Bitcoin, Ethereum and major coins traded lower on Wednesday evening as the global cryptocurrency market cap slipped 2.1% to $887.6 billion at press time.
Price Performance Of Major Coins
Coin
24-hour
7-day
Price
Bitcoin (CRYPTO: BTC)
-2.1%
-11.1%
$20,116.83
Ethereum (CRYPTO: ETH)
-4.7%
-14.7%
$1,061.83
Dogecoin (CRYPTO: DOGE)
-2.8%
1.3%
$0.06
Top 24-Hour Gainers (Data via CoinMarketCap)
Cryptocurrency
24-Hour % Change (+/-)
Price
Polygon (MATIC)
+14.9%
$0.47
Uniswap (UNI)
+9.6%
$5.11
Amp (AMP)
+6.2%
$0.0095
See Also: How To Get Free NFTs
Why It Matters: U.S. Federal Reserve Chair Jerome Powell appeared before Congress on Wednesday and acknowledged the hardship inflation is causing.
“We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so,” said Powell.
Risk assets moved lower as markets grappled with recession fears. At press time, Bitcoin and Ethereum were seen teetering near psychologically important marks of $20,000 and $1,000 respectively. S&P 500 and Nasdaq futures declined 0.3% and 0.4%, respectively.
“The stock market rally faded as Powell acknowledged that they need …
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