Crypto market weekly review

This week, the crypto market has shown a moderate upward trend. Bitcoin price increased by 3.23%, Ethereum rose by 5.17%, while the tokens of certain trading platforms performed even better, with an increase of 7.7%. Nevertheless, the total market capitalization of the crypto market still declined by 1.46% to $2.77 trillion, and the market sentiment indicator remained in the fear range at 27.

It is worth noting that Bitcoin ETFs saw a net outflow of about $135 million this week, while Ethereum ETFs also experienced a net outflow of $73.6 million. Bitcoin ETFs have shown a net outflow for five consecutive weeks, with a single-week outflow amounting to $830 million this week. Ethereum ETFs are similarly facing a dilemma of net outflows for four consecutive weeks. Particularly noteworthy is that the exchange rate of Ethereum to Bitcoin has fallen to 0.023, hitting a nearly four-year low. However, a certain market index remains around 0.8, indicating that the price of Bitcoin is still within the ideal buying range for long-term investors.

This week, the outstanding cryptocurrencies include CAKE, MUBARAK, BMT, X, and XRP. Among them, MUBARAK saw a weekly increase of 64.02%, reaching a high price of 0.2158 dollars. BMT had an even more astonishing increase of 77.15%. CAKE rose by 49%, with a current market value of approximately 700 million dollars.

The US financial markets performed weakly this week, with major stock indices slightly declining. The Federal Reserve maintained the interest rate range at 4.25% to 4.50%. However, a certain political figure publicly called for a rate cut, believing that the impact of US tariff policies is gradually permeating various levels of the economy, which could have an indirect effect on the crypto market.

Important events of interest to the market include: the Federal Reserve's FOMC will announce its interest rate decision and economic outlook summary at 2 AM on March 20; a large financial institution plans to launch Solana (SOL) futures contracts on March 17, but still awaits final approval from regulatory authorities; the cryptocurrency working group of the U.S. Securities and Exchange Commission will hold its first roundtable meeting on March 21 to advance discussions on cryptocurrency regulation.

In terms of project dynamics, the Ethereum Layer 2 project Starknet is expected to officially launch its mainnet between March 17 and 24, attracting widespread attention from the market. Additionally, Fasttoken (FTN) and Melania Meme (MELANIA) will unlock 20 million and 26.25 million tokens respectively on March 18, with an unlocking ratio of 4.65% and 17.50%, which is expected to have a certain impact on the market.

Cross-chain communication related projects performed outstandingly this week, with a market cap increase of 89.7%. Among them, STAKELAYER, GASP, and ZRO stood out particularly. Consensys ecosystem projects also demonstrated strong resilience against downturns, with a market cap rise of 60.7%. Projects like VPP, TOKE, AXS, and SKL surged against the market trend.

Overall, despite facing pressure from capital outflows, the crypto market still demonstrates a certain level of resilience. Investors should closely monitor upcoming important events and project developments while cautiously assessing market risks.