The collapse of Silicon Valley Bank (SVB) on the 10th of March was a shock to the market. Yet, crypto has proven resilient. Despite initial losses, the market has fully recovered – and some. Projects like 1inch (1INCH) and Dogecoin (DOGE) have regained their previous prices. The market turmoil has also brought TMS Network (TMSN) to attention. Having completed phase one of presale with over $2 million raised, investors have their eye on this new DEX.
The collapse of Silicon Valley Bank (SVB)
SVB, one of the crucial banks servicing crypto, collapsed earlier in March. Circle, the company behind the USDC stablecoin, announced they had $3.3 billion in reserves locked in SVB. This caused panic, and USDC depegged – reaching as low as $0.84 on some markets. The panic throughout the entire crypto market was considerable. BTC briefly dipped below $20k.
Yet, the panic was short-lived. The US government stepped in, stating that SVB depositors would be made whole. As a result, the market swiftly recovered its losses, and BTC rallied beyond the local $25k high. Investors are scrambling to catch a ticket on the ride-up, and many are looking to the altcoin market.
As a highly volatile meme coin, Dogecoin (DOGE) is one asset that less risk-averse investors have flocked to. Despite offering minimal utility, Dogecoin (DOGE) has a huge following. This following includes entrepreneur Elon Musk, whose mere tweets can change the direction of Dogecoin’s (DOGE) price.
Yet, Dogecoin (DOGE) is arguably more of a cultural phenomenon than a sound investment. Outsized gains litter the Dogecoin (DOGE) chart, but investing in Dogecoin (DOGE) often feels like a game of musical chairs. No one knows when the music will stop or even when it’s about to begin.
Still, Dogecoin (DOGE) is unlikely to underperform a wider altcoin rally. Equally, it is unlikely to outperform due to a lack of utility.
1inch (1INCH) is the most popular Ethereum DEX aggregator. Used by MetaMask and many other projects, 1inch (1INCH) matches users with the best available swap prices across hundreds of Ethereum DEXs. As a key Ethereum infrastructure, 1inch (1INCH) has attracted many investors in the recent rally.
Registering a modest 44% gain in 2023, 1inch (1INCH) has yet to recover its local high. But with the market offering bullish momentum, many believe this will happen sooner rather than later.
Built on Ethereum, TMS Network (TMSN) is a revolutionary new decentralized exchange. After a successful phase one of the presale, raising $2 million, adverse market conditions have had minimal effect on the launch of TMS Network (TMSN).
Catering to traders from all backgrounds, TMS Network (TMSN) offers an extensive variety of tradeable asset classes. CFDs, stocks, crypto, and FOREX – there is something for everyone on the TMS Network (TMSN) platform. Additionally, traders using the TMS Network (TMSN) platform are incentivised to hold the TMS token to access exclusive trading tools.
From customizable trading bots to social trading, on-chain data, and an in-house research station, TMS Network (TMSN) is built by traders, for traders. With a keen focus on security and decentralization, traders using the TMS Network (TMSN) platform always remain in full control of their assets.
Click here for more information about TMS Network (TMSN).
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