Place/Date: - March 11th, 2023 at 8:13 am UTC · 4 min read
Source: SignUp Token
In 2022, the crypto market lost more than a trillion dollars in value as concerns over a recession were exacerbated by rising interest rates. Is Silvergate following the same trend?
Silvergate Capital (SI) stated Wednesday afternoon that it will wind down operations and voluntarily dissolve its bank in response to the collapse of the cryptocurrency market, which resulted in billions of deposits leaving the bank in recent months.
Due to the collapse of the cryptocurrency exchange FTX, Silvergate’s total deposits and assets by the end of the fourth quarter of 2017 had fallen to $6.2 billion and $11.3 billion, respectively. Silvergate’s capital as a percentage of its assets fell by 50% as a result of the reduction in deposits. This leverage ratio, which is a level of special concern for banks and below which regulators are justified in intervening for any U.S. bank, dropped from 10.7% in the third quarter to 5.3%.
In this article, you learn about key crypto of 2023 including SignUp Token, LUNA, and STAX.
A ground-breaking idea called SignUp Token seeks to make the world of decentralized finance easier to understand for the typical investor. This project offers a simple and convenient way to invest in DeFi companies by letting consumers sign up with just their email addresses. The ERC-20 token will be made available on the Uniswap exchange platform after the project hits its 1 million subscriber goal, giving investors the chance to trade it for other Ethereum-based digital currencies.
SignUp Token’s simplicity is one of its main advantages, making it a great investment choice for both new and seasoned investors. Without requiring specialized knowledge of cryptocurrencies or decentralized finance.
Another important advantage of the project is its distinctive decentralized structure, which results from the absence of a doxxed staff. Instead, the community, which is always expanding, is wholly responsible for its success and worth. Community members are kept informed during the development of this lucrative initiative by receiving regular updates through email.
The algorithmic stablecoin TerraClassicUSD is part of Terra (LUNA), a public blockchain platform that grew out of Terra Classic (UST). The native token of Terra (LUNA), LUNA, which has since been renamed LUNC, formerly collateralized UST before it fell in a bank run in May 2022. The crash led to the launch of a new chain and practically zeroed out the value of Terra (LUNA).
The heritage of Terra Classic is carried on by the new Terra (LUNA) blockchain without the UST stablecoin. With the assistance of the Terra (LUNA) community known as “LUNAtics,” it will continue to grow. The price of Terra (LUNA) is $1.27 right now. Certain analysts still believe in the revival of Terra Luna after CEO Do Kwon announced a proposal to restart the entire blockchain.
A relatively recent blockchain project built on the Bitcoin network is called Stacks (STX). In 2017, its native token (STX) was released. The main goal of Stacks was to make it easier for blockchain developers to build and manage smart contracts that are stored and protected on the Stacks blockchain.
The fact that non-fungible tokens on the Stacks network continue to increase is one of the main reasons why Stacks is anticipated to succeed well above expectations. As a result, Stacks (STX) returned over 300% to its investors in 2023. However, recently the cost of Stacks plummeted by more than 32 % over the last seven days but the weekly downfall may only be temporary.
In comparison with LUNA, SignUp Token is an intriguing initiative that provides investors interested in DeFi enterprises with a variety of advantages and use cases. It is the perfect investment choice for both new and seasoned investors due to its simplicity, distinctive decentralized structure, and strong community emphasis.
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