September 29, 2022

The cost of BTC and ETH fell again

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Analysts noted the fall in the prices of the leading cryptocurrencies – Bitcoin (BTC) and Ethereum (ETH) – over the past day, from August 17 to 18, 2022. The specialists stressed that this is due to the public’s negative expectations regarding the future actions of the Federal Reserve System (Fed) in the fight against rising inflation, as well as the fall in quotations of major indices in traditional financial markets.

So, experts noted: bitcoin fell by 1.3% per day, and ethereum lost 1.95% in price over the same period. As of 13:00 Moscow time, BTC was trading at $23,527 and ETH at $1,852. Leading indices on traditional exchanges also lost in performance. The S&P 500 is down 0.72%, the Dow Jones is down 0.51% and the Nasdaq 100 is down 1.21% in 24 hours.

Experts noted that the capitalization of the flagship cryptocurrency was again below $450 billion and amounted to $449.25 billion. Trading volumes per day were $26.44 billion. As for Ethereum, the total supply of coins fell to $225.76 billion, and traders provided transactions in in the amount of $17.6 billion.

The most unprofitable of the top 10 cryptocurrencies was Solana (SOL), which has recently shown increased volatility. Its rate fell by 4.31%. The asset was trading at $41.23, and its capitalization was $14.29 billion.

Huobi Token fell the most among the top 100 digital currencies, dropping to 65th place in the ranking with $710.98 billion. Its price fell to $4.64, or 10.35%, over the past 24 hours. Trading participants provided transaction volumes of $20.5 million.

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