By EWN • 15 March 2023 • 10:30
Cryptocurrency prices have surged significantly over the past 48 hours after the US government decided to back the banking sector by providing a safety net for Silicon Valley Bank depositors. The prices of Bitcoin (BTC) and Ethereum (ETH), the two most powerful cryptocurrencies in the market with a collective domination of roughly 63%, jumped as traders were reassured by US authorities that deposits at the failed Silicon Valley and Signature banks would be protected.
The global cryptocurrency market capitalisation rose by 5.13% overnight to $1.08 trillion from a 3-month low of $912 billion registered last week after US-based crypto-friendly banks Silvergate Capital, Silicon Valley Bank, and Signature Bank announced closures after failing to recover from the crash of $32 billion FTX last year.
The surge perhaps may work in favour of new cryptos like Dogetti (DETI), who have been impressing investors who are looking to diversify their digital assets portfolio.
Bitcoin’s (BTC) price has recovered from the losses it experienced during the course of last week after its price fell to a new 30-day low of $19,628.25, prompted by uncertainty after the closures of Silvergate Capital and Silicon Valley Bank. However, assurances that the Federal Reserve would make affected investors whole instilled confidence causing Bitcoin to rally by 22% over the past 48 hours and trade above the $24,000 mark.
At the time of writing, Bitcoin had risen by 8.21% overnight to trade at $24,402.43 while indicating a weekly growth of 8.66%. Crypto experts suggest that if Bitcoin manages to convert this resistance barrier into a support floor, it will trigger a rally to $28,000 and the next psychological level at $30,000.
Ethereum (ETH), similar to its crypto table-topping counterpart Bitcoin, rallied to overcome its crumble last week which saw its price fall to $1,378.53, its lowest since early January. However, reignited investor confidence over the weekend ensured a rally for ETH to trade at $1,675.91, a 4.29% rise from the last 24 hours while reversing its weekly movement to a 6.70% growth.
Experts indicate that a clear move above the $1,740 level could send Ethereum’s price toward $1,850, with further gains even pointing at an upward movement toward the $1,950 resistance zone or $2,000 in the near term.
Dogetti (DETI) is one of the latest ERC-20 meme tokens powered by the Ethereum blockchain attempting to make headway into the meme coin space. Currently, in the presale stage, Dogetti plans to generate long-term growth and development for its community, the “Dogetti family”, instead of short-term gains as it bids to become the next big meme token in the industry.
The project has had its smart contract audited by SolidProod, Soken, Coinsult, and Solidarity Finance and has been validated as 100% secure.
Having launched its Initial Coin Offer (ICO) in early February, the project has now entered stage 2 and has so far raised $556,510 in presale tokens and will advance to stage 3 after it raises its target of $4 million worth of DETI tokens. A DETI token was priced at $0.00007 during stage 1 and jumped by 300% to $0.00029 in stage 2 and will surge by 900% from its stage 1 price to $0.0007 in stage 5 when the currency launches live.
Users can now earn a 50% bonus on all DETI purchases by using the presale bonus code DON50. The returns will be made after stage 5 when the token goes live. The bonus code is a very limited presale offer and could end at any given time, so time is of the essence for anyone who wishes to make heavy returns.
WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost
AVISO IMPORTANTE: La inversión en criptoactivos no está regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido
Share this story
Subscribe to our Euro Weekly News alerts to get the latest stories into your inbox!
By signing up, you will create a Euro Weekly News account if you donâ€™t already have one. Review our
Download our media pack in either English or Spanish.