Today marks the one-year anniversary of Gemini Block Trading™, a fully electronic block trading facility. Block trading enables our customers to buy and sell large quantities of digital assets outside of Gemini’s continuous order books, creating an additional on-exchange mechanism to source liquidity when trading in greater size.

Gemini customers have executed over $100mm (notional) of orders via Gemini Block Trading™, since its launch. This has not only been a great trading mechanism for institutional customers, but also for our individual customers who make up more than 85 percent of all block trading customers.

This is a great milestone as we **_build the future of money_**. We look forward to the many milestones to come in the years ahead!

Onward and Upward,

Team Gemini

Gemini Block Trading: One-Year Lookback

- We’ve updated the Gemini Mobile App to include candlestick mode when exploring crypto markets
- Hide balances on your Homepage to further enhance your privacy when on the go
- Hide dust from your Portfolio and get a clearer view of your crypto portfolio

At Gemini, we’re driven to improve user experiences across our platform for all types of crypto traders and investors. The Gemini Mobile App allows users to view their portfolios and trade crypto on the go, and __we’re thrilled to showcase a few subtle but important improvements to our mobile app__. 

We’ve updated our mobile app to help you better understand market movements, further protect your privacy, and provide you a clearer overview of your account. __Make sure to update your Gemini Mobile App to the most recent version to use these new features.__
![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)
## Candlestick Mode
![Blog Mobile app updates candlesticks](//images.ctfassets.net/jg6lo9a2ukvr/1873ey816HJn1hkZj8LbmI/62c9d55303477f2c55c9b109b1ce0a9f/Blog_Mobile_app_updates_candlesticks.png)

When researching crypto markets on the Gemini Mobile App, __you can now toggle between the traditional line graph mode and candlestick mode__. With candlestick mode, you can get a better understanding of the spectrum of trades within the timeframe you’ve selected. 

__Tap into a crypto you want to explore and tap the toggle button located at the top right corner of your mobile screen to switch between modes.__
![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)
## Homepage Balance Privacy Mode
![Blog Mobile app updates hidebalance](//images.ctfassets.net/jg6lo9a2ukvr/1ckfj8xvlNXfBCkk3wUkHU/80df36ead3e96fbeef8cc52ba5eef02f/Blog_Mobile_app_updates_hidebalance.png)

In today's digital world, privacy is more important than ever. At Gemini, we take your privacy seriously and want to make sure you feel secure when using our mobile app. To enhance your privacy, __you now have the option to hide crypto and fiat balances from your Homepage when using the app__. 

If you want to catch up on crypto movements or explore the content on our app when you’re in a crowded place, you can now hide the total value of funds you hold on Gemini when using our app. 

__Tap the profile icon at the top right of your screen and scroll down to “Portfolio display.” Toggle “Hide balances on Home” to ensure that your sensitive financial information is only visible to you.__
![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)
## Hide Dust on Your Account
![Blog Mobile app updates dust](//images.ctfassets.net/jg6lo9a2ukvr/2DUnucWPjZIKt6dYLUmUjg/89adec793f91bd04a048566f797585b8/Blog_Mobile_app_updates_dust.png)

At Gemini, you can buy a variety of different cryptos including [bitcoin (BTC)](https://www.gemini.com/prices/bitcoin), [ether (ETH)](https://www.gemini.com/prices/ether), and dozens of DeFi tokens. Depending on the market value of a particular crypto, you may end up with minimal amounts of crypto in your account balance, also known as “dust.” For balances that are worth less than 0.01 notional in your default fiat currency, you can now hide those amounts from your Portfolio tab so you can better understand the crypto for which you own a meaningful amount. 

__To hide your dust, tap the icon at the top right of your screen and scroll down to “Portfolio display.” Toggle “Hide dust” to enable this feature.__ You’ll always be able to see any dust you have in your account by disabling this feature. 

As we unlock the next era of financial, creative, and personal freedom, we will continue to improve the Gemini Mobile App to ensure you have the most seamless and secure crypto experience when on the go. 

Onward and Upward!

Team Gemini

We’ve Updated the Gemini Mobile App, Here’s What’s New

*Welcome to our Weekly Market Update.** *Explore weekly crypto price movements, read a quick digest of notable market news, and dive into a crypto topic — this week we discuss interest rates.*

<a href="#Crypto Movers This Week" target="">__Crypto Movers This Week__</a> 
<a href="#What Happened This Week" target="">__What Happened This Week?__</a> 
<a href="#Crypto Topic of the Week" target="">__Crypto Topic of the Week - Interest Rates__</a>

![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)



## Crypto Movers This Week (7D)

[Bitcoin (BTC) Price](https://www.gemini.com/prices/bitcoin) | ⬆️ 6.10% | $28,008
---
[Ether (ETH) Price](https://www.gemini.com/prices/ether) | ⬆️ 2.86% | $1,766
---
[Mask (MASK) Price](https://www.gemini.com/prices/mask) | ⬆️ 31.80% | $5.915
---
[Immutable X (IMX) Price](https://www.gemini.com/prices/immutable-x) | ⬇️ 14.40% | $1.222
---
[Livepeer (LPT) Price](https://www.gemini.com/prices/livepeer) | ⬆️ 12.20% | $6.908
---
Crypto prices as of Friday, March 24, 2023, at 11:45am ET. Percentages reflect trends over the past seven days. [Check out the latest crypto prices here](https://www.gemini.com/prices). 

New to Gemini? [Sign up for an account here](https://exchange.gemini.com/register).
![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)



## What Happened This Week?

__Takeaways:__ Banking woes continued as UBS bought rival Swiss bank Credit Suisse to stem a brewing crisis. In a coordinated action, the Federal Reserve and other central banks increased liquidity in the U.S. dollar funding markets, resulting in a boost for bitcoin (BTC) and ether (ETH) prices, which both hit 2023 highs. The Federal Reserve announced a rate increase of 25 basis points (bps), but signaled a coming pause.

__UBS Buys Credit Suisse in Bid to Avoid Further Bank Contagion:__ Following the collapse of Silvergate, Silicon Valley Bank (SVB), and Signature, this week brought further banking turmoil as Swiss bank UBS stepped in [to rescue its rival Credit Suisse for $3.25 billion USD](https://apnews.com/article/credit-suisse-ubs-bank-collapse-svb-swiss-1a06bc96cbca9be4fbfd20a8f008ab8f) in a bid to avoid further panic in global financial markets. The Swiss central bank is also set to provide support for the deal with a loan of 100 billion Swiss francs backed by a federal default guarantee to help support the deal. 

__Central Banks Join Forces to Increase U.S. Dollar Liquidity, Giving Crypto a Boost:__ The Fed, along with five other central banks, announced on Sunday, March 19, 2023, [coordinated action to boost liquidity](https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm) in U.S. dollar funding markets. This marked an important shift in market conditions and signaled a possible end to the quantitative tightening which has been a major headwind throughout the past year. 

The news helped to push [bitcoin (BTC)](https://www.gemini.com/prices/bitcoin) and [ether (ETH)](https://www.gemini.com/prices/ether) higher at the start of the week, both reaching new YTD highs of ~$28.9k USD and ~$1,846 USD respectively. Prices then consolidated in the build up to Wednesday’s highly-anticipated Federal Open Market Committee (FOMC) meeting, with interest rate expectations changing dramatically over the past few weeks.

__Fed Raises Rates Again, But Signals a Potential Pause:__ Despite the recent bank failures and growing concerns around the banking sector, [the Federal Reserve announced a 25 bps rate increase](https://www.axios.com/2023/03/22/fed-raises-rates-silicon-valley-bank) at the latest FOMC meeting on Wednesday, as they push ahead in their fight to tame inflation. The FOMC, however, signaled that rate increases may be coming to an end, depending largely on incoming data. [The latest Fed dot plot](https://www.marketwatch.com/livecoverage/stock-market-today-dow-futures-decline-ahead-of-rate-decision/card/dot-plot-shows-just-one-more-fed-rate-hike-in-2023-xWZikqw6cSiops1x9rVw), which outlines interest rate expectations from Fed officials, suggests only one more 25 bps hike is likely this year. 

Federal Reserve Chair Jerome Powell highlighted during a Wednesday news conference that the Fed had considered a pause in rates due to the recent banking crisis, but unanimously chose to raise rates given inflation data and the strength of the labor market. At the news conference, Powell stated “[if we need to raise rates higher, we will](https://www.youtube.com/watch?v=KNRg3Mkxhdo),” which markets received as more hawkish than expected in light of the recent stress across the banking sector. This led to all the major U.S. indices sliding lower into the close, and crypto prices pushing lower too.

__Bitcoin Takes Mild Dip Following Rate Increase, But Remains Strong:__ [Bitcoin (BTC)](https://www.gemini.com/prices/bitcoin) faced strong resistance throughout the week at the ~$28.4k USD level, before briefly touching below $27k USD following the Fed's latest policy decision. However, Bitcoin remains the main focus among crypto with [Bitcoin Dominance reaching another year-high](https://www.tradingview.com/symbols/BTC.D/) of 47.8%.

__XRP Has Strong Week, and Arbitrum Airdrops Token:__ In altcoin news, [XRP](https://www.tradingview.com/symbols/XRPUSD/) was among the biggest gainers this week, with its price increasing by over 20% at one point as investors grew more confident that [a ruling in the long-running court case](https://www.cnbc.com/2023/03/22/xrp-cryptocurrency-jumps-as-investors-hope-ripple-will-win-sec-case.html) between the SEC and Ripple would resolve in their favor, following a supplemental notice submitted by Ripple on Monday. The outcome of the case is being closely watched by many, as a positive result for Ripple could set a crucial precedent for crypto. 

Arbitrum, one of the largest Ethereum Layer 2s, with nearly $2 billion USD in total value locked (TVL), [launched a token airdrop on Thursday](https://www.coindesk.com/tech/2023/03/23/arbitrum-users-claim-42m-arb-tokens-in-first-hour-of-airdrop/), with 11.5% of the total supply going to eligible Arbitrum users and 1.1% to DAOs that operate on the Arbitrum ecosystem. The token will be used for governance relating to Arbitrum One and Arbitrum Nova.

-From the Gemini Trading Desk

![Blog Inline 03](//images.ctfassets.net/jg6lo9a2ukvr/6NjikZ3DzdLHZdqBx8G1oG/87208c48dc03f7b455a92a1085b1de34/Blog_Inline_03.png)



## Crypto Topic of the Week — Interest Rates

Interest rates can significantly impact the crypto and wider financial markets, as we’ve seen over the past months. As one of the most important monetary policy tools governments have at their disposal, this week, we provide a high-level overview of what interest rates are and why they matter. 

[__What are interest rates?__](https://www.gemini.com/cryptopedia/how-do-interest-rates-work-crypto-lending) Interest rates represent the cost of borrowing money, or the return lenders receive for lending money. Central banks, like the U.S. Federal Reserve, generally set target interest rates which influence rates throughout financial markets. Based on the number they set, lending institutions — commercial banks, credit unions, and the like — will calculate the interest rate they charge their customers. When setting their rates, lending institutions will also take other variables into consideration, such as a borrower's credit score. 

Interest rates are generally quoted as an annual percentage rate (APR) or annual percentage yield (APY). These reflect the rate that a lender charges a borrower for a consumer loan (APR), or the amount a consumer receives from a financial institution when storing their money in different vehicles (APY). Most industries pay close attention to interest rate changes, as they affect consumer and corporate debt, the health of financial markets, and the economy as a whole.

__Why do interest rates matter?__ As an important tool used by governments and central banks to influence economic activity, interest rates matter for a variety of reasons. We touch on some of the main impacts below.

__Borrowing and lending:__ The immediate impact of interest rates is on the cost of borrowing money, and the return on lending money, as explained above. When interest rates are low, borrowing is cheaper, potentially encouraging individuals and businesses to take out loans to invest or spend. Conversely, high interest rates often have the opposite effect, leading to less spending and lower demand.

__Consumer and business spending:__ Lowering interest rates, which we saw the Fed do throughout much of the early 2020s [in response to the economic impact of the COVID-19 pandemic](https://www.brookings.edu/research/fed-response-to-covid19/), can stimulate spending and boost economic activity. Keeping rates low for long periods of time, however, can increase inflation as more economic activity pushes prices higher. At a high level, this is the dynamic that the Fed has been dealing with over the past few months, [which has led them to quickly raise interest rates](https://www.nbcnews.com/business/economy/inflation-federal-reserve-bank-collapse-fears-rcna75736). 

__Investing:__ Interest rates can also play a role in investment decisions. Low interest rates often drive individuals and businesses to invest in assets like equities, and crypto, as the potential returns may be higher than other investments. This dynamic could be playing out in real time, as recent signals from the Fed that it may slow rate increases has been accompanied with equities and crypto running higher.

__Currency impacts:__ While this is certainly not an exhaustive list of how interest rates can impact financial markets, another final major impact they have is on the value of fiat currencies. Central banks set their national interest rates at different levels, depending on the economics of each. When a country's interest rates are higher than those of others, its currency may become more attractive to foreign investors seeking higher returns. This can lead to an increase in demand for the country's currency, driving up its value relative to other currencies.

[You can read more about interest rates here](https://www.gemini.com/cryptopedia/how-do-interest-rates-work-crypto-lending). 

See you next week. Onward and Upward!

Team Gemini

**This material is for informational purposes only and is not (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, (ii) intended to provide accounting, legal, or tax advice, or investment recommendations, or (iii) an official statement of Gemini. Gemini, its affiliates and its employees do not make any representation or warranty, expressed or implied, as to accuracy or completeness of the information or any other information transmitted or made available. Buying, selling, and trading cryptocurrency involves risks, including the risk of losing all of the invested amount. Recipients should consult their advisors before making any investment decision. Any use, review, retransmission, distribution, or reproduction of these materials, in whole or in part, is strictly prohibited in any form without the express written approval of Gemini.*

Bitcoin (BTC) and ether (ETH) hit 2023 highs this week, as the Fed raised interest rates but signaled a coming pause given continued banking woes.

Weekly Market Update | March 24, 2023 | Crypto Prices, Market News, and Crypto Education

Weekly Market Update - Friday, March 24, 2023

We are thrilled to partner with the iconic Oxford-Cambridge Boat Race for the third year running. [The Gemini Boat Race](https://www.theboatrace.org/), between perennial rivals University of Oxford and University of Cambridge, will take place on Sunday, March 26, 2023, on the River Thames in London. [You can watch the race here](https://www.theboatrace.org/). 

Rowing is deeply ingrained in our founders’ DNA. In 2010, Tyler and Cameron Winklevoss competed in the Oxford Blue Boat after competing at the 2008 Beijing Olympic Games. They drew upon the spirit of leadership and tenacity fostered by rowing when founding Gemini in 2014, and these values have underpinned our mission ever since. 

From the start, this has been a natural partnership for Gemini, and we are proud to be the first fintech company to serve as Principal Partner — following a long line of esteemed institutions. Our partnership, [which began in 2021](https://www.gemini.com/blog/introducing-the-gemini-boat-race-2021), has helped broaden the event’s impact by increasing access to rowing facilities and education, and has supported removing financial barriers that often prevent prospective athletes from participating in the sport of rowing.

Over the past three years, we are grateful to have helped over 900 young people learn to row. Through the Boat Race Fund, we’ve supported projects with London Youth Rowing in Leeds, Fulham Reach Boat Club, Behind Every Kick and Brixton Wings in London, Ely College in Cambridgeshire, Firhill Youth Project and Community Sports Hub in Glasgow, and Warrington Youth Rowing in Cheshire. We hope the young athletes who are part of these organizations will take lessons from their rowing experience into other aspects of their life.

It’s an honor and a privilege to play a part in ensuring the longevity of such a treasured sporting event. We wish the teams rowing this coming weekend the very best of luck, and we are delighted to continue supporting the amazing athletes competing this weekend.

Onward and Upward!

Team Gemini

INDUSTRY

Gemini Block Trading: One-Year Lookback

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