Investor Anticipation of Fed’s Comments Boosts Bitcoin and Ether Prices Slightly

Bitcoin and Ether rose in Tuesday afternoon trade in Asia, alongside most other top 10 non-stablecoin cryptocurrencies. Matic token by Polygon led gains followed by XRP and Dogecoin. Meanwhile, the new Forkast NFT 500 index slipped and Chinese equity markets led losses in Asia due to weak trade data. Investors are awaiting comments by US Federal Reserve Chair Jerome Powell later today for clarity on the central bank’s interest rates. The global cryptocurrency market capitalisation gained 0.3% to $1.03tn, while the total crypto market volume rose 11.82% to $33.01bn in the last 24hrs. The Shanghai Composite lost 1.11%, the Shenzhen Component Index dropped 1.98%, and Hong Kong’s Hang Seng Index slipped 0.33%. Sales of Ethereum, the leading blockchain network for NFTs, increased 35.48% to $23.5m, while sales of Solana, the second largest NFT blockchain, rose 23.93% to $3.4m. NFT sales on Polygon surged 63% over the 24 hours to $1.7m.

Read the complete article