Cryptocurrency prices today: Following the 50 basis points (bps) rise in interest rates announced by the Federal Reserve on Wednesday, the cryptocurrency market followed a bearish pattern today (Thursday). The global crypto market capitalization fell 1.12% to $860.80B.
The total crypto market volume over the last 24 hours also declined by 12.90% to $45.95 billion. The price of crypto majors Bitcoin and Ethereum was down 0.34% and 2.03% in the last 24 hours. Bitcoin price swapped hands at USD$17,720.04 while Ethereum was spotted trading at USD$1,292.83 per token.
Top Crypto losers today, December 15:
Top crypto losers which dragged the crypto market down today included Neutrino USD (USDN), Stacks (STX), Flow (FLOW), and Chiliz (CHZ), down 10.64%, 7.50%, 5.32%, and 4.22%.
Dogecoin and Shiba Inu price slump over 3%:
The price of two popular meme coins, Dogecoin and Shiba Inu, extended yesterday’s gains and were down 3.84% and 3.03% at $0.08764 and $0.0000089, respectively.
Neutrino USD (USDN) price today:
Today, Neutrino’s USD price fell as much as 10.84% to trade at USD$0.642891 with a 24-hour trading volume of USD$123,624. With a live market cap of USD$437,337,149, the current CoinMarketCap ranking of Neutrino USD (USDN) is 74.
Stacks (STX) Price today:
Stacks price today was USD$0.266682, down 7.35%, with a 24-hour trading volume of USD$20,860,326. With a live market cap of USD 359,687, the current ranking of Stacks is 82, as per the CoinMarketCap data. It has a maximum circulating supply of 1,818,000,000 STX coins.
FLOW Price today:
The live Flow price at the time of writing is USD$0.903859 with a 24-hour trading volume of USD$29,380,345. Flow is down 5.23% in the last 24 hours. With a live market cap of USD$936,578,857, the CoinMarketCap ranking of FLOW is 43.
Performance of US stocks:
The main three US indices closed lower in the overnight trading on Wall Street. The Dow Jones Industrial Average index fell 0.42% at the close of trade to 33,966.35 points. The S&P500 index declined 0.61%, to 3,995.32 points, while the tech-heavy Nasdaq Composite Index slipped 0.76%, to 11,170.89 points.
Fed rate hikes this year:
This year the Federal Reserve has increased the interest rates seven times in 2022. Yesterday’s 50bps rate hike came after the US central bank raised the rates by 75 basis points at four successive meetings in its earlier meetings. Investors are now watching the Thursday meetings of the Bank of England and the European Central Bank (ECB), where a 50 bps rate hike is anticipated.
The markets have not welcomed the latest hike as the central bank has raised its projection of terminal interest rate to 5.1% from 4.6%. Federal Chairman Jerome Powell has said that there is more work ahead in raising interest rates and vanquishing inflation.
Asian stocks are slated to open lower today as there are indications that interest rates will climb higher than expected next year.