Crypto market dynamics this week
This week, the price of Bitcoin (BTC) rose by 3.23%, Ethereum (ETH) also saw a 5.17% increase, and BMX performed relatively well, with a price increase of 7.7%. The total market value of the cryptocurrency market decreased by 1.46% this week to $2.77 trillion, and the Fear and Greed Index remained in the fear range of 27. At the same time, the BTC ETF had a net outflow of about $135 million this week, and the ETH ETF also had a net outflow of $73.6 million.
In terms of capital flows in the crypto market, BTC ETF has experienced net outflows for five consecutive weeks, with a single weekly outflow of $830 million this week, while ETH ETF has also experienced net outflows for four consecutive weeks. In particular, the ETH/BTC exchange rate fell to 0.023, a new low in nearly four years. However, the AHR999 index remains around 0.8, indicating that the BTC price is still in the buying range for long-term investors.
This week's popular coins
In terms of popular currencies, CAKE, MUBARAK, BMT, X, and XRP all performed well. MUBARAK's price rose 64.02% this week, with the highest price reaching $0.2158. BMT's price rose 77.15%, and CAKE's price rose 49%, with a current market value of $700 million.
US market and hot news
The U.S. market performed weakly, with the three major stock indexes collectively closing slightly lower. The Federal Reserve announced that interest rates would remain between 4.25% and 4.50%, but Trump publicly urged a rate cut, saying that the impact of U.S. tariffs has gradually penetrated into the economy and may have a certain external impact on the crypto market.
News events worth noting include the Federal Reserve FOMC's announcement of its interest rate decision and a summary of economic expectations at 2 a.m. on March 20; CME Group will launch Solana (SOL) futures on March 17, but it is still awaiting regulatory approval; and the U.S. SEC's cryptocurrency working group will hold its first roundtable meeting on March 21 to further promote regulatory discussions on cryptocurrencies.
Popular sections and projects unlocked
Among the hot projects this week, Ethereum Layer2 project Starknet launched its mainnet between March 17 and 24, attracting a lot of market attention. At the same time, Fasttoken (FTN) and Melania Meme (MELANIA) unlocked 20 million and 26.25 million tokens respectively on March 18, with unlocking ratios of 4.65% and 17.50% respectively, which is expected to have a certain impact on the market.
In addition, the market value of the Cross-chain Communication project increased by 89.7% this week, with STAKELAYER, GASP and ZRO performing well; and the market value of the Consensys Portfolio also increased by 60.7%, showing strong resistance to declines when the market fell, with projects such as VPP, TOKE, AXS and SKL rising against the trend.
