March 3 Crypto Review: Silvergate, Price Cuts and Ethereum Delay Update

March 3 Crypto Review: Silvergate, Price Cuts and Ethereum Delay Update

As usual, Axel discusses the latest developments in the cryptocurrency market in this video. It does this using reporting and technical analysis. This way you stay informed of the latest major events in the crypto world within minutes. Let’s see the latest news.

In the video above, Axel informs you about the latest news and developments in the cryptocurrency market in just a few minutes. This time he addresses Silvergate Bank’s main problems, inflation in the Eurozone and the resulting price declines. He also talks about the delay of the Shanghai Ethereum upgrade by 2 weeks.

Will Silvergate still exist? And what does this mean for Bitcoin?

The price of Bitcoin has dropped dramatically in the past 24 hours. Most of these losses were achieved within 1 hour. The drop seems to coincide with rumors of the possible collapse of Silvergate, a major crypto bank.

Silvergate ran into trouble earlier this week after the publication of its annual results. The bank has yet to file a financial report of its full-year results with the U.S. Securities and Exchange Commission, but said the company was unable to meet certain conditions. As a result, not only did the bank’s share price fall, but the price of Bitcoin also fell.

In addition, Ethereum developers have announced that the highly anticipated Shanghai upgrade to the network will be delayed for two weeks. The update was supposed to take place at the end of March, but now takes place in April.

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Source: Btc Direct

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