# 03/16 Market Update: BTC rises over $41,000

According to 16th March data from CoinGecko, BTC experienced a significant increase of 6.7% in the last 24 hours to reach $41,549. In addition, ETH also experienced a 6.9% rise in the last 24 hours and is now at $2,736. The market is volatile now, please pay attention to the risk.

Today, [ConsenSys](https://consensys.net/) announced the close of a $450 million USD financing round, bringing its valuation to over $7 billion USD. The proceeds from the round will be converted to ETH to rebalance the ratio of ETH to USD-equivalents in line with ConsenSys’ treasury strategy. This could be a reason for the recent price movements.



Tokenlon team,

2022.03.16
