More and more people have decided to invest in the world of digital currencies, despite the volatility that characterizes them, with the aim of having a medium and long term investment. Over the past few hours, a series of sales have boosted the business is between 5 and 7 percent among the high stakes, sounding the alarm again on these high-stakes novelty bets.

Cryptocurrencies plummet this Friday dragged down by the stock market crash they suffered silver gateone of Binance’s main partners and the first cryptocurrency bank, which lost 50% on Wall Street between Wednesday and Thursday after postponing the presentation of their results.

Macro inflation data in the European Union and expectations of rate hikes in the United States also contributed to the fall of the “crypto”. These financial fears have been reflected in recent hours by the rise in US Treasury yields, above 4% per year, a very high range and similar to that reached in 2007.

Also promoted by certain figures or governments seeking to adopt these digital currencies as legal tender, crypto-currencies have embarked on a roller coaster that has resulted in significant ups and downs that have turned many people upside down.

How Major Cryptocurrencies and Their Prices Moved This 3rd of March. He Bitcoin It is trading today at 22,409 USD, which implies a change of -5.23% in the last few hours. The second most popular cryptocurrency in the market, Ethereumshowed a movement of -5.5% in the last 24 hours, so its value stands at $1,572.

In regards to Attach us, is quoted at 1 dollar, so in the last day it had a movement of -0.01%. For its part, BNB has a value of 289.58 USD, with a change of -4.4%, while the Litecoin It is the same with 89.18 USD after a variation of -8.76%.

Finally, the Dogecoinone of the virtual currencies promoted by the Elon Muskhas a value of 8 cents after showing a change of -7.2% in the last 24 hours.

Mining is the process by which cryptocurrencies are generated (Getty)
Mining is the process by which cryptocurrencies are generated (Getty)

The cryptobank silver gate Bank registered notable declines after announcing that it would delay the presentation of its annual results, which its shares fell 64% last week.

“After December 31, 2022, there was a series of circumstances that will adversely affect the schedule and the unaudited results, including the sale of additional investment securities beyond what was planned. These additional losses will negatively affect the company’s regulatory capital ratios and could mean that it is not well capitalized,” they explain in a report submitted to the SEC, the US market regulator.

Similarly, Silvergate said they are “evaluating the impact these subsequent events have on their ability to continue as a going concern in the twelve months following the release of their financial statements.” “The company is currently reassessing its business and strategies in light of the business and regulatory challenges it faces”have added.

Furthermore, the crypto-bank explained to the regulator that it performs “additional procedures and provides documentation requested” by its “registered independent public audit firm” to carry out “certain audit procedures”.

“Until this process and the audit are complete, and the results are evaluated by company management and the accounting firm, the company cannot currently quantify such changes in its operating results. preliminary results or its financial condition for the fourth quarter and full year ended December 31, 2022,” they added.

During the first weeks of May 2022, digital currencies revealed that no matter how hard they try, they cannot escape the speculative appetite.after the so-called “crypto winter” or “cryptocrash” caused several digital currencies such as the bitcoin, ethereum and the moon from Earth situation that has left many investors with no savings.

It is called “cryptoinvierno” when prices drop unexpectedly and no improvement is seen or expected over the next six months.

This last episode was carried by several elements: inflation in the world and the proposal to ban the use and extraction of these in Russia, currently in conflict with Ukraine.

This disturbing term also refers not only to the sharp drop in cryptocurrencies, but also to the decline in trading volume and months of market stagnation, a phenomenon that is not new either, since a similar event was experienced only in 2018.

However, the taste in the mouth that the last crisis has left is different from what we experienced four years ago, since this cryptocrash affected all virtual currencies in a domino effect and not just a few, so the fear that the negative effects may linger longer is latent.

The latest crisis has led bitcoin to astonishingly 77% drop in value, until reaching the $28,000 mark; while others like Ethereum lost 30.88% of its value during this month. The domino effect has also affected Terra’s stablecoin LUNA, which dropped more than 100% falling from $118 to $0.09, a blow it still cannot recover from.

Despite the current scenario, there are still those who hope that cryptocurrencies will recover, while others with the same faith have invested in them, profiting from the recent catastrophe which has also left others without savings.

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