New Delhi: Crypto market was trading higher even as the Federal Reserve reiterated plans to keep ratcheting interest rates higher to tamp down soaring inflation.
Geopolitical worries capped the gains for the digital market as US congresswoman Nancy Pelosi visited Taiwan which infuriated China. The world’s second-largest economy warned of ‘targeted’ military operations.
Barring Bitcoin, Solana and Tron, all the top crypto tokens were trading higher on Wednesday. Solana plunged about 3 per cent, whereas Polygon, Ethereum and BNB surged 3 per cent each. Shiba Inu and Avalanche added 2 per cent each.
The global cryptocurrency market cap was trading marginally higher at the $1.06 trillion mark, dropping more than 3 per cent in the last 24 hours. However, the total trading volume added more than 2 per cent, close to $76.31 billion.