The value of both Bitcoin and Ethereum saw a slight increase on Sunday, with Bitcoin surpassing $20,000 and Ethereum reaching $1,400. This modest increase in the crypto market’s value may be due to the decline of the US dollar, which occurred after slower wage growth was reported in labor statistics from February. The adoption of Ordinal, a Layer 2 solution, is also expanding the use cases of the Bitcoin network beyond just Bitcoin transactions, potentially leading to greater efficiency and profitability for BTC miners. Silicon Valley Bank (SVB), a major financial institution for venture capital firms, has reportedly been struggling with a liquidity crisis, which has sent shockwaves through the crypto market. Additionally, the Securities and Exchange Commission (SEC) has rejected VanEck’s proposal for a spot Bitcoin trust, raising concerns about market manipulation and liquidity, as well as the lack of transparency and regulation in the cryptocurrency market. As for Bitcoin’s current price, it’s currently at $21,515 with a 24-hour trading volume of $22.8 billion. The Industry Talk section has also curated a list of the top 15 altcoins to watch in 2023.
