Ethereum plunges 13%, down more than Bitcoin after Fed spooks crypto markets By Cointelegraph
© Reuters
Ethereum’s native token, Ether (ETH), plunged sharply hours after the United States Federal Reserve released the minutes of its December meeting, showing that it eyes a faster timetable for hiking interest rates in 2022.
The minutes showed that the Federal Open Market Committee (FOMC) is in favor of raising short-term rates “sooner or at a faster pace than participants had earlier anticipated.” According to the CME Group (NASDAQ:CME), trading in the interest-rate futures market showed a two-thirds possibility of the first increase in March.
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