The crypto market was trading with losses after an announcement of the biggest rate hike since 2007 by the Fed. Almost all major cryptos like Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), others were down trading with losses. However in the meme coin section, Dogecoin (DOGE) was down while Shiba Inu (SHIB) was up trading with gains. BTC was the most trending crypto today.
The crypto market cap fell about 1.3 per cent to $849.8 billion and its trading volume was down by 26.83 per cent to $33.95 billion, according to data from Coinmarketcap.com at 8.50 am.
Today’s top gainer was Celo (CELO); it was up 12 per cent at $0.6005. The top loser was Neutrino USD (USDN), which was trading at $0.5595 with a loss of 12.12 per cent in the last 24 hours to Friday morning.
According to Parth Chaturvedi, crypto ecosystem lead, CoinSwitch, a crypto exchange, "The main reason behind the market's buoyancy is the improvement in macro conditions, with monthly US inflation rising below expectations at 7.1 per cent and a subsequent slowdown in the quantum of the Fed's interest rate increase to 50 bps."
Cryptocurrency Prices
Bitcoin: BTC fell 1.77 per cent to $17,414.26.
BTC was trading with losses for most of December 15 and with each passing hour a fresh low price point was being created. However the moment which resulted in the biggest drop in value of BTC during the day trading occurred around 6.35 pm in the evening.
The lowest price for BTC was $17,322.59. BTC’s trading volume was down by 24.37 per cent at $19,925,328,881.
Ethereum: Ethereum’s (ETH) price fell 1.61 per cent to $1,271.18 in the last 24 hours to Friday morning.
ETH’s trade on December 15 was highly volatile and was also trading with losses for most of the time barring a few moments. Like BTC, ETH too continued to create a new low price point with each passing hour and the trading volume of ETH was down by a significant margin too.
The lowest price for ETH was $1,262.69. ETH’s trading volume was down by 34.85 per cent at $5,40,90,60,381 .
Other Altcoins: Solana’s (SOL) price was up by 0.12 per cent at $14.13 today.
Ripple (XRP) was down by 0.74 per cent at $0.3779 and its 24-hour trading volume was $682.93 million.
Cardano (ADA) was down by 1.25 per cent to $0.3005. Cardano’s 24-hour trading volume was down by 20.76 per cent to $205,495,863.
Binance (BNB) was down by 1 per cent to $262.46. Its 24-hour trading volume was down by 34.79 per cent at $688,397,023 .
Meme Coins
Dogecoin fell 0.76 per cent at $0.08648. Its 24-hour trading volume was down by 37.8 per cent at $367,138,871.
Shiba Inu was up by 1.29 per cent to $0.000008963.
Decentralised Finance (DeFi)
Yearn.Finance (YFI) was down by 1.24 per cent to $6,303.46. Its 24-hour trading volume was down by 29.1 per cent at $14,047,175.
Avalanche (AVAX) was down by 3.38 per cent at $13.27 and its 24-hour trading volume was down by 38.71 per cent at $137,705,805.
Aave (AAVE) was trading with a loss of 2.02 per cent at $60.99 and its 24-hour trading volume was at $14.09 million.
