Top 10 cryptos decline, except Matic, as debt ceiling negotiations erode risk appetite
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Bitcoin and Ether fell during afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, excluding Polygon’s Matic token.
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Top cryptos in the red as risk appetite remains low
Bitcoin fell 1.93% to US$26,214 in the 24 hours to 4:30 p.m. in Hong Kong, after declining below the US$27,000 psychological level yesterday. Ether also fell below a key psychological level, dropping 1.69% to US$1,785.
“Regulatory uncertainty (leading to large market makers exiting the crypto business), the ongoing banking crisis due to the high-interest rate environment, and the debate regarding the debt ceiling are causing investors to take on less risk,” Tom Wan, a research analyst at 21.co, the parent company of 21Shares, an issuer of crypto exchange-traded products, wrote in an email to Forkast.
Cardano’s ADA token sustained the biggest loss, falling 2.5% to US$0.3576. Polygon’s Matic token was the only one in the green, gaining 0.96% to US$0.88.
The BNB token fell 1.02% to US$305, maintaining the US$300 psychological level, following a Reuters report alleging that Binance commingled customer funds in 2020 and 2021, citing three unnamed sources.
Ethereum NFT sales rise for second consecutive day
![Top 10 cryptos decline, except Matic, as debt ceiling negotiations erode risk appetite 2 Two Bored Apes layerd in front of raining ApeCoins](https://forkast.news/wp-content/uploads/2022/05/Monkey-wrench-in-Ethereum-1260x659.png)
The Forkast 500 NFT index fell 0.7% to 3,354.73 points in the 24 hours to 4:30 p.m. in Hong Kong and lost 1.01% during the week.
Ethereum’s 24-hour NFT sales rose 8.57% to US$16.6 million, gaining for a second consecutive day, along with the Forkast ETH NFT Composite that rose 0.22% to 1,132.71 points. Sales for the largest Ethereum-based collection, the Bored Ape Yacht Club, increased 2.72% to 1.9 million. 24-hour sales for Milady Maker rose 86.64% to US$994,991 and sales for DeGods strengthened 45.25% to US$703,000.
NFT sales on Bitcoin lost momentum, falling 37.11% to US$1.8 million, as 24-hour sales for Bitcoin Fros fell 40.32% to US$188,735, according to CryptoSlam.