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Fitch Ratings has downgraded the United States' sovereign credit grade by one level from AAA to AA+ on the basis of 'ballooning fiscal deficits and erosion of governance' that have caused repeated debt limit emergencies over the past two decades.
The total volume in DeFi is currently $3.41 billion, 10.7% of the total crypto market 24-hour volume. The volume of all stablecoins is now $29.42 billion, which is 92.31% of the total crypto market 24-hour volume.
"The market seems to have digested the news about Curve Finance being the victim of an exploit. Curves CRV token price fell by over 15.87% over the last 24 hours. Ethereum successfully breached the threshold level of $1850 and is now trading at around $1871," Edul added.
The market cap of Bitcoin, the world's largest cryptocurrency, was around $567 billion. Bitcoin's dominance is currently 48.19%, a decrease of 0.02% over the day, according to CoinMarketCap.
Cryptocurrencies saw a mild uptick in prices after the US Federal Reserve raised its benchmark lending rate by 25 basis points to a range between 5.25% and 5.5%. Bitcoin gained 0.67% to $29,429, while Ethereum was above the $1,850 level. However, analysts warned that for cryptocurrencies