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The moves of the US Federal Reserve turn into a severe shock to digital currencies
Khaled Al-Minshawi is a journalist
Saturday 7 May 2022 9:10
The Federal Reserve's decision to raise the interest rate by about 50 basis points caused investors to panic (AFP)
The moves of the American bank caused a severe shock to the digital currencies, which pushed the market to record weekly losses of more than 130 thousand dollars. The decision of the Federal Reserve (the US central bank) to raise the interest rate by about 50 basis points caused panic among investors at the short-term level.
Despite the bleeding losses suffered by the “ Bitcoin ” currency , some investors who support long-term investment are holding on to the famous Bitcoin, amid hopes of a record rise expected during the coming period.
In contrast to the recent moves on the US interest , 46 European companies and institutions working in the field of "crypto" have asked the finance ministers of 27 European countries to ease some regulatory requirements for the cryptocurrency industry. Forty-six European crypto companies and institutions have sent a letter to 27 EU finance ministers regarding disclosure requirements for crypto transactions, Reuters reported this week. Companies and organizations have also asked EU policy makers to ensure that their regulations do not go beyond existing rules that are in line with standards set by the Financial Action Task Force.
Bitcoin at $36,000
In terms of trading, during the last week’s trading, the combined market value of cryptocurrencies decreased by 7.3%, losing about $130.5 billion, after their total market value declined from $1787.4 billion in trading last Sunday, to about $1656.9 billion in Saturday’s trading.
At the forefront of the losing digital currencies came the "Bitcoin" currency, and during the past hours, the most powerful and widespread currency in the cryptocurrency market fell by 1.2 percent, compared to weekly losses of 6.7 percent, to be traded Saturday at the level of $ 36061. The highest level reached by the price of Bitcoin was on November 10, when it recorded $68,992.
Its total market value also fell to the level of $686.3 billion, accounting for about 41.42% of the total combined market share of the cryptocurrencies currently being traded.
The "Ethereum" currency, which ranked second in the list of the largest cryptocurrencies by market value, recorded losses during the past hours by 1.7 percent, compared to a weekly decline of 4.2 percent, to settle its price in Saturday's trading at the level of 2698 dollars. Its total market value also fell to the level of $325.6 billion, acquiring about 19.56 percent of the total market.
The "Tezer" currency came in third place, after its price stabilized at the level of $1. It also recorded a total market value of 83.23 billion dollars, acquiring a total market share of 5.02 percent.
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While the “BNP” currency ranked fourth among the largest cryptocurrencies by market value, the currency recorded gains during the past hours by 0.5 percent, compared to weekly losses of 3.3 percent, to settle its price on Saturday at the level of 379.93 dollars. Its combined market value also fell to the level of $62.033 billion, with this figure taking a market share of 3.74 percent of the total value of the currencies that are currently being traded.
The "USD" currency came in fifth place, after its price stabilized at the level of 1 dollar. While its total market value stabilized at the level of 48.8 billion dollars, acquiring a market share of 2.94 percent.
Violent losses chasing "Solana"
The "X-Ripple" currency, which ranked sixth among the top 10 digital currencies by market value, recorded losses during the last week's trading of 1.4 percent, compared to an increase of 0.8 percent during the past hours, to settle its price on Saturday at the level of $0.602. . Its combined market value also fell to the level of $29.14 billion, taking a market share of 1.75 percent.
As for the "Solana" currency, which ranked seventh among the top 10 digital currencies in terms of market capitalization, it recorded losses during the last week's trading of 12.8 percent, compared to a decline during the past hours by 3 percent, to settle its price in Saturday's trading at the level of $81.99. Its combined market value also fell to the level of $27.44 billion, taking a market share of 1.65%.
The "Terra" currency came in eighth place, and recorded gains during the last week's trading by 8.8 percent, with a decline of 5.8 percent during the past hours, to settle its price in trading on Saturday, at the level of $77.67. Its combined market value also fell to the level of $26.6 billion, taking a market share of 1.6 percent.
While the "Cadrano" currency came in the ninth place, it recorded losses during the last week's trading by 2.8 percent, with a decline of 1 percent during the past hours, to settle in its last trading, at the level of $0.783. Its total market value also fell to the level of $26.5 billion, taking a market share of 1.59 percent of the total value of the currencies that are currently being traded.
The “Terra UST” coin ranked tenth among the top 10 digital currencies in terms of market capitalization, and while the price of the coin settled at the level of $1, its combined market value stabilized at $18.74 billion, acquiring a market share of 1.13%. .
https://www.independentarabia.com/node/328806/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%B1%D9%82%D9%85%D9%8A%D8%A9/%D8%AA%D8%AD%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D9%81%D9%8A%D8%AF%D8%B1%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A-%D8%AA%D8%AA%D8%AD%D9%88%D9%84-%D8%A5%D9%84%D9%89-%D8%B5%D8%AF%D9%85%D8%A9-%D9%82%D8%A7%D8%B3%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9
130.5 billion dollars in losses... and "Bitcoin" at 36 thousand dollars
Khaled Al-Minshawi is a journalist
Saturday 7 May 2022 9:10
The Federal Reserve's decision to raise the interest rate by about 50 basis points caused investors to panic (AFP)
The moves of the American bank caused a severe shock to the digital currencies, which pushed the market to record weekly losses of more than 130 thousand dollars. The decision of the Federal Reserve (the US central bank) to raise the interest rate by about 50 basis points caused panic among investors at the short-term level.
Despite the bleeding losses suffered by the “ Bitcoin ” currency , some investors who support long-term investment are holding on to the famous Bitcoin, amid hopes of a record rise expected during the coming period.
In contrast to the recent moves on the US interest , 46 European companies and institutions working in the field of "crypto" have asked the finance ministers of 27 European countries to ease some regulatory requirements for the cryptocurrency industry. Forty-six European crypto companies and institutions have sent a letter to 27 EU finance ministers regarding disclosure requirements for crypto transactions, Reuters reported this week. Companies and organizations have also asked EU policy makers to ensure that their regulations do not go beyond existing rules that are in line with standards set by the Financial Action Task Force.
Bitcoin at $36,000
In terms of trading, during the last week’s trading, the combined market value of cryptocurrencies decreased by 7.3%, losing about $130.5 billion, after their total market value declined from $1787.4 billion in trading last Sunday, to about $1656.9 billion in Saturday’s trading.
At the forefront of the losing digital currencies came the "Bitcoin" currency, and during the past hours, the most powerful and widespread currency in the cryptocurrency market fell by 1.2 percent, compared to weekly losses of 6.7 percent, to be traded Saturday at the level of $ 36061. The highest level reached by the price of Bitcoin was on November 10, when it recorded $68,992.
Its total market value also fell to the level of $686.3 billion, accounting for about 41.42% of the total combined market share of the cryptocurrencies currently being traded.
The "Ethereum" currency, which ranked second in the list of the largest cryptocurrencies by market value, recorded losses during the past hours by 1.7 percent, compared to a weekly decline of 4.2 percent, to settle its price in Saturday's trading at the level of 2698 dollars. Its total market value also fell to the level of $325.6 billion, acquiring about 19.56 percent of the total market.
The "Tezer" currency came in third place, after its price stabilized at the level of $1. It also recorded a total market value of 83.23 billion dollars, acquiring a total market share of 5.02 percent.
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The US Federal Reserve is heading towards a stable growth scenario
The US Federal Reserve raises interest rates for the first time since 2018
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European movements surprise digital currencies and push them to bleed
While the “BNP” currency ranked fourth among the largest cryptocurrencies by market value, the currency recorded gains during the past hours by 0.5 percent, compared to weekly losses of 3.3 percent, to settle its price on Saturday at the level of 379.93 dollars. Its combined market value also fell to the level of $62.033 billion, with this figure taking a market share of 3.74 percent of the total value of the currencies that are currently being traded.
The "USD" currency came in fifth place, after its price stabilized at the level of 1 dollar. While its total market value stabilized at the level of 48.8 billion dollars, acquiring a market share of 2.94 percent.
Violent losses chasing "Solana"
The "X-Ripple" currency, which ranked sixth among the top 10 digital currencies by market value, recorded losses during the last week's trading of 1.4 percent, compared to an increase of 0.8 percent during the past hours, to settle its price on Saturday at the level of $0.602. . Its combined market value also fell to the level of $29.14 billion, taking a market share of 1.75 percent.
As for the "Solana" currency, which ranked seventh among the top 10 digital currencies in terms of market capitalization, it recorded losses during the last week's trading of 12.8 percent, compared to a decline during the past hours by 3 percent, to settle its price in Saturday's trading at the level of $81.99. Its combined market value also fell to the level of $27.44 billion, taking a market share of 1.65%.
The "Terra" currency came in eighth place, and recorded gains during the last week's trading by 8.8 percent, with a decline of 5.8 percent during the past hours, to settle its price in trading on Saturday, at the level of $77.67. Its combined market value also fell to the level of $26.6 billion, taking a market share of 1.6 percent.
While the "Cadrano" currency came in the ninth place, it recorded losses during the last week's trading by 2.8 percent, with a decline of 1 percent during the past hours, to settle in its last trading, at the level of $0.783. Its total market value also fell to the level of $26.5 billion, taking a market share of 1.59 percent of the total value of the currencies that are currently being traded.
The “Terra UST” coin ranked tenth among the top 10 digital currencies in terms of market capitalization, and while the price of the coin settled at the level of $1, its combined market value stabilized at $18.74 billion, acquiring a market share of 1.13%. .
https://www.independentarabia.com/node/328806/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF/%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%B1%D9%82%D9%85%D9%8A%D8%A9/%D8%AA%D8%AD%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D9%81%D9%8A%D8%AF%D8%B1%D8%A7%D9%84%D9%8A-%D8%A7%D9%84%D8%A3%D9%85%D9%8A%D8%B1%D9%83%D9%8A-%D8%AA%D8%AA%D8%AD%D9%88%D9%84-%D8%A5%D9%84%D9%89-%D8%B5%D8%AF%D9%85%D8%A9-%D9%82%D8%A7%D8%B3%D9%8A%D8%A9-%D9%84%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B1%D9%82%D9%85%D9%8A%D8%A9
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