Crypto Update Following Release Of FOMC Minutes Earlier This Week

One of the biggest events that happened in the crypto industry during the week was the release of the FOMC minutes that highlighted the risk of rate hikes having a ‘larger-than-expected effect on economic growth.

The effects of this were seen in the markets on Friday where the crypto market cap slid to a low of $916 billion before closing the day on $930 billion. The NASDAQ was also struggling a bit but was ultimately to eke out a 0.12% gain.

Things did not go much better for cryptos. Cardano (ADA) and Dogecoin (DOGE) struggled and were down 2.51% and 2.07% respectively. ETH also struggled and was down 1.94%.

BTC slipped by with a 0.09% gain and BNB was down 0.33% while SOL and  XRP were also down 0.90% and 0.88% respectively.

Things for Quant went a bit better after a 13% rally, according to CoinMarketCap. Friday was also a bit better for MATIC and 1INCH.

This morning, things seem to be going better for DOGE and ADA with DOGE being up 0.05% and ADA being up about 0.41%.

For the rest of the top crypto’s things are still looking red. BTC, BNB, SOL and XRP are down 0.11%, 0.12%, 0.76% and 0.06% respectively.

Two of the front runners from yesterday, MATIC and 1INCH, are also in the red today with MATIC being down 0.79% and 1INCH being down 2.15%.

The crypto market’s market cap stands at about $958 billion today.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies