Why Binance Coin, Polkadot, and The Sandbox Were All Down Today
Top cryptocurrencies Binance Coin (CRYPTO: BNB), Polkadot (CRYPTO: DOT), and The Sandbox (CRYPTO: SAND) each saw significant declines today. As of 3:15 p.m. ET, the tokens had dipped 5.7%, 6.3%, and 3.6%, respectively.
The tokens each dipped to their lowest level in a week today, as continued selling pressure in the crypto world drove most major tokens lower. Investors are continuing to price macro headwinds into cryptocurrencies today, with this week's unveiling of the Fed meeting minutes providing a negative outlook for risk assets amid expected interest rate increases and a faster-than-expected unwinding of the Fed's balance sheet.
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Source Fool.com