Crypto Price Today: Bitcoin holds above $26,000; Shiba Inu, Polygon shed over 4%
The speech will provide a chance to give his latest views on whether more policy tightening will be needed to bring down inflation amid surprisingly strong economic growth, or if enough progress on disinflation has been made to hold rates steady.
Other top crypto tokens, BNB (3.5%), XRP (1.6%), Cardano (3.4%), Solana (2.7%), Polygon (4.8%), and Shiba Inu (4.6%) were also trading lower on Tuesday.
Meanwhile, the global cryptocurrency market cap declined 0.76% to around $1.05 trillion.
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View Details»«Traders are currently hovering around $26,000 as they watch upcoming US data and comments from Fed policymakers, including Fed Chairman Jerome Powell's speech on Friday, which could potentially push US government bond yields to new multi-decade highs. This could negatively affect both the crypto and US stock markets,» Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said.
The total volume in DeFi is currently $1.99 billion, 6.98% of the total crypto market 24-hour volume. The volume of all stablecoins is now $27.2 billion, which is 95.69% of the total crypto market 24-hour volume.
The market cap of Bitcoin, the world's largest cryptocurrency, declined to $507 billion. Bitcoin's dominance is currently 48.26%, according to CoinMarketCap. BTC volume in the last 24 hours shot up 40.23% to $12.92 billion.
Bitcoin’s price is just managing to keep up above the $26,000 mark, and the market seems to have found psychological support
