Cryptocurrency market has been continuing its downward trend in recent days.
The source of the latest wave of declines came after Silvergate Capital, a crypto-friendly bank based in the US state of California, expressed doubts to the US Securities and Exchange Commission about the bank’s ability to continue operating.
Silvergate Capital has reportedly lent most of its funds to crypto exchanges and was hit hard by the crash of $32 billion exchange FTX in November last year. The bank’s announcement immediately cast doubt on the crypto industry as several crypto firms suspended doing business with the bank, causing share prices to drop by 58%.
The crisis caused a significant drop in Bitcoin (BTC) and Ethereum (ETH) prices overnight, fueling an overall highly volatile market. On the lighter side of things, Dogetti (DETI) is steadily gaining numbers in its pre-sales.
Bitcoin: Slivegate Crash Eliminates Bull Traders
Bitcoin (BTC), the world’s largest cryptocurrency, has been in a bearish trend since early February as fears of the Silvergate fallout have rippled the market.
When the hawkish attitude of the FED is added, BTC, which was traded at $25,000, declined below $22,000.
Bitcoin continues its sideways trend with a weekly drop of 6.41%. Every attempt to bounce and rally is used by market participants to sell Bitcoin at a better price, so there is constant bearish pressure.
Ethereum: Bulls Expected in March?
Ethereum (ETH), the second strongest cryptocurrency in the world, has been trading in a flat range between $1600 and $1700 since mid-February, but has fallen by 4.47% overnight to its current price of $1,555. It continues its downward movement in 7 days.
However, despite the bearish outlook, traders remain optimistic about Ethereum’s move in March, with a 25% correction before the next bull cycle starts.
At the time of this writing, Ethereum has a market cap of $191 billion and a 24-hour trading volume of $9.7 billion.
Dogetti: Focused on Pre-Sales
Dogetti (DETI) is steadily increasing the numbers in its pre-sale, with only a few minutes to go to phase 2. And it is controlled by the community or the ‘Dogetti Family’.
Currently in phase 1 of its presale, Dogetti has raised $376,539 in presale tokens and will launch phase 2 when it reaches $500,000. DETI holders can use the bonus code “WISEGUY25” to get an additional 25% DETI token once the meme token goes live on the market.
A tier 1 DETI token is worth $0.00007 and when the currency goes live on the market it will increase 300% to $0.00029 in stage 2 and increase by 900% to $0.0007 in stage 5.
Dogetti’s ecosystem may also have DogettiNFTs, which DETI users can adopt as their Dogetti offspring and use as a digital companion to own, sell and trade in exchange for fiat or crypto.
DogettiSwap can trade any ERC-20 token with a 6% transaction fee; 2% will be redistributed among all Dogetti token holders, 2% will be added to a community-owned charity wallet, and 2% will be split between liquidity and burn wallets. DogettiDAO can enable the DETI family to set the direction of the project and win awards for their participation.
Learn more about Dogetti (DETI):
Pre-sale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_
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