Crypto Market Weekly Overview

This week, the crypto market showed a slight upward trend. Bitcoin's price increased by 3.23%, while Ethereum rose by 5.17%. A certain exchange platform's token performed remarkably well, with an increase of 7.7%. However, the overall market capitalization slightly decreased, falling to $2.77 trillion, down 1.46%. Market sentiment remains in the fear zone, with the fear and greed index holding at 27.

It is worth noting that both Bitcoin ETFs and Ethereum ETFs have experienced net outflows this week. The net outflow for Bitcoin ETFs was approximately $135 million, while for Ethereum ETFs it was $73.6 million. This trend has persisted for several weeks, with Bitcoin ETFs seeing net outflows for five consecutive weeks, reaching a single-week outflow of as much as $830 million this week. Similarly, Ethereum ETFs have also shown net outflows for four consecutive weeks.

The market is paying high attention to the Ethereum/Bitcoin exchange rate, which has fallen to 0.023, setting a new low in nearly four years. Nevertheless, the AHR999 index remains around 0.8, indicating that the Bitcoin price is still within the buying range for long-term investors.

Outstanding cryptocurrencies

This week, some cryptocurrencies have performed remarkably. CAKE increased by 49%, with a market cap of $700 million. MUBARAK rose by 64.02%, reaching a peak price of $0.2158. BMT surged by as much as 77.15%. In addition, X and XRP also showed impressive performance.

Overview of the US Market and Important Events

The US stock market performed weakly this week, with all three major indices slightly declining. The Federal Reserve maintained interest rates unchanged in the range of 4.25% to 4.50%. However, a certain political figure has publicly called for a rate cut, believing that the impact of tariffs is gradually penetrating all levels of the economy, which may have an indirect effect on the crypto market.

It is worth noting that the Federal Reserve will announce its interest rate decision and economic projections on the morning of March 20. A large exchange plans to launch Solana futures on March 17, but it still needs to wait for regulatory approval. In addition, the U.S. Securities and Exchange Commission's cryptocurrency working group will hold its first roundtable meeting on March 21 to advance discussions on cryptocurrency regulation.

Popular Project Updates

The Ethereum Layer 2 project Starknet is expected to launch its mainnet between March 17 and March 24, attracting widespread attention from the market. Fasttoken and Melania Meme will unlock 20 million and 26.25 million tokens respectively on March 18, with unlocking rates of 4.65% and 17.50%, which is expected to have a certain impact on the market.

The cross-chain communication projects performed outstandingly this week, with a significant market cap increase of 89.7%. Among them, STAKELAYER, GASP, and ZRO stood out particularly. The Consensys Portfolio also demonstrated strong resilience against market downturns, with a market cap increase of 60.7%. Projects like VPP, TOKE, AXS, and SKL saw gains against the market trend.