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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Cryptocurrencies lose 40 billion in minutes

rocky
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Cryptocurrencies lose 40 billion in minutes Empty Cryptocurrencies lose 40 billion in minutes

Post by rocky Mon 26 Sep 2022, 5:19 am

Cryptocurrencies lose 40 billion in minutes

Cryptocurrencies lose 40 billion in minutes 4415



Market
   




Economy News-Baghdad
 The cryptocurrency market witnessed another new decline, which pushed it to a new crash, bringing the total market value of cryptocurrencies down again to $916 billion.
The largest cryptocurrency Bitcoin has fallen below the $19,000 mark again, and Ethereum continues to drop and is very close to dropping below the $13,000 mark.
Cardano is one of the biggest losers in the collapse of the digital currency, breaking its upward movement and falling to $0.446, coinciding with the fall of all the major billion coins in the crypto market now.
Why did the market crash?
The crypto market is collapsing as the US dollar continues to show brute strength, with the US Dollar Index rising another 0.64% to break above the 114 levels.
As a result, US bond yields rose and the stock market plummeted, and at the end of last week the S&P 500 was down 1.72% and the Nasdaq was down 1.66%.
The cryptocurrency market is closely related to the broader general market for US stocks, and is specifically linked to the technology-oriented NASDAQ 100 Index.
The strength of the dollar is destroying other global currencies, including the British pound and the euro, as well as causing damage to the market for risky assets such as the collapse of cryptocurrencies.
Continuing to stress
Meanwhile, the Fed continues its hawkish stance against inflation, as its tightening is the biggest reason for the dollar's strength, while global economies are also preparing for a recession, and in turn, the Fed continues to play down the slowdown in the economy.
New statements from the Federal Reserve Chairman in Atlanta sparked a storm in the markets regarding the Fed's continuing to raise interest rates to curb inflation.
The statements of Rafael Bostik, President of the Federal Reserve Bank of Atlanta, concluded that the Fed believes that the US economy will not fall into a recession even if the pain increases and some people lose their jobs.
Bostick believes that the Fed will succeed in lowering interest rates and that the markets will absorb the higher interest until the goal is achieved.
panic intensifies
And while the cryptocurrency market is still trapped by the Crypto Fear & Greed Index, the sentiment has only worsened over the past few hours.
The Crypto Fear & Greed Index dropped three new points during Monday's trading, to fall to 21 points, compared to 24 points during Sunday's weekend trading.
market now
Cryptocurrencies lost more than $40 billion in a few hours, bringing the market value of the crypto community down from levels above $950 billion to levels below $916 billion.
Bitcoin, the largest digital currency, is trading near the levels of $ 18.5 thousand, down more than 1.5%, while its market value fell to $362 billion, but it is still rising 2.6% within a week.
ETH/USD fell below the $1,300 levels, hovering around $1,290, down around 3% while its market cap fell to sub-$159 billion.
Binance Coin fell 1.3% to levels of $274, Ripple fell 4% to levels of $0.47, and Cardano fell more than 4% to levels of $0.44.
Solana currency fell 5% to levels near $ 32, while Dogecoin fell 4% at levels of $ 0.06, and polka dot fell 2% to levels of $ 6.27.
Polygon MATIC/USD 3% fell to levels of 0.73 dollars, the Shiba Inu fell to levels of 0.000011 dollars, Avalanche fell 3% to levels below 18, and TRX/USD fell 2% to levels of 0.059 dollars.
Urgent: Coin Mask..Exciting moves and deals
The article does not express a recommendation or nomination, but merely a monitoring of market fluctuations, as trading in digital currencies involves high risks, including the risk of losing some or all of the investment amount, knowing that it is not completely subject to financial authorities and markets.



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Added 09/26/2022 - 12:32 PM
Update 09/26/2022 - 1:16 PM


https://economy-news.net/content.php?id=29899

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