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Increasing inflationary pressures
There are great fears of rising inflation driving both the stock and crypto markets down, dropping the total market capitalization of all cryptocurrencies below $1 trillion, crashed to $969 billion. This a drop of around 200% from its all-time high of approximately $3 trillion last November, during a market bull run that saw Bitcoin reach an all-time high of almost $69,000.
As U.S. inflation data and COVID-19 warning from Beijing roiled global markets, the increasing inflationary pressures are real, and recent earnings by U.S. companies have shown that it has become difficult to pass on that high inflationary pressure.
The fact sheet shows a downward trend impacting the value of cryptocurrencies. The global cryptocurrency market peaked at $2.9 trillion in November 2021, but has faltered this year, losing $1 trillion in value in the last two months alone, as investors ditched riskier assets in the face of high inflation fearing that the interest rate raised by central banks will hamper growth.
Ethereum, the world’s second-largest cryptocurrency, lost more than 16% in value over the day and is now trading at $1,190, while its market cap has dropped to $147 billion. Other major cryptocurrencies, including Solana, Dogecoin, Tron, and Avalanche, are suffering similar losses.
Almost every cryptocurrency, including Bitcoin, is now worth half or even less than their all-time highs. An expert says, as inflation proves to be an even trickier opponent to beat than expected, Bitcoin and Ether are continuing to get a severe bruising in the ring.
Countries around the globe continue to report high inflation numbers and what appears to be the immediate trigger for this crypto crash is a massive sell-off by investors amid heightened inflation fears.
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CRYPTO NEWS #162 || ETF, OPERA, ICO, TRX, BITTREX, UKRAIN
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TOP 5 UNDERVALUE COINS OF 2018 || यह कॉइन 2018 में बना सकते हैं आपको अमीर || MUST WATCH
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Amazing Tron Dance Performed
Watch Amazing Tron Dance Performed With HD Quality.
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Bigg Boss 17 OPENING VOTING Trend | Kaun Hoga Ghar Se Beghar?
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Pilgrim, a vegan skincare brand, has announced that it is launching a lip care range, including lip serums, lip balms, lip scrubs and lip sleeping masks, in a range of fun and deliciously fragrant flavours including bubblegum, blueberry, and peppermint.
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India observes Independence Day with patriotic fervour
Prime Minister Narendra Modi
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You Become What You Think | Change Your Thought Change Your Life
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हमारे नवीनतम वीडियो "आप वही बनते हैं जो आप सोचते हैं" में आपका स्वागत है! ????इस प्रेरणादायक यात्रा में, हम उस शक्तिशाली दर्शन की गहराई में जाते हैं कि हमारे विचार हमारी वास्तविकता को आकार देते हैं। प्रेरक कहानियों, विशेषज्ञों के साक्षात्कार, और व्यावहारिक सुझावों के माध्यम से, हम यह खोजते हैं कि सकारात्मक सोच कैसे आपके जीवन को परिवर्तित कर सकती है।
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न्यूयॉर्क की सड़कों पर मुस्लिमों ने सड़क जाम कर पढ़ी नमाज... || SudarshanNews
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