The major tokens are currently sitting roughly where they were 7 days ago, albeit with some volatility during that period. BTC at around USD 28,500 and ETH at around USD 1,880 put the prices roughly 10% down from their peaks in mid-April following the successful “Shapella” upgrade of the Ethereum network.

After a relatively dull 7 days in price volatility, we have seen modest gains across the top tokens. Bitcoin saw its price stabilise at around USD 29,000 over the Easter weekend, whilst ETH floated around the upper USD 1800’s before flirting with the USD 1,900 level.

The price action this week seems to have focussed on the Layer 1 tokens, with XRP, Cardano, Stellar, and Hedera all up double digits over the past 7 days.

Regulation appears to have been the main focus in the last week, which has created a little (but not a lot) of volatility in token prices.

The main news had been that the SEC had issued a Wells notice to Coinbase, potentially for the Coinbase Earn program.

Another week, another bank in trouble – this time, over in Europe with the 167-year-old AAA institution of Credit Suisse. Over the weekend, the regulator swiftly stepped in and brokered a deal, with UBS buying the bank for almost $3bn, mostly wiping out the shareholders but entirely wiping out the “AT1” bondholders.

What a tumultuous week! Last week there was clearly strain at Silvergate bank, this week it announced a voluntary liquidation. Not to be outdone, Silicon Valley Bank (SVB) on Friday collapsed in the biggest US bank failure since 2008.