Bitcoin, Ethereum and others see more losses as US Fed’s rate hike reality spooks crypto market

Jan 27, 2022

By: BI India Bureau

Leading cryptocurrencies continue to suffer losses

With US Fed signalling a March interest-rate hike liftoff

Credit: Business Insider India

The global crypto market is down by over 2 percent

The recent wave of FUD has wiped out over $1.5 trillion of its overall value

Credit: Canva

Analysts are divided on whether prices will fall further

Some have predicted that another ‘crypto winter’ may be on the charts

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Should another ‘crypto winter’ set in…

Analysts fear it could kill off many of the newer DeFi apps

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As things stand, Bitcoin is priced at ₹27.1 lakh

The cryptocurrency is down by 1.54 percent in the last 24 hours

Credit: Canva

Ethereum is trading at ₹1.8 lakh

Its price has taken a hit a 1.48 percent since yesterday

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ETH whales have been using the opportunity to ‘buy the dip’

They’ve bought up over $500 million worth of ETH, according to Santiment

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Market data shows that the number of Ethereum address holding more than 10,000 coins...

has reached a new all-time-high

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Binance Coin’s rate is at ₹27.210

It has dipped by over 4 percent over the course of the day

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Cardano’s value stands at ₹77.99

The cryptocurrency is in the green, but only by 0.20 percent since yesterday

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Its contemporary, Solana, is priced at ₹6,657

It has taken a hit of 5.42 percent in the last 24 hours

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Terra’s LUNA token is trading at ₹4,192

The cryptocurrency is down by massive 8.24 percent over the course of the day

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Dogecoin is priced at ₹10.58

It’s down by 2.10 percent since yesterday

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Polkadot’s value stands at ₹1,316

It’s taken a hit of 5.35 percent in the last 24 hours

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Avalanche is trading at ₹4,741

It’s down by 6.53 percent since yesterday

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Disclaimer

These are top cryptocurrencies by volume according to Coinbase | Crypto prices in rupees updated as of January 27, 8:30 am IST and may change over the course of the day.

Credit: Canva

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