HomeUncategorizedPrice analysis 3/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC By Cointelegraph

Price analysis 3/3: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC By Cointelegraph

March 3, 2023

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© Reuters.

(BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks’ ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency companies announced that they were reducing or canceling their partnerships with Silvergate Bank.

The uncertainty regarding the future of the bank and its overall impact on the cryptocurrency sector may have caused a knee-jerk reaction. However, if the contagion does not spread, the downside may be limited.

Daily cryptocurrency market performance. Source: Coin360
BTC/USDT daily chart. Source: TradingView
ETH/USDT daily chart. Source: TradingView
BNB/USDT daily chart. Source: TradingView
XRP/USDT daily chart. Source: TradingView
ADA/USDT daily chart. Source: TradingView
DOGE/USDT daily chart. Source: TradingView
MATIC/USDT daily chart. Source: TradingView
SOL/USDT daily chart. Source: TradingView
DOT/USDT daily chart. Source: TradingView
LTC/USDT daily chart. Source: TradingView