BTC & ETH Drop, MATIC and This Crypto Breaks Out After Instagram NFT News

The crypto market was briefly volatile yesterday after the FOMC and Chairman Jerome Powell’s speech. However, the total market capitalization of all cryptocurrencies is now back to roughly the same amount as 24 hours ago: $1.05 trillion. Despite this, today we have a handful of prices that break out strongly on big news.

Bitcoin Holds Reasonably After FOMC

Bitcoin (BTC) ultimately remained calmer than other financial markets after the FOMC. The price briefly fell to $20,000, then reversed to $20,400, but has now fallen back below $20,300. This means BTC price is down 1% today. Despite the uncertain market conditions, investors continue to accumulate:

Ethereum dived a little deeper

Ethereum (ETH) briefly broke through $1,600 after the FOMC, peaking around $1,615, but then plummeted harder than bitcoin, briefly reaching $1,500. Since then, ETH has recovered to $1,150, but is currently falling below that. ETH is down 1.5% today.

Binance coin is up 4.2%

Binance coin (BNB) didn’t fall nearly as hard yesterday, holding just around USD 318. Overnight BNB was able to rise sharply, touching $336 this morning. BNB is currently falling below $335 but is still up 4.2% today.

Dogecoin down 4.5%, chain down 14%

Dogecoin (DOGE), on the other hand, is down 4.5% today, but still up more than 80% compared to a week ago.

However, we have an even harder descender today, and that is Chain (XCN). The XCN price took a big dive yesterday afternoon and is no less than 14% down compared to 24 hours ago.

Polygon breaks out and rises 12%

Then we have another series of impressive risers on the market today. Ethereum name service (ENS) is 8% in plus, graphen (GRT) is 9.5% in plus and the mina protocol (MINA) even 12%.

Polygon (MATIC) is also up 12% to touch $0.98 this morning. The huge increase has to do with the news below of a partnership with Meta and Instagram on NFTs:

Arweave makes a big jump of 60%

It doesn’t stop there. Filecoin (FIL) is already 15% in plus today and flow (FLOW) even 15.5%. Then we have today’s big winner: arweave (AR).

The AR price increased by more than 60% (!) last night. AR briefly touched $17.5 and looks to hold around $16.5. Arweave’s progress is related to similar news to Polygon:

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