Investing.com – Crypto markets retreated this week with doubts surrounding the impact of the omicron variant on the economy and with the announcement of tightening monetary policies. The Fed expects to end its asset buyback program in March 2022 to begin increasing key rates. This trend feeds risk aversion and should reduce the level of inflation, at the same time pulling cryptocurrencies down.
Some cryptos, however, escaped the general decline. This was the case with Avalanche and. The former benefited from the arrival of a large volume of liquidity following the addition of the to its infrastructure. The second has again benefited from the support of Elon Musk who sees it as an efficient means of payment.
The crypto industry is once again under fire from regulators this week. Russia’s central bank is exploring the possibility of an outright ban on crypto in the country, as Bank of England warns of systemic risk. This contrasts with the comments of Powell who sees no immediate risk to the financial system.
Separately, the UK advertising regulator has banned messages from several crypto-related products to ensure consumer protection. In the same way is found in justice.
Despite everything, the sector continues to develop with the announcement of new products and services. This was the case for German savings banks which intend to provide their customers with access to the world of cryptocurrencies as well as HSBC (LON 🙂 and Wells fargo (NYSE 🙂 who will settle their forex transactions using the blockchain.
The cryptos that have benefited the most from this week’s conditions are:
, currently at $ 27,837.79, is up 36.90% over the past 7 days and is down 9.39% on a monthly basis and ranks 88th with a capitalization of $ 1.0 billion.
, currently at $ 113.40, has grown 34.44% over the past 7 days and 8.58% on a monthly basis and ranks 9th with a capitalization of $ 27.7 billion.
, currently at $ 31.96, has grown 34.40% over the past 7 days and 21.51% on a monthly basis and ranks 67th with a capitalization of $ 1.9 billion.
, currently at $ 1.12, rose 31.01% over the past 7 days and fell 2.55% on a monthly basis and ranks 90th with a capitalization of $ 0.9 billion.
, currently at $ 50.25, has risen 22.30% over the past 7 days and is down 14.43% on a monthly basis and ranks 73rd with a capitalization of $ 1.6 billion.
However, the market did not see only increases, but recorded losses as well:
, currently at $ 64.29, is down 19.37% over the past 7 days and 41.04% on a monthly basis and ranks 98th with a capitalization of $ 0.8 billion.
, currently at $ 0.002669, is down 16.32% over the past 7 days and 25.48% on a monthly basis and ranks 55th with a capitalization of $ 2.6 billion.
, currently at $ 2.10, is down 14.03% over the past 7 days and 18.83 %% on a monthly basis and ranks 52nd with a capitalization of $ 2.8 billion.
, currently at $ 0.007554, is down 13.81% over the past 7 days and 39.82% on a monthly basis and ranks 80th with a capitalization of $ 1.3 billion.
, currently at $ 0.1956, has fallen 13.77 %% over the past 7 days and 40.80% on a monthly basis and ranks 86th with a capitalization of $ 1.0 billion.