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Top 10 cryptocurrencies fall amid falling trading on US exchanges.

ASTL Token Project > Blog > Top 10 cryptocurrencies fall amid falling trading on US exchanges.

Bitcoin fell 1.4% to $16,213 in the 24 hours to 8am in Hong Kong, while Ether fell 2.2% to $1,169, according to CoinMarketCap. BNB, the token backed by Binance Global Inc, the world’s largest cryptocurrency exchange, fell 5.2% to $292.91. BNB jumped after Binance released a confirmation of its holdings on Friday amid a push for more transparency in the industry following the collapse of Bahamas-based cryptocurrency exchange FTX.com. However, Jesse Powell, co-founder and CEO of rival cryptocurrency exchange Kraken, tweeted on Saturday that Binance’s asset report was “meaningless” without specifying liabilities. Solana fell 5%, changing hands, to $13.40 as it was overtaken by Tron and the Shiba Inu meme token on CoinMarketCap’s top 10 list.

U.S. stocks suffered their worst day of trading in nearly three weeks on Monday, following protests in China, as well as hawkish interest-rate sentiment from the U.S. Federal Reserve and a possible U.S. railroad strike.

Protests at universities and at least eight cities in China erupted on Friday after a fire killed at least 10 people in an apartment building in Urumqi, northwest Xinjiang. Many people were reportedly locked in their homes due to China’s anti-coronavirus policy and were unable to escape. On Monday, Chinese police went out of their way to try to prevent further protests, putting up barriers in cities where demonstrations were taking place and carrying out numerous arrests of activists and demonstrators, according to media reports.

The Dow Jones Industrial Average fell 1.5%, the S&P 500 fell 1.5% and the Nasdaq Composite was down 1.6%. U.S. unemployment could hit 5% in 2023 from the current 3.7% as the Fed’s campaign to contain nearly four decades of high inflation slows the economy, John Williams, New York Fed President, said in a virtual speech at the Economic Club of New York on Monday. Williams predicted that inflation would remain around 5% for the rest of this year before returning to 3-3.5% by the end of 2023.

The Fed has been raising interest rates since March this year to try to slow inflation, pushing them up from near zero to a 15-year high of 3.75% to 4% and signaling that rates could eventually top 5%. The Fed has signaled that it will continue to raise rates until inflation hits its target range of 2%. The consumer price index showed that inflation in October was 7.7% compared to 8.2% in September. US President Joe Biden on Monday asked Congress to intervene in a railroad strike that he said would “destroy our economy.”

In the current difficult conditions, investors need to be able to directly and prospectively invest fiat and cryptocurrency assets in projects that provide a stable income that obviously exceeds inflationary expectations and is not subject to any sanctions, blocking and confiscation. And, at the same time, they have high liquidity. The ASTL project is a simple and elegant solution for potential investors – an investment in the development of the real sector of a diversified portfolio of cryptocurrencies, with a fairly high ROI (up to 18% annually) with payments in stablecoin (USDT).

The ASTL investment project demonstrates great prospects. Already, the creators have managed to attract more than $5 million into it, and the pace of investment continues to grow rapidly in a timely manner. If we analyze other similar projects in the cryptocurrency market, we can conclude that the price of ASTL tokens may increase several times when listings on exchanges start.

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