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Why Ethereum, Solana, and Cardano Dropped Today

TheMotleyFool

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Why Ethereum, Solana, and Cardano Dropped TodayPhoto, wide shot, wide-angle lens, Bank, sunset photo at golden hour, photo by Art Wolfe: https://img.theapi.app/temp/3aa597ca-f944-4a9b-bf8d-3071f3b5a5c9.png

After an impressive few weeks, the value of cryptocurrencies fell sharply on Thursday. The biggest market news was Federal Reserve chair Jerome Powell saying that he expected to support a short-term interest rate increase at March's Fed meeting, which some investors may have thought was currently off the table.

At 12:50 p.m. ET, Ethereum (CRYPTO: ETH) had fallen 5% in the last 24 hours, Solana (CRYPTO: SOL) was down 7.6%, and Cardano (CRYPTO: ADA) was down 5.9%.

Image source: Getty Images.

Source Fool.com

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