New Delhi: Crypto market continued to bleed on Tuesday ahead of the Federal Reserve’s policy meeting. Investors have begun their countdown for a 75 basis point rate hike, which pushed the digital tokens lower.
The total market capitalization of the crypto space again slipped below the $1 trillion mark, with Bitcoin barely holding on to the $21,000 level while Ethereum dropped below the $1,500 level. Rising fears of economic slowdown continue to haunt the riskier assets.
All the top crypto tokens were trading lower during the early hours on Tuesday. Polygon plunged over 9 per cent, whereas Avalanche and Shiba Inu tumbled 7 per cent each. Ethereum and Solana dropped 6 per cent each.
The global cryptocurrency market cap was trading lower at the $966.86 billion mark, dropping more than 4 per cent in the last 24 hours. However, the total cryptocurrency trading volume jumped close to 18 per cent to $75.16 billion.