Zcash (ZEC) has dropped by nearly 6% in the past 7 days following a massive rally that pushed the token to its highest levels in a decade.
Trading volumes remain quite high at $1.4 billion, accounting for over 7% of the ******* et's circulating market cap.
The price hit a strong sell wall at $1,300 as macroeconomic conditions in the United States deteriorated.
A stable inflation print on Friday kickstarted a short-lived rally across crypto ******* ets but quickly faded, as odds of a rate hike during the next FOMC meeting rose to nearly 90%.
The Federal Open Market Committee (FOMC) is expected to convene on September 16. Comments from the new Chairman of the central bank, Kevin Warsh, will be scrutinized to get a sense of how the institution plans to curb inflation.
#inflation #zcash #trading #states
Trading volumes remain quite high at $1.4 billion, accounting for over 7% of the ******* et's circulating market cap.
The price hit a strong sell wall at $1,300 as macroeconomic conditions in the United States deteriorated.
A stable inflation print on Friday kickstarted a short-lived rally across crypto ******* ets but quickly faded, as odds of a rate hike during the next FOMC meeting rose to nearly 90%.
The Federal Open Market Committee (FOMC) is expected to convene on September 16. Comments from the new Chairman of the central bank, Kevin Warsh, will be scrutinized to get a sense of how the institution plans to curb inflation.
#inflation #zcash #trading #states
2 months ago
