Cryptocurrency price today: The global cryptocurrency market on Saturday, May 7, continued to spiral further down as markets ended on a choppy note after the FOMC meeting and the US Federal Reserve’s rate hike.
This was a sharp plunge of 1.86 per cent over the last 24 hours, according to data from global cryptocurrency tracking website CoinMarketCap.
On the other hand, Ether price today was trading at $2,665.99 while writing this article, as per data from the same website.
“The outcome of the Federal Open Markets Committee and press briefing by Fed chief Jerome Powell gave a slight push to the crypto market as the committee decided to raise the interest rate by 50 basis points and chalked out plans to cool down inflation.
The value of the global cryptocurrency market slipped by 2.05 per cent over the last 24 hours to scale $1.64 trillion.