The overall crypto market was bearish, with very few coins in the green as of the time this article was written. Over the last 24 hours, losses were recorded by most of the top 10 cryptos.
Bitcoin was trading at $43,000 as of the writing. Other cryptos fell as well, with Ethereum down by around 1% while Cardano (and XRP) suffered losses of 2% & 3%, respectively.
Bitcoin fell below $42,000 for its first time since March 23, 23. The most popular crypto currency is falling back to the level in which it traded in 2022. Bloomberg reports that this is due to rising interest rates.
Today, the price was $41,918 at Asian hours. Over the past week, it has been falling.
Major cryptos have lost value after the Fed announced a tightening in monetary policy. Surprisingly, last week’s Bitcoin 2022 conference in Miami did not have a positive effect on Bitcoin’s price.
The top 100 were also bearish. Zilliqa (+4%), Stepn (+6%) were two exceptions to this rule. KNC, the token Kyber Network’s Kyber Network, crashed into today’s top 100 with 15% gains in the last 24hrs.
It expanded to ten different blockchains, integrated with Uniswap v3 and took part in Avalanche’s new developer incentive. This led to a 50% price increase of Kyber Network’s KNC token yesterday.
Shiba Toby continues his rally. Shiba Toby bills itself as “the ultimate all-in-one token, providing the very best in cutting edge coding”. For each sale, holders receive a 5% reward
Shiba Toby, a hyper-deflationary token that automatically distributes rewards, is called Shiba Toby. Today, it has gained 2,266%.