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Cryptocurrency Set to Boom Over Banking Woes – Toncoin & Monero Post Marginal Gains as Sets Course to 1 Million Subscribers

March 23rd, 2023 at 11:12 am UTC · 3 min read

Cryptocurrency Set to Boom Over Banking Woes – Toncoin & Monero Post Marginal Gains as Sets Course to 1 Million Subscribers
Photo: Signuptoken

The turbulence in the banking sector prompted by a series of closures and eventual takeovers of multiple US-based banks have set up the ideal financial ecosystem for cryptocurrency, as the industry has been riding on a major surge since the crisis began unfolding at the beginning of March.

The instability in the banking sector, higher-than-expected inflation data, and renewed confidence in the US Federal Reserve have caused a massive jump in most cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH) in particular, mainly due to the fact they account for roughly 65% of the industry’s total domination.

At the time of writing, the global cryptocurrency market capitalization was at $1.16 trillion as the fallout in the global banking sector has provided cryptocurrency to stand out as an alternative to traditional banking.

Toncoin (TON) and Monero (XMR) were some of the cryptocurrencies to post gains during the bull run while was impressing investors with its easy-to-use interface.

Toncoin – Slight Resistance by Bulls, Supports Overnight 24-hour Price Jump

Toncoin (TON), a decentralized layer-1 blockchain, was up by 0.68% in overnight trading after days of downward movement causing TON to trade at a low of $2.36. However, slight resistance by bulls in daily trading supported Toncoin to post a green movement to trade at its current price of $2.38.

At the time of writing, Toncoin’s price was dominated by bears with a weekly downward movement of 1.10% as it held a market capitalization of $2.9 billion.

Monero – Head-to-Head Resistance by Bulls & Bears

Monero (XMR), which allows transactions to take place privately and with anonymity, made marginal gains after a week of back-and-forth trading which saw its price post a high of $158.88 and a low of $142.86.

At the time of writing, Monero was trading at $154.58 with a weekly upward movement of 0.95% while holding a market capitalization of $2.8 billion. – Sign Up for the Future of Cryptocurrency is one of the latest projects created on the Ethereum blockchain with a unique feature that offers the average crypto the simplest of ways to invest in the Decentralize Finance (DeFI) ecosystem.

Cryptocurrency Set to Boom Over Banking Woes – Toncoin & Monero Post Marginal Gains as Sets Course to 1 Million Subscribers

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