Crypto can really benefit from the U.S banking crisis
We have seen a ton of controversy and crisis lying within the banking system in the worldwide banking system. Crypto can benefit from this US banking crisis and it could strengthen the crypto ecosystem for the long term. If will look at the cryptocurrency market, you will discover that many coins are pumping seriously. A lot of cryptos are starting to take form into the green and if you look at the top 100 cryptos, it was just a sea of red as we begin the day and it is kind of mixed where are seeing a lot of cryptos keeps going up. This is the kind of thing we can expect in the market with a lot of FUD in the market.
We saw the market fall off after Silicon Valley Bank and it is because of the traders of USDC due to their liability with over 3.3 billion dollars in Silicon Valley led to the de-pegging to $0.87 causing a drastic cause of concern and fear to be injected into the crypto landscape. We saw the crypto-friendly bank Signature was shut down over the weekend and that was coming after the week that Silvergate. There has been a lot of turmoil surrounding banking as well as these are the banks that are tied with crypto.
If you look where crypto is at Bitcoin is holding steady. A hot jo report could be very crucial to seeing why the FED is tightening. If you do get that soften, it will be something that will be very exciting to play out because it will be overshadowed by this banking crisis. A lot of companies are looking at buying Silicon Valley Bank, and Elon Musk has talked about it. However, it does seem like it is going to be a little bit difficult to do so due to the debt and the ongoing crisis at hand. Speaking about what is doing on, it tempts to restrict liquidity and that is what is going on with the government trying to strangle many of the weaker unregulated players in the crypto banking structure. These clampdowns leaving the strong to survive may result in a more favorable and robust crypto economy and this over-crypto landscape could be shaped by having the best survive.