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Cryptocurrencies have lost up to 9% of their value

On the eve of the much-anticipated meeting of the US Federal Reserve, the cryptocurrency market lost more ground on Tuesday in New Delhi. Six of the top 10 digital tokens had fallen in value as of 9.30 IST. While Terra and Polkadot rose, Cardano lost 6%. The worldwide crypto market cap declined more than 5% to $2.13 trillion in comparison to the previous day. On the other hand, the global cryptocurrency market volume grew by 38 percent to $97.03 billion.

New data released Monday by CoinShares shows cryptocurrency products and funds attracted $88 million of net inflows over the past week, even as cryptocurrency values fell. In the last 24 hours, Edul Patel, CEO, and Co-founder of Mudrex claims that the crypto market has fallen significantly following a profit-taking session. The "total traded volumes" jumped by more than 40%, he claimed, and "we should expect the market to be volatile over the next 24 hours"

 

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