Protect Your Bitcoin And Ethereum Tokens With The Crypto Vault LockYourCrypto
A crypto market is a volatile place for investors looking to purchase tokens. With the threat of external pressures, be it the Silicon Valley Bank crash or the presence of opportunistic cybercriminals, crypto investors in the business of trading for tokens will always look at the best ways to protect their digital assets. For those holding Bitcoin (BTC) and Ethereum (ETH) tokens, they will be emboldened by how the two giant cryptocurrencies have rallied strongly this week. In such times, they may wish to protect their crypto assets from theft, which is where the digital vault LockYourCrypto comes in.
This article will look at how Ethereum and Bitcoin have rallied impressively following the Silicon Valley Bank crash and explain how the crypto vault LockYourCrypto can safeguard your digital assets.
Bitcoin Has Seen Its Price Bounce Back After SVB Crash
The crypto market tanked after the recent Silvergate Capital crash. This was when the crypto bank failed after losing billions in customers withdrawing $8.1bn, and the bank losing over 60% of its deposits in one quarter following the FTX crash. The loss of confidence in Silvergate triggered its demise and sparked a loss of confidence in crypto, with major tokens like BTC and ETH plummeting in price.
This was seemingly compounded by the Silicon Valley Bank and Signature Bank crashing. The SVB ran into a crisis when it announced a share sale to stabilise its financial sheets, triggering a capital flight as SVB customers lost confidence. This initially caused an issue in prices for stablecoins, but as the U.S. federal government stepped in to guarantee all deposits for SVB and Signature depositors, this sparked a rally in the prices for major cryptos like Bitcoin.
Before the SVB crash, the BTC token had been trading bearishly near $19,500 but has since climbed to just over $24k with a positive price swing of nearly 15% in the past week. This has underlined the confidence BTC traders rightly have in Bitcoin as its price rallies with it looking to eventually be trading at $25,000
Ethereum’s Shanghai Upgrade Has Long Been Sought By ETH Holders
Ethereum is trading in the green following the recent collapse of SVB and will hope to be able to sustain this for a bullish run. Across the past week, it has seen a price swing of over 8% as it has begun trading in the green. The ETH token is now selling for just under $1700, and Ethereum sits on the CoinMarketCap with a market cap of just north of $203 billion.
This comes as it prepares for its Shanghai upgrade, which will enable the withdrawal of staked ETH and complete Ethereum’s transition to a proof-of-stake network.
How LockYourCrypto Can Protect Your Tokens From Theft
The crypto world brings with it many benefits as well as challenges. Digital assets are always at risk of security breaches due to cyber criminals. For example, a report published by the United Nations revealed 2022 saw huge losses sustained by the crypto community due to cybercriminals, with $3.8bn stolen from crypto-related businesses.
This is where LockYourCrypto arrives to protect your crypto assets. It allows investors to safely deposit their funds and determine how long cryptos will remain deposited through a very simple process that ensures verification and provides reliability. It becomes a very handy crypto vault for investors, sending them a certificate to confirm details of the deposit so that it can be verified. This is as simple and effective as it gets to stay within the crypto market.
If you would like to protect your crypto assets today, then visit LockYourCrypto’s website to see more.
LockYourCrypto – https://lockyourcrypto.com/
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