Ethereum is below $1,900, Bitcoin is approaching $30,500, while Polygon and BNB are up 9%
The price of Bitcoin increased by roughly 1%, but it still trades below the $30,500 threshold. The price of Ethereum also increased by 1%, but it is still some distance from the $1,900 level. After the US Fed hinted that the cycle of rate hikes was about to come to an end, Bitcoin and other popular crypto coins rose on Monday. Bitcoin still exhibits positive decentralisation trends despite its liquidity problems. The crypto market, however, still has liquidity issues. The largest cryptocurrency token, Bitcoin, gained a little bit of shine on Tuesday but still traded below the $30,500 level. Although Ethereum, its biggest rival, also gained 1% along similar lines, $1,900 levels remained far away. The blue-chip tokens, however, underperformed the price movement in other cryptocurrencies. In the past day, there has been a small upward price movement in the cryptocurrency market. The fear and greed index for cryptocurrencies increased by one point as well, moving into the greedy region with a score of 57/100. In terms of market capitalization, the top 10 cryptocurrencies are now trading in the green. Traders have finally found some relief in Polygon following a recent correction in altcoins. The project's native token, MATIC, gained about 10% in the previous day and hit a new high for the month, making up for virtually all of the losses it suffered after Robinhood announced it would be delisted. On Wednesday, all of the leading crypto tokens were trading upward with the exception of Tron. BNB gained only approximately 6% whereas Polygon increased by over 9%. Litecoin increased by 3%, while Polkadot and XRP each saw gains of 2% in the morning. Tron was the lone loser and was only slightly down. The market capitalization of all cryptocurrencies increased in trading, reaching the $1.19 trillion level despite falling more than 1% in the previous day. The total trading volume did, however, increase by more than 46% to $32.09 billion. Later this week, investors will be intently examining inflation data and jobless claims data for hints regarding the trajectory of interest rates. The Fed might be pushed to raise rates even more quickly if inflation keeps increasing. But if inflation starts to decline, the Fed might be able to scale back its rate increases.
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