30 August 2026
US Inflation Hits New Peak Of 9.1 percent, The Highest In 40 Years
As per the Federal Reserve’s latest inflation report, the inflation rate of the U.S. economy increased by 9.1% year-over-year in June, which is the highest rate in 40 years. Just in a month, the rate soared to 1.3%, marking the most significant month-on-month gain since 2005, as higher fuel, housing, and food prices were considered.
The news was followed by a drop in the value of many assets. The price of Ethereum fell by 4.4% over the course of the last few hours, and the prices of Cardano (ADA), Solana (SOL), and Dogecoin (DOGE) have followed suit. According to CoinGecko, the top 100 cryptocurrencies by market capitalization had a decline of at least 4%.
The total market cap of cryptocurrencies dropped below $900 billion after a drop of 2.5% in the previous 24 hours, with the majority of losses occurring during the most recent few hours.
For the past few months, the Crypto market has been negatively affected by the most recent decline, and it has been fighting a losing battle to recovery.
Back in May, the failure of the Terra stablecoin began a contagion spread among large cryptocurrency funds and lenders. It led to a domino effect across the cryptocurrency sector as a whole, and this impact may be still ongoing.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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