Crypto markets jump after US Fed hikes interest rates; Bitcoin up 10%, Ethereum 16%

The cryptocurrency markets are in green after the US Fed hiked interest rates. The global crypto market cap is at $1.05 trillion as of 8:00 AM IST after rising 7.97 per cent over the last 24 hours, CoinMarketCap data showed.

Bitcoin is up a whopping 10.28 per cent and is trading at $23,335. Ethereum rose by 16.15 per cent and is trading at $1,665.

The USDT Tether showed 0.02 per cent positive change over the last 24 hours and is trading at $1, whereas the USDC stablecoin showed 0.03 per cent uptrend in its value and is also trading at $1.

The BNB token has gone up by 7.85 per cent.

The BinanceUSD stablecoin is positioned as the sixth most valuable cryptocurrency. It showed 0.02 per cent negative change and is trading at $1.

XRP Ripple token is 7.70 per cent up from its value over the last 24 hours, while the ADA token rose 10.82 per cent.

Solana jumped by 11.40 per cent, and memecoin Doge settled as the tenth most valuable token and is up 7.59 per cent.

The first ever stablecoin, DAI, is trading at $0.9991, showing 0.08 per cent positive change in its value.

The DOT token of the Polkadot network is trading at the eleventh spot and showed an upside of 17.16 per cent over the last 24 hours.

Polygon’s MATIC is trading at the thirteenth spot after rising 15.02 per cent.

AVAX token of Avalanche blockchain showed a hike of 13.19 per cent.

Memecoin Shiba Inu rose 8.36 per cent. It is now the fifteenth most valuable cryptocurrency as per market capitalization.

Overall, majority top crypto tokens showed significant upside over the last 24 hours.

Also Read: Dogecoin tumbles! Is Elon Musk’s influence on cryptocurrencies declining? – BusinessToday

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