The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $19,815.99 and BTC market dominance is %. The price of Ethereum is $1,538.04 and ETH market dominance is %. The best performing cryptoasset sector is Terra Eco, which gained 47%.
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Eurozone inflation is at record highs fueling pressure on a massive rate hike. Meanwhile, crypto markets hold steady while stocks sell-off.
Cover art/illustration via CryptoSlate
Eurozone consumer inflation rose to its highest-ever level at 9.1%, putting additional pressure on the European Central Bank (ECB) to hike rates.
Cryptocurrency markets continued to trade flat as the news broke. Market leader Bitcoin is up 0.1% during the last hour, while Ethereum is up 0.25% over the same period.
Meanwhile, European indices reacted by selling off, the DAX is down by over 100 points, and the FTSE fell by 77 points.
The ECB is scheduled to meet on September 8, where analysts expect officials to implement a massive rate hike to reign in out-of-control food and energy prices. A 75 basis point hike is likely, considering the scale of price pressures.
Samuel is a strong believer in individual autonomy and personal freedom. He is a relative newcomer to the world of cryptocurrency, having first bought Bitcoin in early 2017, but keen to make up for the lost time.
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