Cryptocurrencies record strong declines this morning, Thursday, April 7, coinciding with a clear decline in risk appetite in the markets before the opening of the European session. billion dollars.

The US Federal Reserve’s minutes issued yesterday, Wednesday, raised the market’s expectations regarding the pace of interest rate hike and the speed of the Fed’s tightening, as the Fed members showed that they see inflation much higher than the committee’s target and the inflationary risks are on the upside, and they preferred to raise interest rates by half a point in the previous meeting, as the members agreed.

On setting a monthly ceiling for balance sheet reductions of about $60 billion for Treasury securities and $35 billion for MBS bonds. The market value of the cryptocurrency market combined, according to Coingecko, which includes more than 13,000 digital currencies, has been declining since the beginning of the session, with about 4.7% traded at levels of $2.1 trillion.

Ethereum, the second largest digital currency, is declining by about 4.33%, and it is trading at $3.212 thousand levels, with a market value of $385 billion.

The Dogecoin currency is considered the most affected during the session, as it records declines of about 12%, trading at levels of 0.1433 dollars, with a decline in the market value to 19 billion dollars, while Cardano loses about 7.86% and is trading at levels of 1.06 dollars, and a market value is estimated at about 35 billion dollars.

The Shiba Inu currency, in turn, is declining by about 6.5%, trading at levels of $0.00002457, with a decline in the market value to 13 billion dollars, while the Solana currency is trading down by about 10.38%, trading at levels of 113 dollars, and a market value estimated at 37 billion dollars.

The XRP or Ripple currency is down by about 5.70% today, Thursday, and is trading at 0.7733 levels, with a decline in its market value to 37 billion, while Litecoin is losing about 6.12% by trading at levels of $112, with a decline in the market value to $7 billion.