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Crypto Market Stabilizes After Weekend Sell-Off
The weekend saw a major sell-off that left major cryptos like Bitcoin down 15% in value. The bleeding seems to have stopped Tuesday, as markets stabilized for the first time in a week.
After an August rally, layer 1 blockchain tokens including Solana and Polkadot mirrored Bitcoin’s loss of 18%, as investors looked to cash in on the recent upswing.
U.S. stock futures posted modest gains and bond prices edged up.
Matt Weller, head of research for Forex.com, told CoinDesk in an email that there was “little in the way of fundamental or macroeconomic news to drive the sell-off, but rather traders’ appetite for risk assets has simply collapsed across the board.”
Despite Weller’s comments, the upcoming U.S. Federal Reserve’s annual economic symposium...
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