Bitcoin, Ethereum and other major coins crashed on Wednesday evening, as the global cryptocurrency market cap lost more than 6.4% to $1.2 trillion at press time.
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin (CRYPTO: BTC)
-5.5%
-0.1%
$28,747.98
Ethereum (CRYPTO: ETH)
-8.2%
-7.6%
$1,919.34
Dogecoin (CRYPTO: DOGE)
-7.2%
-1%
$0.08
Top 24-Hour Losers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+/-)
Price
TerraUSD (UST)
-30.112.6%
$0.09
Kadena (KDA)
-22%
$2.30
Helium (HNT)
-16.1%
$7.71
See Also: How To Get Free NFTs
Why It Matters: Cryptocurrencies dropped sharply in line with stocks, which crashed on inflation worries and worse-than-expected retail earnings Wednesday.
The Dow closed more than 1,100 points lower or 3.6% to 31,490.07 on Wednesday. The S&P 500 and the Nasdaq ended the day 4% and 4.7% lower respectively.
The yield on the benchmark 10-year bond slid below the 3% mark on weak U.S. housing starts number, a harbinger of weakening growth.
GlobalBlock analyst Marcus Sotiriou said it is unclear what the rate hikes will look like after July. “The market believes there is a 4.5% chance of no more 50 basis point hikes after July and a …
Full story available on Benzinga.com