3 Cryptocurrencies on the Rise: XinFin, Joe, and Hex

• Three digital assets (XinFin, Joe and Hex) have seen significant price movements in the last 24 hours.
• XinFin is up 21%, JOE is up almost 20%, and HEX is up over 16%.
• These platforms all incorporate unique features such as cross-border trade finance, limited-edition NFTs linked to real-world collectibles, and blockchain certificates of deposit.

Coin Movers Today

The cryptocurrency market has seen some interesting movements today, with three digital assets standing out from the rest regarding price performance. This article explores the top coin movers and the unique features each platform offers.


XinFin (XDC) has experienced a 24-hour price increase of 21.37%. The platform facilitates cross-border trade finance, supply chain finance, and other business processes through its hybrid blockchain model. Its current market capitalization stands at $598 million — with a 24-hour trading volume of $12 million — while its all-time high (ATH) of $0.19451 was achieved on May 8, 2021.


JOE (JOE) is another digital asset that saw significant price movements in the last 24 hours — increasing by 19.94% over that period — with a 7-day increase of 75.82% and a 30-day increase of 45.25%. It is a decentralized platform for creating and trading limited-edition NFTs that are linked to real-world collectibles; its market capitalization currently stands at $136 million — with a 24-hour trading volume of $86 million — while its ATH was achieved on March 11, 2021 at a value of $5.05117 USDT per token.


Finally, HEX (HEX) saw an increase in value by 16.93% since yesterday — surging 14.65% in the past seven days with a 30-day increase of 48.31%. This blockchain certificate of deposit allows users to stake their HEX tokens and earn interest on their holdings; it also offers „gamification“ elements to enhance user experience even further; its current market capitalization stands at an estimated value over $1 billion USDT–with reported daily trading volumes around $250 million USDT–while its ATH was set back on January 4th 2021 at a peak value near 12$ USDT per token .


In conclusion, XinFin, Joe and Hex have been some of the top coin movers today – offering features such as cross border trade finance, limited edition NFT’s linked to real world collectibles or certificates of deposit – allowing users to stake tokens for rewards or enhanced experience through gamification elements respectively

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Global Distress: Gold Prices Up, Oil Prices Down

• Gold reflects financial uncertainty, while oil predicts economic downturn
• Bitcoin touched the low of $19,500 due to the fallout of SVB, further contagion spread into Europe.
• Credit Suisse has got major headlines, but we can suppose contagion may spread further as rate hikes at this moment in time are planning to go ahead.

Gold and Global Financial Distress

Gold is pricing in global financial distress due to the recent news of SVB’s fallout and the potential for further contagion spreading into Europe. This has been reflected in Friday’s session where Bitcoin touched the low of $19,500 and gold was up 5%.

Oil Prices and Economic Downturn

Oil prices have plummeted by 15% in the past month which could indicate an upcoming recession. Oil is seen as an indicator of both inflation and recession which means it can be used to predict future economic trends.

Credit Suisse Contagion

Credit Suisse has made major headlines recently but there is a possibility that contagion may spread further if rate hikes are still planned for this moment in time.

Bitcoin Price Action

Despite the turmoil, Bitcoin is up 25% from its lows and could be making markets aware of global financial distress. It remains unclear what other consequences this could lead to but it is certainly something worth watching out for.


Overall, gold is pricing in global financial distress while oil prices point to an impending economic downturn. Credit Suisse has also been affected by all these changes but it remains to be seen how far reaching their impact will be. Finally, despite all this volatility Bitcoin has managed to remain relatively stable with only a 25% drop from its highs.

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Silvergate Bank to Liquidate: Deposits to Be Repaid in Full

• Silvergate Bank will halt operations and undergo liquidation
• The company made this decision due to “recent industry and regulatory developments”
• Silvergate previously announced it would halt its Silvergate Exchange Network (SEN) while other services continue to operate.

Silvergate Bank Shutting Down

Silvergate Bank announced today that it will wind down operations and undergo liquidation, according to a March 8 press release from its holdings company, Silvergate Capital. The company said that bank operations will be halted in accordance with regulations, and that this course of action will involve a full repayment of all deposits.

Cause For Closure

The company did not specify the cause for the closure but stated that it was due to “recent industry and regulatory developments” without naming any specific events. It is unclear whether other regulators and government bodies will become involved in the matter.

Other Services Affected

Silvergate previously announced that it would halt its Silvergate Exchange Network (SEN) while ensuring that other services continue to operate. It reiterated today that its other deposit-related services will remain active during the wind-down process.

SEC Filing

On March 3, Silvergate submitted an SEC filing stating that it would file a late 10-K report. In addition, the company also said that it faced inquiries from regulators such as the U.S. Department of Justice (DOJ). That investigation may concern Silvergate’s relationship with FTX, as reported in February, though the filing does not state this outright.

Stock Performance

Several major crypto companies stopped using Silvergate’s services shortly after the filing (and shortly before the company announced that it would halt its SEN service). Many of those companies began to use the competing Signature Bank. The value of Silvergate (SI) is down 5.76% today and down 63% since March 1

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Circle Cuts Ties with Silvergate: Share Prices Crash

• Circle responds to Silvergate concerns and is in the process of unwinding services.
• Silvergate Capital stock drops 45%, experiencing a year-to-date loss of 57%.
• Signature Bank and Coinbase stocks also drop following news.

Circle Addresses Concerns About Silvergate

Circle, issuers of the stablecoin USDC, responded to the ongoing FUD around its relationship with the distressed crypto bank Silvergate in a tweet on March 2. They said they are „sensitive to the concerns around Silvergate“ and they are currently in the process of discontinuing specific services while notifying customers.

Silvergate Stock Drops

On March 2, the stock of Silvergate Capital, the parent company of Silvergate bank, dropped after the bank postponed submitting its yearly 10-K report while assessing recent events that occurred after 2022. The firm experienced a decline of 45% at the end of the day and has since fallen by as much as 48.8%. Subsequently, its year-to-date loss extended to 57%. This was due to multiple obstacles that have been encountered since late last year such as inquiries from Department of Justice into transactions with FTX and Alameda Research.

Other Stocks Impacted

Signature Bank which also provides banking services to cryptocurrency startups was negatively impacted by this drop in Silvergate’s shares; reaching a 52-week low during the day and has since fallen further by approximately 6%. Following this news Coinbase stock also experienced a drop of approximately 7%.

Unwinding Services

In response, Circle stated that they are „in process of unwinding certain services with them and notifying customers.“ They acknowledged these concerns but did not give any additional information about what services would be discontinued or when customers will be notified.


Overall it seems that Circle is taking steps towards addressing these issues related to their relationship with Silvergate but it remains unclear what those steps are or how long it may take for them to be implemented. It is likely that other banks providing banking services for cryptocurrency companies may experience similar volatility until more details become available about this situation.

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