Apr 03, 2023
Monthly Market Recap - March 2023
This report is designed to provide the reader a quick overview of the blockchain economic categories that have been impacting recent crypto market performance, gain insights into where institutional investors are directing capital for digital assets, and comprehend how crypto is affected by and influences the broader market landscape.
Key takeaways for the month:
- Major bank failures have increased concerns about financial stability, leading to a decrease in market-based interest rate expectations. This has resulted in an uptick in the price of Bitcoin to levels last seen in June 2022.
- Stellar (XLM) rose over 25.7% last month, outperforming the top two mega-cap tokens Bitcoin (+22.7%) and Ether (+13.2%).
- Open interest for Bitcoin futures climbed further to just under 15K contracts. Meanwhile, Ether futures were mostly unchanged.
Monthly Index Performance
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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell any of the underlying instruments cited including but not limited to cryptoassets, financial instruments or any instruments that reference any index provided by CF Benchmarks Ltd. This communication is not intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. Please contact your financial adviser or professional before making an investment decision.
Note: Some of the underlying instruments cited within this material may be restricted to certain customer categories in certain jurisdictions.
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