Crucial Tokens Are Back In Red; BNB, PancakeSwap, Shiba Inu Drops

Crypto Price Today: After having a day of complete boost, the price of important tokens has plunged one more time. The global crypto scenario, especially the FTX case and FOMC meeting has likely impacted the market.

As of writing, BNB sinks 3.59% in the last 24 hours. PancakSwap is down by 2.96%. Shiba Inu slashes by 3.06%.

Bitcoin plummets by 0.28%. Ethereum shrinks by 2.01%. Polkadot falls downwards by 2.04%.

Solana sees a rise of 2.73% in the last 24 hours.

The global crypto market cap stands at 861.09 billion USD, a decrease of 1.04% in the last 24 hours. The total crypto market volume has also decreased by 12.93% and currently stands at 45.79 billion USD.

List of 4 tokens whose crypto price impact is crucial:

BNB (BNB) is down by 3.59%

With a dip of 3.59% in the last 24 hours, the market cap for BNB stands at 42.502 billion USD. Trading volume sees a downfall of 43.85%. Each BNB token is selling for 264.78 USD.

Source: coinmarketcap

PancakeSwap (CAKE) is down by 2.96%

With a drop of almost 3% in the last 24 hours, the market cap of PancakeSwap has gone to 583.837 million USD. CAKE token is costing 3.69 USD. Trading volume has also gone down by 23.77% over the last day.

Source: coinmarketcap

Shiba Inu (SHIB) is down by 3.06%

Crypto price of the famous meme crypto, Shiba Inu has dropped by 3.06% and each SHIB token is at 0.000008896 USD. The market cap is at 4.608 billion USD. Trading volume sees a dip too, of 28.29%.

Source: coinmarketcap

Solana (SOL) is up by 2.73%

Solana is one of the only big coins that is trading in green today. It jumps by 2.73%, to reach a market cap of 5.558 billion USD. Trading volume soars by 50.16%. Each SOL token is selling at 14.26 USD.

Source: coinmarketcap

Conclusion

To control inflation, the FED hikes interest rates again and has warmed up more hikes in the future. This in turn has made the market bearish. The market might remain bearish for a while, till FED finally decides to cut down the hikes. Thus, the crypto price have gone down drastically.

Shourya is a crypto fanatic who has developed interest in Business Journalism in the past few years. Currently, working as a writer with Coingape, Shourya is also an avid reader. Apart from writing, you can find her attending poetry shows, exploring cafes and watching cricket. As she says, “dogs are my home,” her first rescue of a dog was at the age of 7! She has constantly been speaking up for mental health and the rainbow pride.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.