Weekly overview of the crypto market

This week, the crypto market showed a moderate upward trend. Bitcoin price increased by 3.23%, while Ethereum rose by 5.17%. The total market capitalization slightly decreased to $2.77 trillion, down by 1.46%. Market sentiment remains in the fear zone, with the fear and greed index holding at 27.

In terms of fund flows, crypto ETFs continued to see net outflows. Bitcoin ETFs had net outflows of about $135 million this week, and Ethereum ETFs had net outflows of $73.6 million. Bitcoin ETFs have shown net outflows for five consecutive weeks, with weekly outflows of $830 million this week. Ethereum ETFs have also seen four consecutive weeks of net outflows. It is worth noting that the exchange rate of Ethereum against Bitcoin fell to 0.023, hitting a new low in nearly four years.

Nevertheless, the AHR999 index remains around 0.8, indicating that the Bitcoin price is still in the buying range for long-term investors. This indicator provides a certain level of confidence support for investors.

In terms of popular cryptocurrencies, CAKE, MUBARAK, BMT, X, and XRP have performed impressively. Among them, MUBARAK's weekly increase reached 64.02%, with a peak price of 0.2158 dollars. BMT's increase is even more astonishing, reaching 77.15%. CAKE has risen by 49%, with a current market capitalization of approximately 700 million dollars.

In the U.S. financial markets, the stock market is showing weakness, with the three major indices slightly declining. The Federal Reserve is keeping interest rates unchanged in the range of 4.25% to 4.50%. However, some politicians are publicly calling for a rate cut, believing that the impact of tariff policies is gradually penetrating the economy, which may indirectly affect the crypto market.

Notably, the U.S. Securities and Exchange Commission's (SEC) Cryptocurrency Working Group will hold its first roundtable on March 21 to advance crypto regulatory discussions. In addition, a major derivatives exchange plans to launch a Solana futures contract on March 17, but is still subject to regulatory approvals.

In terms of project dynamics, the Ethereum Layer 2 project Starknet will launch its mainnet from March 17 to 24, attracting market attention. The projects Fasttoken and Melania Meme will unlock 20 million and 26.25 million tokens respectively on March 18, with unlocking ratios of 4.65% and 17.50%, which are expected to have a certain impact on the market.

In terms of sector performance, cross-chain communication projects saw a significant market cap increase of 89.7% this week, with STAKELAYER, GASP, and ZRO performing exceptionally well. The Consensys Portfolio sector's market cap rose by 60.7%, demonstrating strong resilience against downturns, with projects like VPP, TOKE, AXS, and SKL rising against the trend.

! Crypto Market Weekly Report