New Delhi: Crypto tokens continued their downward spiral movement on Thursday as rate hike fears haunted investors. That said, Bitcoin managed to hold $20,000 levels.
The latest red-hot inflation numbers have put global investors on edge about the potential actions by the US Fed in its meeting next week. The FOMC is likely to push interest rates by 75 basis points, while a 100-bps hike can not be ruled out.
Barring the US dollar-pegged Tether, all other major crypto tokens were trading lower on Thursday. Shiba Inu and Avalanche dropped 3 per cent each, whereas Bitcoin, Polkadot and Polygon shed 2 per cent each.
The global cryptocurrency market cap was trading lower at $990.19 billion, dropping almost a per cent in the last 24 hours. However, total trading volume tumbled as much as 23 per cent, close to $78.30 billion.
Did you Know?
From tracking sustainability of products to monitoring pollution, environmental researchers are now finding blockchain’s use in solving the climate...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...