Crypto wrap: Market remains largely resilient despite Fed’s 75 bps hike

The cryptocurrency market was resilient despite a 75 basis points (bps) rate hike by the Federal Reserve, announced on Wednesday, market data showed. Total market capitalisation (m-cap) remained above $1 trillion, and the two biggest cryptos, by m-cap, Bitcoin (BTC) and Ethereum (ETH), stayed above $20,000 and $1,500 marks, respectively.

As of 1 PM (IST) on Friday, BTC was trading at $20,591, up 2 per cent in the past seven days, according to data from coinmarketcap. ETH was at $1,579, showing a jump of 5 per cent in the same period. The total m-cap of the crypto industry was at $1.02 trillion.