ISLAMABAD: The cryptocurrency market witnessed a bloodbath on Thursday following the US Federal Reserve’s decision to pause the rate hike at 5.25 percent for the first time since March 2022, with the market cap losing 4.2 percent to reach $1.06 trillion. As of 1245 hours GMT, Bitcoin (BTC), the world’s most valued token, went down to $24,920 with a decrease of 4.1 percent in the last 24 hours. The market capitalisation of the biggest crypto has fallen to $483.5 billion with this decrease. Bitcoin has been 5.8 percent down in the past seven days. Similarly, Ether (ETH), the world’s second-largest cryptocurrency by market capitalisation, bleeded 6.2 percent to reach $1,636. With this decrease in price, the market capitalisation of ETH has reached $196.7 billion. ETH has been 11.3 percent down in the past seven days. Following suit, Binance Coin (BNB) dipped by 6.5 percent to reach $232. TLTP
With this decrease in price, the market capitalisation of BNB has reached $36.2 billion. BNB has shed 12.2 percent of its value during the last seven days.
Likewise, Ripple (XRP) price dipped 6 percent to reach $0.478. The market capitalisation of XRP stands at $24.9 billion with this decrease. XRP has shed 8 percent of its value during the last seven days.
Similarly, Cardano (ADA) price dived down 6.5 percent to reach $0.258. Its market capitalisation has reached $9.06 billion with this decrease. ADA has shed 21 percent of its value in the past seven days.
Other popular altcoins including Dogecoin (DOGE), Litecoin (LTC) and Solana (SOL) saw bloodbath in prices across the board. Trust Wallet Token (TWT) managed to become the top gainer, with a 24-hour jump of over 8 percent. Curve Dao Token (CRV), on the other hand, became the biggest loser, with a 24-hour loss of over 11 percent.
