Ethereum, XRP and Solana fall more sharply than Bitcoin as altcoins face macro pressure

Ethereum , XRP, and Solana recorded sharper declines than Bitcoin over the past day, with analysts attributing the drop to renewed macroeconomic uncertainty and a shift in trader sentiment across the cryptocurrency market. The total cryptocurrency market cap fell 2.5% to $2.8 trillion. Ethereum declined 5.5% to a $289 billion market cap, XRP fell 5.1% to $82.4 billion, and Solana dropped 3.8% to $60.6 billion. By comparison, Bitcoin, the world’s largest cryptocurrency, declined 3.1% on the day and 2.6% over the week, lowering its market cap to $1.6 trillion. Market observers linked the sell-off to the latest US consumer price index reading of 3.7% and mounting expectations of an interest rate hike in October, both of which intensified macroeconomic pressures on riskier assets like cryptocurrencies.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.