Crypto Market Sees Red Amid Latest FOMC Minutes
The crypto market saw red after the latest FOMC minutes, leading to cautious trading.
The US Federal Reserve officials expressed caution and pledged a vigilant approach to inflation control.
Bitcoin, Ethereum, and BNB prices experienced declines in the last 24 hours.
Other major cryptocurrencies like XRP, Solana, and Cardano also saw a slump in prices.
The meme coin segment was also affected, with Dogecoin and Shiba Inu prices falling.
The overall crypto market cap plunged while the market’s fear and greed index slipped.
Pepe Coin (PEPE) Slips 4%
The Pepe Coin price fell due to bearish sentiment, losing nearly 7% over the last seven days.
PancakeSwap (CAKE) Falls 11%
PancakeSwap was among the top percentage losers on November 22, reflecting the downturn sentiment in the broader crypto market.
FTX Token (FTT) Gains 14%
The FTX Token has gained traction in the market, adding 13.69% to trade at $3.55 during writing, while its trading volume from yesterday skyrocketed 311.01% to $241.75 million.
Klaytn (KLAY) Soars 6%
Klaytn surged 6.05% to $0.1929 as of writing on Wednesday, while its volume soared 80.64% to $48.02 million from yesterday.
Hot Take
The latest FOMC minutes have impacted the crypto market, driving a cautious approach among traders. The top cryptocurrencies saw declines, while others experienced percentage falls and gains. It’s important to monitor these shifts in the market as they can shape future trading decisions and overall market sentiment.
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