getting back 10 times that a lot of people are going To be Um selling and and people are noticing That that's it that's going to happen And I I think that they rise to think so There will be a lot of it hitting the Market and it is gonna so people are

Front running that as well and I just Think overall you know the macro even Though we've got Um the stock exchange looking quite Bullish today Um even yesterday it turned bullish near The end Um it up until the last two days it's Been really really bearish it's been Down Monday Tuesday Wednesday Consistently and then Thursday was down And turned and then today has turned um It has started positive and is positive But we've seen that the the markets both The crypto and I'm the stock exchange And the world markets are very Interesting Um and you know it's very volatile out There at the moment so that's that's Just a bit of an update on what's Happening on all the markets at the Moment wow there's some crazy to Hear about dude Yeah Um I mean I don't have I guess I don't Have too much to say on that on that Front I guess crypto dreams really the The guy who stole the stole the Attention he said I sold all my soul two Days ago he's really out here taking W's Heard the dreams out here taking big W's Right now he sold all his soul right Before the crash let's go It was good

Yeah we'll see what he says but I don't Know that now it's the best time I mean It's so hard to know is this the Beginning of us going down again and are We going to see 1 100 youth again and Under 20K Bitcoin and 15 soul and and Well you know it's all the way to eight Dollars is that what what we're going Towards or is this the best buying Opportunity a small dump before a major Pump I don't know look my side I've been A Perma bear long term I think we are Euro two out of really seeing a bull Market again and there's just too much Going on macro there's there's too much Going on even in crypto you know all These exchanges folding and everything That's going on Um I I think you know you might have 20 30 spikes here and there so if you know What you're doing you can definitely buy And sell and trade but long term you Know I I think there'll be still a Couple of couple of uh Euros out before We see the 50 60 70 000 Bitcoin that we Saw before but that's just my personal Opinion not Financial advice obviously Yo Phillips so uh I I don't know if you Caught it when I was talking earlier but I

Categories NFT

Leave a Comment