FED’s decision on rate hike could impact crypto prices this week | CoinPanel Weekly Overview

  • Ethereum’s migration to proof-of-stake is progressing steadily as over 10 million Ether, equivalent to approximately $26 billion has been staked on the blockchain since November 4 last year.
  • Chainlink whale addresses-holders of 10,000 to 10 million LINK- have accumulated 17.1 million tokens in less than a month, an encouraging sign for the altcoin.
  • US President Joe Biden issued an executive order requiring government agencies to explore the issuance of a central bank digital currency and to consolidate a national framework for cryptocurrencies.
  • The European Commission stated that digital assets will fall under additional sanctions targeted against Russia and Belarus amid the military conflict in Ukraine.
  • Elon Musk stated that he does not have any plans to sell his crypto as inflation rises.
  • The Federal Reserve in the United States is expected to increase the key rate in the country and could greatly affect both the equity and cryptocurrency markets.

Could a correction be in store?




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