Weekly Cryptocurrency Summary – Ethereum (ETH/USD)
During Friday’s Asian trading day, the price of Ethereum remained extremely low. The daily trend has been persistent, consistent, and constant selloffs with no signs of recovery in sight. Ethereum plummeted after the US Federal Reserve revealed minutes from its December meeting, indicating that it plans to hike interest rates more quickly in 2022. According to the minutes, the Federal Open Market Committee (FOMC) is in favor of raising short-term rates “sooner or at a faster pace than participants had previously anticipated,” according to the minutes.
According to the CME Group, trading in the interest-rate futures market revealed a two-thirds chance of the first hike in March. Following the release of the minutes, ether fell by more than 13.50%, reaching a low of $3,200.Its decline paralleled similar downtrends in the cryptocurrency market, with Bitcoin (BTC) falling over 9% to nearly $42,100.
Weekly Cryptocurrency Summary – Litecoin (LTC/USD)
Weekly Cryptocurrency Summary – Ripple (XRP/USD)
Weekly Cryptocurrency Summary – DOGECOIN (DOGE/USD)
The DOGE/USD currency pair has been flashing red since the start of the day. Even though AMC Theatres has confirmed that Dogecoin and Shiba Inu Payments are accepted, Dogecoin’s bearish price action is gaining traction. AMC, the world’s largest movie theatre chain, is getting ready to accept meme cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB) shortly. The CEO of AMC Theatres, Adam Aron, made the announcement and updated his company’s decision to accept these meme coins. AMC Theatres, also known as AMC Entertainment Holdings, is the largest movie exhibition corporation in the United States, Europe, and the rest of the globe. Corporations around the world own around 950 theatres and 10,500 screens.
The current Dogecoin price is $0.154079, with a trading volume of $785,506,252 in the last 24 hours. Dogecoin has lost 2.13 percent of its value in the last 24 hours. With a live market cap of $20,441,748,448, the current market ranking is #12. It has a circulating supply of 132,670,764,300 DOGE coins with no maximum supply.
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