Hawkish Fed triggers $400B sell-off as meme coins mirror ETH, SOL price dip
- The cryptocurrency sector valuation fell below the $3.5 trillion mark on Thursday, with a 10.7% decline reflecting $390 billion worth of outflows.
- The crypto market dip has been linked to the US Federal Reserve hinting at a hawkish stance for 2025.
- Etherum and Solana suffered double-digit losses as investors’ skittish reaction triggered a market-wide meme coin sell-off.
Altcoin market updates: Ethereum and Solana among top losers after Fed triggers meme coin sell-off
The Federal Reserve’s (Fed) 25-basis-point rate cut on Wednesday aligned with market expectations.
However, it was overshadowed by hawkish comments from Chair Jerome Powell signaling fewer rate cuts in 2025. This triggered an immediate…
