Leading stablecoins lose their peg and DEXs register record high volume after $42 billion SVB bank run

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City AM

By Darren Parkin Data from CryptoCompare shows that the price of Bitcoin dropped from around $22,500 to around $22,100over the last seven days after recovering from a weekly low below the $20,000 mark, with the cryptocurrency crashing over a bank run in the traditional finance space. Ethereum’s Ether, the second-largest cryptocurrency by market cap, moved similarly to BTC, dropping from around $1,550 to a $1,350 low before it started recovering and climbed back up to $1,580. This past week was initially dominated by a number of headlines surrounding Silvergate Bank, Bank was one of the few mai…

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