Top 4 Crypto Losers Today: Bitcoin Stacks, Flow and Neutrino USD
Today’s cryptocurrency prices: The Federal Reserve announced a 50 basis point (bps) increase in interest rates on Wednesday. The cryptocurrency market followed a bearish trend today (Thursday). Global crypto market capitalization fell 1.12%, to $860.80B.
The total volume of crypto market traded in the last 24 hours fell by 12.90%, to $45.95 Billion. In the last 24 hours, the price of crypto majors Bitcoin (and Ethereum) was down by 0.34% and 2.03% respectively. Bitcoin traded at USD$17720.04, while Ethereum traded at USD$1,292.83 each token.
The top crypto losers today were Neutrino USD ($USDN), Stacks(STX), Flow [FLOW] and Chiliz (CHZ), which brought down the crypto market by 10.64%, 7.50% and 5.32%, respectively.
Dogecoin and Shiba Inu prices have fallen by more than 3%
Two popular meme coins, Dogecoin, and Shiba Inu, saw their prices drop yesterday by 3.84%, 3.03%, and $0.08764 respectively.
Neutrino USD (USDN) price today:
Today Neutrino’s USD traded at USD$0.642891, with a 24-hour trading volume USD$123,624. The current CoinMarketCap ranking for Neutrino USD is 74.
Today’s price for Stacks (STX).
Today’s Stacks price was USD$0.266682, a drop of 7.35%. There was a 24-hour trading volume USD$20,860.326. According to CoinMarketCap data, Stacks currently ranks at 82 with a market cap of USD 359 687. It has a maximum circulating stock of 1,818,000,000 STX coin.
Today’s FLOW Price:
At the time of writing, the live Flow price is USD$0.903859, with a 24-hour trading volume USD$29,380,000.345. In the last 24 hours, Flow has fallen 5.23%. The CoinMarketCap ranking for FLOW is 43, with a USD$936,578,857 live market cap.
Performance of US stocks
Overnight trading on Wall Street saw the main US indices close lower. The Dow Jones Industrial Average index dropped 0.42% to 33,966.35 point at the close. S&P500 index fell 0.61% to 3,995.32 points. The tech-heavy Nasdaq Composite Index dropped 0.76% to 11,170.89 point.
Fed rates rise this year
The Federal Reserve raised the interest rates by seven times this year. Yesterday’s 50bps rate increase came after the US central banks raised the rates by 75 base points at four consecutive meetings. Investors are now monitoring the Thursday meetings of Bank of England (ECB), where a 50 bps rate increase is expected.
Markets have not welcomed the central bank’s latest hike. It has increased its projection of the terminal interest rate from 4.6% to 5.1%. Jerome Powell, Federal Chairman, has stated that there is still much work to be done in raising interest rates and reducing inflation. Asian stocks will open lower today because there are indications that the interest rates could rise higher than expected next year.
About the author
The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.