BitMart Market Weekly Report
According to BitMart's market report on March 21, the cryptocurrency market showed overall fluctuations this week, with mainstream coins performing differently.This Week's Cryptocurrency Market Dynamics
This week, Bitcoin (BTC) price increased by 3.23%, while Ethereum (ETH) also saw a rise of 5.17%. BMX performed notably well, with a price increase of 7.7%. The total market capitalization of the cryptocurrency market decreased by 1.46% this week, dropping to $2.77 trillion, and the Fear and Greed Index remained in the fear zone at 27. Meanwhile, BTC ETFs experienced a net outflow of approximately $135 million this week, and ETH ETFs also saw a net outflow of $73.6 million.
In terms of capital flow in the crypto market, BTC ETFs have seen net outflows for five consecutive weeks, with a single-week outflow of $830 million this week, while ETH ETFs have also experienced net outflows for four consecutive weeks. Notably, the ETH/BTC exchange rate fell to 0.023, marking a new low in nearly four years. However, the AHR999 index remains around 0.8, indicating that BTC prices are still within the buying range for long-term investors.
This Week's Popular Coins
In terms of popular coins, CAKE, MUBARAK, BMT, X, and XRP have all performed well. MUBARAK's price increased by 64.02% this week, reaching a peak price of $0.2158. BMT's price rose by 77.15%, and CAKE's price increased by 49%, with a current market capitalization of $700 million.
U.S. Market Overview and Hot News
In the U.S. market, the major indices showed weak performance, with all three major stock indices slightly declining. The Federal Reserve announced that interest rates would be maintained between 4.25% and 4.50%, but Trump publicly urged for a rate cut, stating that U.S. tariffs have gradually permeated the economy, which may have some external impact on the crypto market.
Notable news events include the Federal Reserve FOMC announcing the interest rate decision and economic outlook summary at 2 AM on March 20; CME Group will launch Solana (SOL) futures on March 17, pending regulatory approval; and the SEC's cryptocurrency working group will hold its first roundtable meeting on March 21 to further promote regulatory discussions on cryptocurrencies.
Popular Sectors and Project Unlocks
Among this week's hot projects, the Ethereum Layer 2 project Starknet will launch its mainnet between March 17 and 24, attracting considerable market attention. Meanwhile, Fasttoken (FTN) and Melania Meme (MELANIA) will unlock 20 million and 26.25 million tokens respectively on March 18, with unlock ratios of 4.65% and 17.50%, which are expected to have a certain impact on the market.
Additionally, cross-chain communication projects saw a market capitalization increase of 89.7% this week, with STAKELAYER, GASP, and ZRO performing exceptionally well; the market capitalization of Consensys Portfolio also rose by 60.7%, demonstrating strong resilience during market downturns, with projects like VPP, TOKE, AXS, and SKL rising against the trend.
Risk Warning:
The risks associated with using BitMart services are entirely borne by you. All cryptocurrency investments (including returns) are inherently highly speculative and involve significant risk of loss. Past, hypothetical, or simulated performance does not necessarily represent future results.
The value of digital currencies may rise or fall, and buying, selling, holding, or trading digital currencies may involve substantial risks. You should carefully consider whether trading or holding digital currencies is suitable for you based on your personal investment goals, financial situation, and risk tolerance. BitMart does not provide any investment, legal, or tax advice.
