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San Francisco-based First Republic Bank is most likely to be the latest US-based bank to collapse as shares in the troubled bank crashed more than 46%, after reports that it may need to raise more funds despite a $30 billion rescue from 11 of the biggest banks in the United States last week.
First Republic's shares have dropped around 88% in the past two weeks prompted by the sudden collapse of Silicon Valley Bank, along with New York's Signature Bank two days later, which rattled investor confidence in the bank.
According to the Wall Street Journal, First Republic Bank, which holds about $213 billion in assets and $176 billion in deposits, has struggled to reassure depositors that it will not suffer the same fate as SVB and Signature, adding that JP Morgan CEO, Jamie Dimon is currently leading the efforts to provide new support to the troubled bank.
The meltdown in the global banking sector and financial markets have provided a perfect setting for cryptocurrency to stand out as an alternative, and for a continued advance in cryptocurrency markets, as Bitcoin (BTC) and Ethereum (ETH) have surged in the past week while Signuptoken.com, the latest entry to the industry was making substantial headway since its launch.
As turmoil overshadows the traditional world of stocks and bonds, Bitcoin (BTC) has traded along an extremely bullish trend as its price has surged by over 40% in March since the collapses in the banking sector began at the beginning of the month.
The collapses reinvigorated confidence in digital assets as Bitcoin jumped to a 90-day high of $28,527.72 last week and has since corrected to trade at its current price of $27,606.02, after declining by 2.27% in the past 24 hours, but still indicated a weekly growth of 13.63%.
Ethereum (ETH) has seen a sharp increase in its price over the past week as it briefly traded above the $1800 mark to post a 90-day high of $1,843.84. Experts suggest Ethereum's surge is prompted by Bitcoin's massive gains and the announcement of Ethereum's Shanghai hard fork update date (April 12), which will allow users to withdraw their staked ETH.
At the time of writing, Ethereum had corrected to a 3.43% decline to trade at $1,735.02, as a clear move above the $1,850 level could send ETH toward $1,920 while further gains could even mean a movement toward the $2,000 resistance zone or $2,120 in the near term.
Signuptoken.com is one of the latest tokens built on the Ethereum network with a stand-out feature from the other traditional cryptocurrencies, as it offers its users a far more simple and convenient way to invest in Decentralized Finance (DeFi) companies by simply letting consumers sign up with just their email addresses to secure a token.
Based on the principle of simplicity, the ERC-20 token, unlike any other cryptocurrency, does not have a presale or Initial Coin Offer (ICO) to launch, and instead has a target of 1 million email subscribers to go live on the market on the Uniswap exchange platform. The project has already received close to 1000 sign-ups and once the token goes live, Signuptoken.com will allow investors to trade SignUp Tokens for other Ethereum-based digital currencies.
Signuptoken.com has been created specifically for the average crypto user as it does not require a cent to secure a token, and the process is time efficient as it takes less than a minute to complete, and a user does not require any specialized knowledge of cryptocurrencies or decentralized finance.
Subscribers are considered the insiders/originals and will have more leverage and will have access to all the news related to the token regarding its launch and pricing, making it easier to decide whether or not a token should be purchased.
Website: https://signuptoken.com/
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
