Bitcoin, Ethereum, and XRP prices surge, while RBA considers pause amid US Fed hike. Credit Suisse's banking contagion spreads and Hong Kong builds a crypto hub. Is Bitcoin a hedge against the Fed's monetary policy?
BTC surges amid banking fears, USDC temporarily loses its peg, US inflation at 6%, Ethereum's 1-year gain at 42.37%, Australian bank launches stablecoin, Ripples modernisation of cross border payments using XRP, and major banks still supporting crypto firms.
BTC Markets’ mobile app now has dark mode, and the RBA announces more rate increases. The US Fed warns of aggressive rate raises, and digital assets closed the week down. Uniswap is working on a mobile wallet app. Ripple is ahead in the SEC battle, and BTC Markets submitted to 'Treasury's Token Mapping Consultation Paper.'
Bitcoin ordinals break into the mainstream. Ethereum gas fees on the rise as the NFT market rebounds. XRP proposes a cross-chain bridge, and asset tokenisation trending with funding rounds led by PayPal, Morgan Creek, and a16z. Major macroeconomic reports due next week, including the RBA's interest rate decision. Australia's economic growth slowed in the final quarter of 2022.
The Sandbox experienced a surge in price due to the growing popularity of its AI narrative. Meanwhile, BTC tested a key tech level, while the upcoming Shanghai upgrade of ETH has many investors excited. Overall, the question remains: will digital assets experience a soft landing or a hard bounce soon?
Digital asset majors stall higher before pressing to new highs for 2023. BTC Markets unveils the latest mobile app release: Portfolio enhancements, including tracking your portfolio over time! Correlation between Fed policy and financial markets reminds markets, “don't fight the Fed."