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

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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

Also Read: Salman Khan-backed cryp­tocur­ren­cy down 90% from all-time high! What went wrong? — BusinessToday

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