Barring the US dollar-pegged stablecoins, all top crypto tokens were trading in the red on Friday. Ethereum slumped another 6 per cent, whereas Cardano, Dogecoin and Polygon tumbled more than 3 per cent each.
The global cryptocurrency market cap was trading quite lower at $907.27 billion, dropping more than 2 per cent in the last 24 hours.
However, the total trading volume zoomed almost 33 per cent, close to $90.85 billion.Expert takePrashant Kumar Founder weTrade said that crypto markets were choppy as they reacted to the US Federal Reserve’s decision to hike interest rates by 75 basis points.
Did you Know?Jobs in crypto, blockchain, and NFTs have grown by 804% in India between April 2020 and April 2022 according to a report by IndeedView Details »«The trend also showcases the connection between the global stock markets and crypto markets that are reacting similarly to the interest rate hikes.»Global UpdatesTaki, a web 3.0 social media platform has been launched on the Google Play Store as its active user base has surpassed the half-a-million mark.Read more on economictimes.indiatimes.com