The domino effect triggered by the collapse of Silicon Valley Bank reached the German multinational investment bank, Deutsche. Deutsche Bank AG's share price fell around 10% in the trading market session. However, the digital asset market appears to be calm amid the banking crisis that erupted.
Deutsche Bank AG's price fell for the third day in a row, losing around a fifth of its value this month alone. Based on the data, Deutsche Bank was down 10% to trade at $8.76, at the time of the report. With this, its share price has declined more than 20% this month.
The emergency bailout of Credit Suisse by UBS to stop the crisis triggered by the collapse of SVB has further heightened fears of contagion in the market.
Reports suggest that UBS Group AG and the Swiss authorities are in the phase of sealing the deal and retaining clients and employees. UBS's share price also fell by 6% on Friday.
On the other hand the crypto asset market has so far shown progressive momentum amid growing concerns. The cumulative market cap increased by 1.12% over the past day to reach $1.17 trillion. Meanwhile, its 24-hour trading volume has declined by 16% to $56 billion.
Bitcoin, the world's largest crypto price jumped around 5% over the past 7 days. BTC price is confidently holding the important level of $28k.
