Crypto Market Falls As US Inflation Data Hits 40-Year High

Bitcoin fell 3.3 per cent, while Ethereum’s price fell by 5.6 per cent. Solana’s price decreased by 7.7 per cent, while Huobi Token was the top gainer. It gained 12.1 per cent to $6.9
Crypto Market Falls As US Inflation Data Hits 40-Year High

Cryptocurrency prices were trading in the red on Thursday evening. Bitcoin (BTC) and Ethereum (ETH) fell along with other altcoins. Meme coins, such as Dogecoin and Shiba Inu were also trading with loss.

Today’s most trending crypto was Manchester Fan City Token, which is a football fan token.

The global crypto market cap stood at $892.7 billion. The total crypto market volume increased by 16.7 per cent to $56.1 billion in the last 24 hours, according to data collected from Coinmarketcap.com at 6:15 pm.

Today’s top gainer was Huobi Token; it was up by 12.01 per cent to $6.9. The top loser was STEPN, which was trading at $0.55 with 12.5 per cent fall in the last 24 hours as of Thursday evening.

Cryptocurrency Prices

Bitcoin: BTC gained 3.3 per cent to $18,401 in the last 24 hours.

BTC’s trade was stable. At 3:50 pm, the price of BTC fell sharply from $18,974 to $18,650. At 4:05 PM though, its trading volume increased 11.7 per cent to $30.3 billion.

Ethereum: The price of Ethereum fell by 5.6 per cent to $1,221 in the last 24 hours as of Thursday evening. At 3:50 pm, it fell sharply from $1,273 to $1,232. Its trading volume, however, increased by 38.7 per cent to $11.4 billion.

Other Altcoins: Solana’s (SOL) price was down by 7.7 per cent to $28.6 as on October 13, 2022.

XRP was up by 5.5 per cent to $0.46, and its 24-hour trading volume was up by 20.9 per cent to $2.08 billion.

Cardano (ADA) fell by 8.27 per cent to $0.35. Cardano’s 24-hour trading volume increased to $98.9 million.

Meme Coins

Dogecoin (DOGE) fell by 5.9 per cent to $0.056. Its 24-hour trading volume was up by 36.5 per cent to $316.5 million.

Shiba Inu was down by 7.3 per cent to $0.0000094.

Decentralised Finance (DeFi)

Avalanche (AVAX) was down by 6.8 per cent to $14.8, and its 24-hour trading volume was up by 86.9 per cent to $260.8 million.

Aave (AAVE) was trading with a loss of 7.7 per cent. Its 24-hour trading volume was up by 33.1 per cent to $109.4 million.

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