Most cryptocurrencies fell on Friday. "The market's reaction to the recent interest rate hike by the Federal Reserve may have contributed to this drop," said Edul Patel, CEO and Co-Founder of Mudrex. The global crypto market cap stood at $849.3 billion, with a volume of $33.5 billion in the past 24 hours. Bitcoin and Ethereum slipped from their monthly highs touched earlier this weak.
Bitcoin | The world’s largest and most popular virtual currency, Bitcoin, fell 1.8 percent to $17,389.6. Its market value stood at $334.9 billion. The trade volume was at $19.8 billion.
“After following a five-week’s high above the $18,000 level on Wednesday, Bitcoin slipped with increasing selling pressure on Thursday. Bitcoin’s support is currently at $17,100, and its resistance is at $17,550. Until Bitcoin is above $18,000, bears may have more influence than bulls,” said Edul Patel, CEO and Co Founder of Mudrex.
Ethereum | The second largest virtual currency, Ethererum or Ether, too fell 1.7 percent to $1,269.6 with a market capitalisation of $155.5 billion. The trade volume of Ethereum was $5.3 billion in the last 24 hours.
On Ethereum, Patel said, “Ethereum’s support is at $1,150, and its resistance is at $1,350, which could attract buyers back to the market.”
Dogecoin | Meme-based virtual currency, Dogecoin, fell two percent on Friday. Its market value stood at $11.4 billion. The trade volume was at $361 million.
Solana | Solana fell 2.5 percent to nearly $14 with a market capitalisation of $5.1 billion. The trade volume of Solana was $225.9 million in the last 24 hours.
Shiba Inu | Shiba Inu rose 0.9 percent with a market capitalisation of $4.9 billion. The trade volume was $83.9 million in the last 24 hours.
Polygon | Polygon fell 1.5 percent to $0.9 with a market capitalisation of $7.7 billion. The trade volume was $208.6 billion in the last 24 hours.
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