Crypto Costs Stay within the Pink, Shina Inu Drops Over 15% – Blockchain Information

With the new week today, cryptocurrency prices have remained in the red.

Among tokens, Dogecoin’s price traded about 7.80% lower at $0.05685, while Shiba Inu fell more than 10% to $0.0000107. Several tokens have also declined, including XRP, Uniswap, Solana, Polygon, Avalanche, Binance USD, Polkadot, Litecoin, Apecoin, Cardano, Stellar, Chainlink, Tron, among others.

Coins like XRP, Polkadot, and other smaller tokens saw heavier losses and traded deeper in the red.

The XRP token has also suffered a sharp drop. The token associated with Ripple Labs Inc. lost as much as 13.5% in an ongoing court case. According to Bloomberg, the drop came as the company and the SEC preferred an immediate ruling in a court case over whether Ripple was “reckless” in claiming that XRP is not a regulated security.

In the last 24 hours, the market value of digital tokens has fallen by more than $70 billion to $941 billion. In 2021, according to data from CoinGecko, the market value was $3 trillion.

The declines in major crypto assets are still subject to macroeconomic metrics ranging from the disappointing CPI, the decline in the benchmark S&P 500 to the prospect of a global wave of monetary tightening this week.

Investors brace for volatility as the Federal Reserve is expected to announce rate hikes this week to combat price pressures.

The recent rise and fall in Bitcoin price over the past few days is in line with market participants’ expectations. Cryptocurrency markets are likely to be volatile until the macroeconomic situation settles down to a more predictable pace.

– assisted by Aaron Limbu –

Image source: Shutterstock


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