Bitcoin, Ethereum price drop

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On Wednesday, the cryptocurrency market took a break as the major coins regained their luster. Federal Reserve Chairman Jerome Powell did not surprise traders in his speech, which resulted in relief in the crypto market.

With the exception of bitcoin and dollar-pegged USD coin, all the top ten digital tokens were trading higher during the morning session. BNB and Polkadot both gained 6%, while XRP and Cardano both gained 4%. Compared to the previous day, the worldwide crypto market cap grew by more than 3% to $2.01 trillion. On the other hand, the total crypto market volume fell by almost 13% to $88.53 billion.

Prior to the announcement of the US CPI, bitcoin led the widespread crypto comeback. Recently, bitcoin and the broader crypto market have acted like a risk asset.

In 2022, Coinbase, a leading US crypto exchange, will give its employees one week every quarter to recover after intense work of ‘hard days and long weeks’.

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