Market highlights December 17: Cryptos decline, tech giants tumble on Fed’s 2022 plan

The majority of cryptos registered losses over the past 24 hours, with many of the top 10 in the red this morning. All three major US indices ended the day in the red yesterday after the Fed announced its intention to raise rates at least three times in 2022. The tech-heavy NASDAQ100 sank nearly 2.5% following the news, as Apple (-3.9%), Tesla (-5%), NVIDIA (-6.8%), Amazon (-2.56%) and Microsoft (-2.9%) all slumped.

Top cryptos

 Bitcoin was down 2.5% at time of writing, priced around $47,500. The largest losses of the top 10 were registered by Polkadot, which lost 8%, followed by Cardano, which fell more than 6%. Dogecoin and Shiba Inu both lost around 5%.

Top movers

Yearn Finance, an aggregator service for decentralized finance (DeFi) investors, is up 31% in the last 24 hours. It uses automation to allow them to maximize profits from yield farming. 

Arweave is a decentralized storage network that seeks to offer a platform for the indefinite storage of data. Describing itself as "a collectively owned hard drive that never forgets," the network primarily hosts "the permaweb" — a permanent, decentralized web with a number of community-driven applications and platforms. It gained 13% today. BORA is up 12%.

Curve DAO Token is also among the few winners. It has gained almost 8% today.

Since its price spike of almost 150% on 30 August, there has been no end to Celo’s gains. A recent listing on eToro helped. It has gained 8% in the last 24 hours. Waves is up 5.80% in the last 24 hours.

Elrond is one of the biggest losers of the day, down by more than 18% and reversing yesterday’s gains. Another loser is Kadena with a value drop of 16%. XDC Network, one of yesterday’s winners, has lost 14% so far today.

Trending

After migrating to BSC, onLEXpa is seeing huge gains. Online Lex Partners (onLEXpa Tokens) specializes in the development of online courses and projects. It aims to make education around the world more accessible through blockchain technology. It’s up 82,742.84% today.