The rates of all major cryptocurrencies collapsed amid high inflation in the United States.
What is known
The day before, during trading, the Ethereum rate fell to$1436. The situation worsened over the course of the day. At the time of writing, the value of ETH is less than $1250. In 24 hours, the price of the crypto asset fell by almost 16%, and in a week the currency fell by more than a third (35%).
Bitcoin is also not far behind.The first, and at the same time the most expensive and most popular cryptocurrency already costs less than $24,364. The asset was last traded below $25,000 in December 2020. Capitalization dropped to $462.6 billion. Over the past 24 hours, the asset fell in price by 11.7%, and over the week – by 22.5%.
The reason for this, according to Bloomberg, isnew statements from the US Federal Bureau of Labor Statistics. According to the department, the consumer price index in May 2022 increased by 8.6% compared to May 2021. This is the worst figure since 1981.
Source: Forbes, Bloomberg, Coinmarketcap
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