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Crypto wrap: Market remained in green despite rate hikes by Fed, BoE

Another major development in the crypto world during the week was the US Securities and Exchange Commission's 'Wells notice' to crypto exchange Coinbase


Photo: Reuters

Raghav Aggarwal New Delhi
The crypto market remained in the green last week despite rate hikes by the US Federal Reserve (Fed) and the Bank of England. Both the central banks hiked their benchmark interest rates by 25 basis points (bps) to contain inflation. Despite that, the crypto market cap was up from $1.14 trillion on March 17 to $1.17 on Friday.

Bitcoin was up 5 per cent and was trading at $28,051, according to CoinMarketCap. Ethereum was up 2.7 per cent and was at $1,788 on Friday.

"Throughout this week, Bitcoin has remained mostly above the $28,000 level. It initially started by trading

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First Published: Mar 24 2023 | 4:33 PM IST

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