After the Fed’s Wednesday hawkish remarks, crypto currencies suffered a massive bloodbath.
Jerome Powell’s negative comments pushed the markets into a downward spiral despite the 25-bp reduction in interest rates.
Powell’s comments not only signaled a cautious approach to future policy rate changes, but also dashed the hope of the much-anticipated Bitcoin Reserve.
The markets were shook by Powell’s FOMC address, making this a memorable red day. Watch laws change and assets shift to Bitcoin as you record this historic moment. The future will laugh at this video!
View all replies
The Fed’s signals of hawkishness triggered a wild rise in volatility for crypto currencies, and sellers dominated.
Bitcoin dropped from $98,900 to around $5,500 in late Wednesday sessions to reach $100,109 by press time.
Alt space tokens dropped by double digits.
Cardano, Curve Finance and other coins that were below their $1 mark caught the attention of investors.
Hedera Hashgraph fans received good news after the launch of the HBAR ETP on Euronext Amsterdam.
Cardano price drops below $1
ADA has seen impressive price action as it has rallied off the crucial support barrier of $0.3.
In the upside position, tokens reached yearly highs of $0.8 before surging past $1.
ADA has failed to break through the $1.3 resistance level. This is a sign of bearish trends.
After a plunge from peaks of $1.05., the token is now worth $0.926.
Cardano’s performance will most likely retrace in the medium-term.
Before the upside resumes, it can fall towards the critical foothold of $0.8.
Support levels of $0.76 and $ 0.64 could be considered in the event that there is a prolonged bearishness.
Stability above $ 0.64 may trigger a trend for ADA in the face of broad market recovery.
Altcoins will most likely aim for $1.42, $1.72 and then explode towards $2.36.
Curve Finance Price Performance
After a series of intense sell-offs in the last 24 hours, CRV is hovering at $0.8877.
Curve reached a high of $1.0538, and a low of $0.8841. This confirms the massive price volatility.
Many people were surprised by the rapid decline.
Curve Finance’s founder Michael Egorov, for example, saw his most recent acquisition liquidated. This confirms the difficulties that both experienced investors and novices face amid increased volatility.
The CRV is showing signs of weakness, and it’s likely to continue sliding before any possible recovery.
Moving Average Convergence Divergence crossed to the downside on the daily chart.
The Relative Strength Index also reflects a fading momentum, as the sellers dominate.
Hedera HBAR ETP is now available on Euronext
Valour Digital Securities Limited and The Hashgraph Group launched the Hedera ETP on Euronext Amsterdam on Thursday.
Big news for #HBAR! Valour announces the launch of “Hedera ETP” at Euronext Amsterdam. This is a great step for the adoption of crypto in traditional markets. #Crypto #Hedera
This move highlights the growing connection between TradiFi & DeFi while providing European investors with seamless access to HBAR Tokens.
Now, both institutional and retail investors can invest in native tokens without worrying about regulatory or transparency issues.
DeFi Technologies’ CEO Olivier Roussy Newton made the following statement:
Our commitment to simplifying the access to digital assets is exemplified by our addition of Hedera’s HBAR ETP on Euronext.
The listing also magnifies the opportunities available to retailers and other institutions who want to be part of a large and durable Hedera Blockchain.
HBAR is trading at $0.2879, after losing 2.10% over the last 24 hours.
The post Altcoins Today: ADA and CRV Prices Fall Below $1; HBAR ETP Debuts in Amsterdam could be updated as new information unfolds
This site is for entertainment only. Click here to read more
