Hello Hiveans,
as the Bitcoin markets value fall at nearly 12% last week. Which was caused by the liquidation of silvergate, which is said to be a crypto- friendly bank, moving $1 billion in Bitcoin to controlled wallet (coinbase)
According to forbes, a lawsuit filed against kucoin, becuase of the drop of Ethereum which drops 8% as well. Other altcoins dropped simultaneously as follows
Cardano..................9%
Polygon(Matic)........11%
Memecoin.................10%
Dogecoin......................14%
On the other hand, Silver gate annoced about writing off and bringing its business down. Silver gate lost more, like customers pulling more than $8 billion out. Major crypto facilities like coinbase, Galaxy digital, paxos and circle planned to distance themselves from the bank.
More alike, BTC and Ethereum are also down to 10%, but both BTC and Ethereum are up to more than 20% from the past few years till date.