Crypto Anticipates Largest Week Ever as Bitcoin, Ethereum, BNB, XRP, Cardano, Dogecoin, Polygon, and Solana Witness Unpredictable Price Fluctuations.
Cryptocurrency prices, including Bitcoin, have plunged after a regulatory “war” on crypto intensified. Bitcoin’s price had soared by 50% since the start of the year and the crash has wiped out $100bn from the combined market of ethereum, BNB, XRP, cardano, dogecoin, polygon and solana. Now fears are mounting that Silvergate, a crypto bank once seen as a game-changer in the sector, is on the verge of collapse, with one short-seller predicting it may implode this week. Moody’s has already downgraded the bank’s deposit rating after the company reported a $1bn loss for the fourth quarter and warned over its “its ability to continue as a going concern”. Crypto heavyweights such as Coinbase and Galaxy Digital have stopped using the bank. Silvergate and rival Signature Bank began banking crypto exchanges and other crypto companies in recent years, helping the industry expand via a “bridge” to crypto from the world of traditional finance.
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