Top 10 cryptos decline, except Matic, as debt ceiling negotiations erode risk appetite

Coins with bitcoin symbol on red light and crypto stocks chart b

Bitcoin and Ether fell during afternoon trading in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, excluding Polygon’s Matic token. 

See related article: Governments could access Ledger wallet private keys, says CEO

Top cryptos in the red as risk appetite remains low

Bitcoin fell 1.93% to US$26,214 in the 24 hours to 4:30 p.m. in Hong Kong, after declining below the US$27,000 psychological level yesterday. Ether also fell below a key psychological level, dropping 1.69% to US$1,785.

“Regulatory uncertainty (leading to large market makers exiting the crypto business), the ongoing banking crisis due to the high-interest rate environment, and the debate regarding the debt ceiling are causing investors to take on less risk,” Tom Wan, a research analyst at, the parent company of 21Shares, an issuer of crypto exchange-traded products, wrote in an email to Forkast.

Cardano’s ADA token sustained the biggest loss, falling 2.5% to US$0.3576. Polygon’s Matic token was the only one in the green, gaining 0.96% to US$0.88.

The BNB token fell 1.02% to US$305, maintaining the US$300 psychological level, following a Reuters report alleging that Binance commingled customer funds in 2020 and 2021, citing three unnamed sources. 

Ethereum NFT sales rise for second consecutive day 

ApeCoin, Otherside’s native token, which is also linked to the Bored Ape Yacht Club NFT collection, soared ahead of the Otherdeeds sale but has plunged since.

The Forkast 500 NFT index fell 0.7% to 3,354.73 points in the 24 hours to 4:30 p.m. in Hong Kong and lost 1.01% during the week.

Ethereum’s 24-hour NFT sales rose 8.57% to US$16.6 million, gaining for a second consecutive day, along with the Forkast ETH NFT Composite that rose 0.22% to 1,132.71 points. Sales for the largest Ethereum-based collection, the Bored Ape Yacht Club, increased 2.72% to 1.9 million. 24-hour sales for Milady Maker rose 86.64% to US$994,991 and sales for DeGods strengthened 45.25% to US$703,000. 

NFT sales on Bitcoin lost momentum, falling 37.11% to US$1.8 million, as 24-hour sales for Bitcoin Fros fell 40.32% to US$188,735, according to CryptoSlam.

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