The prices of the most important cryptocurrencies are correcting on Monday (18 or 4 or 2022) in the morning in Indonesia, amid increased uncertainty around the clash between Russia and Ukraine. Not only that, liquidity in the United States of America (USA) remains stable due to the tightening monetary policy of essential US banks.
Citing information from CoinMarketCap at 09:00 WIT, Bitcoin weakened 1.59% to a price level of USD 39,767.7 or coin or equivalent of Rs 570,467,657 or coin (assuming exchange rate at 14,345 rupees or USD), Ethereum plunged 2.2%. at a level of US$2,991.72 or coins or Rp.42,916,223 or coins.
Meanwhile, for other replacement tokens (altcoins), such as XRP, fell 2.53% to $0.7572 or coins (Rp 10,862 or coins), Solana corrected 1.48% to $100.69 or coins ( Rp 1,444,398 or coin), Cardano fell 2.98% to USD 0.9228 or coin (Rs 13,238 or coin), Terra fell 3.11% to USD 78.41 or coin (Rs 1,124,791 or coin) and Avalanche fell 2.08% to 76.17 USD or coin (1,092,659 rupees or coin). currency).
On Saturday, Bitcoin and other major cryptocurrencies returned to normal after correcting for the week ahead. However, due to investors implementing cautious measures, Bitcoin and other cryptocurrencies are correcting again today, although the correction is in the range of 1% to 2%.
Investors in the crypto market are looking to respond to the downside of rising inflation in the country of Mamak Sam and the ability to tighten monetary policy of the essential US bank (Federal Reserve or Fed).
Earlier on Tuesday the US week after, the US Employment Unit reported that the client-side inflation rate (Client Price Indicator or CPI) in March 2022 was 8, 5% compared to the same period last year (annual or interannual) . ).
This value is higher than the market consensus compiled by Reuters with an estimated 8.4%, in addition to being the highest recorded since December 1981.
In contrast, US Producer Price Index (PPI) inflation in March jumped 11.2% on an annualized basis (yoy).
The rise in inflation in the country of Mamak Sam has generated expectations of a tightening of monetary policy by the Federal Reserve. The Fed already raised its benchmark interest rate in March and is expected to raise its benchmark rate further this year.
Not only that, the war between Russia and Ukraine, which is far from harmonious, has increased the history of negative affect. The uncertainty of the general macroeconomic situation, as well as the geopolitical clashes between Russia, Ukraine and Western countries, are making traders increasingly nervous.
On the other hand, the world’s largest non-fungible token (NFT) marketplace, OpenSea, has already experienced some legal scrutiny following an attack on its platform. Texas NFT owner Jimmy McKimmy sued OpenSea on Saturday to recover more than $1 million of his stolen NFT, Bored Ape #3475.
The piracy issue has created more uncertainty in the NFT community, which could be at the root of the app slowdown in recent months.
McKimmy is not alone, many of his clients do the same. OpenSea recently generated close to US$1.8 million in budget returns from consumers whose NFTs were stolen.
However, OpenSea’s policy regarding the exchange was unclear until recently. The program requires consumers to link their accounts to digital wallets, which means others can see unlisted NFTs and make potential legacy grants.
In McKimmy’s case, the hacker makes a deal, decides on the token, accepts McKimmy’s request, and then sells the NFT again.
Earlier this month, OpenSea’s Discord account was also hacked and posted a phishing link disguised as “NFT mint stealth” and used to steal NFT Mutant Ape Yacht Club #8662 from consumers.
The uniform incident sparked an outcry on Twitter and caused a complete slowdown in NFT trading.