Cryptocurrency News Live Updates and Latest News: The Global cryptocurrency market stands on hold as the investors await the much anticipated US CPI data. Experts suggest that the inflation rate might rise by o.3% in September from the month of August. It is calculated to be 8.1% up from the same period a year ago.
However, in August, the CPI jumped by 0.1% from July and about 8.3% compared with the year before. The total crypto market cap is marginally down to stand at $913 billion. Meanwhile, trading volume has skyrocketed by 352% to stand at $219 billion.
CPI Higher Than Expected; Bitcoin Prices Slumps
US CPI for September came out to be 8.2%. The previous CPI data was recorded to be 8.3%. However, the recent inflation data is higher than the expected rate of 8.1%.
Bitcoin prices have dropped by more than 3%. BTC is trading at an average price of $18.418.
US CPI and Bitcoin Price
The US will be dropping September CPI in a while. As per data, If CPI is declared higher than expected then the Bitcoin price has fallen by an average of 4% in the first half hour of the release. While, If CPI came out to be lower than expected, Bitcoin prices have jumped by around 2% on average.
Binance Drops 21st Quarter BNB Burn Data
Binance declared that it burned around 2,065,152.42 BNB tokens in the 21st quarter. The value of the burned BNB tokens stands at around $574.8 million. It is recorded higher than the 20th burn by Binance in July.
Binance Loans Lists USTC as Borrowable Asset
Binance, the world’s biggest cryptocurrency exchange announced that its Binance Loans platform has added USTC to the list of new borrowable assets. Terra’s USTC prices have jumped by around 3%.
Crypto Market Stays Humble Ahead Of CPI
Experts suggest that the inflation rate might rise by o.3% in September from the month of August. It is calculated to be 8.1% up from the same period a year ago.
However, in August, the CPI jumped by 0.1% from July and about 8.3% compared with the year before.
October Becomes 2022’s Biggest Crypto Hack Month
The month of October has seen around $718 million being lost into crypto so far. However, the second half of October is still remaining. This month has successfully breached the numbers recorded in March 2022.
