Cryptocurrency Prices Today: Following the 50 basis points (bps) rate hike announced by the Federal Reserve on Wednesday, the cryptocurrency market followed a bearish pattern today (Thursday). The global crypto market cap dropped 1.12% to $860.80 billion.
Total crypto market volume over the past 24 hours also dropped 12.90% to $45.95 billion. The price of crypto majors Bitcoin and Ethereum fell by 0.34% and 2.03% respectively in the past 24 hours. Bitcoin price switched hands at $17,720.04 while Ethereum was spotted at $1,292.83 per token.
Top Crypto Losers Today, December 15:
The biggest crypto losers dragging the crypto market down today were Neutrino USD (USDN), Stacks (STX), Flow (FLOW), and Chiliz (CHZ), dropping 10.64%, 7.50%, 5.32 % and 4.22%.
Dogecoin and Shiba Inu price drop more than 3%:
The price of two popular meme coins, Dogecoin and Shiba Inu, extended yesterday’s gains, dropping 3.84% and 3.03%, respectively, to $0.08764 and $0.0000089.
Neutrino USD (USDN) price today:
Today, the USD price of Neutrino dropped as much as 10.84% to trade at USD $0.642891 with a 24-hour trading volume of USD $123,624. With a live market cap of USD $437,337,149, Neutrino’s current CoinMarketCap ranking is USD (USDN) 74.
Stacks (STX) Price Today:
Stacks price today was USD $0.266682, down 7.35%, with a 24-hour trading volume of USD $20,860,326. With a live market cap of $359,687, Stacks’ current ranking is 82, according to CoinMarketCap data. There are a maximum of 1,818,000,000 STX coins in circulation.
FLOW Price today:
The live Flow price at the time of writing is USD $0.903859 with a 24-hour trading volume of USD $29,380,345. Power is down 5.23% in the last 24 hours. With a live market cap of USD $936,578,857, FLOW’s CoinMarketCap ranking is 43.
US Equity Performance:
The three major US indices closed lower during overnight trading on Wall Street. The Dow Jones Industrial Average index fell 0.42% to 33,966.35 at the close of trading. The S&P500 index fell 0.61% to 3,995.32 points, while the technology-heavy Nasdaq Composite Index fell 0.76% to 11,170.89.
Fed rate hikes this year:
This year, the Federal Reserve has raised interest rates seven times in 2022. Yesterday’s rate hike of 50 basis points came after the US Federal Reserve hiked rates by 75 basis points in four consecutive meetings at its previous meetings. Investors are now looking at the Thursday meetings of the Bank of England and the European Central Bank (ECB), where a rate hike of 50 basis points is expected.
Markets have not welcomed the latest hike as the central bank raised its projection of final interest rates from 4.6% to 5.1%. Federal Chairman Jerome Powell has said there is more work ahead of raising interest rates and overcoming inflation.
Asian equities are opening lower today as there are indications that interest rates will rise higher than expected next year.
Priyanka is currently covering the latest developments in the crypto market, NFTs, Metaverse, ICOs and Blockchain. She enjoys writing research-based, informative articles for investors, especially those new to the market. She has an MBA and is currently deep into the crypto market. Priyanka studied journalism at the Indian Institute of Mass Communication, New Delhi, and started her career as a journalist for the English daily newspaper ‘The Pioneer’. She has more than five years of experience. During this time she was also associated with political consultancies such as IPAC and worked on governance related issues. Later, Priyanka developed a strong interest in finance, and while completing her MBA, she worked as an analyst at a reputable stock research firm. After discussing global stocks, IPOs, ASX 200, commodities and moving stories in North America, she realized there is much more to discover. It was then that she decided to enter the crypto market.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication is not responsible for your personal financial loss.
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