This Week in Coins: Bitcoin and Ethereum Crash More Than 30% as Recession Fears

[Jaya60]

The Federal Reserve also introduced the biggest interest rate hike since 1994, and crypto lender Celsius evoked memories of Terra. Bitcoin plunged well below $20,000, and as of this writing was trading at $19,095—the market leader has shed one-third of its value over the last seven days.

Ethereum is also in the trenches, trading at time of writing for $994.68, a 36% decrease over the week.

Other leading cryptocurrencies that took price hits of 30% or more this week include privacy coin Monero, down nearly 37% to $102.28, Cronos, down 30% to $.10, and Polygon, down 33% to $.36.

Each of the 30 biggest cryptocurrencies, excepting stablecoins, have fallen by double-digit percentages since last Saturday.more information