Business
oi-Roshni Agarwal
Crypto prices in today’s session have been trading mixed with bitcoin down by a tad while meme coin Shiba Inu has been seen gaining aggressively by more than 17%. The gains or some stabilisation is after the stakeholders have bought the dip in the digital tokens.
The major cryptos in the green of the top 20 assets list compiled by Coindesk as of writing this copy at 11:52 am are Ethereum, Ripple, Terra, Solana, Cardano, Polkadot, Stellar, Dogecoin, Polygon, Chainlink, ShibaInu, Internet Computer, Litecoin, Cosmos, Algorand and Decentraland.
While the ones in the red include Tether, Avalanche, USD Coin and Bitcoin.
In the US CPI inflation has come in at a record high and this could deter the sentiment in the crypto market as growth concerns may emanate and hence traders will shrugg off positions in speculative assets.
Nonetheless, there is also a view that cryptos alike gold, real estate play out as inflationary hedge and this could give a lift to these lately popular digital tokens.
Story first published: Wednesday, April 13, 2022, 12:46 [IST]
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