Following a shakeup in the U.S. banking system over the past week, crypto exchanges and wallets gained momentum as app downloads increase
Highlights
- Following a shakeup in the U.S.
- banking system over the past week, crypto exchanges and wallets gained momentum as app downloads increase.
- The top 10 crypto app downloads have risen about 15% since Silicon Valley Bank’s stock fell 60% last week.
- Traditional banks and top 10 “digital first” bank apps have fallen during the same time frame, about 5% and 3% respectively.
- The market madness has seemingly created a bullish sentiment in the crypto economy; as traders responded positively to the news, the overall market cap rose on the week.
- The global market cap for all cryptocurrencies also increased 8.3% to about $1.1 trillion.
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