US inflation data came in higher than expected for the month of September, increasing 0.4% month-over-month and 8.2% year-over-year.
October 13, 2022 | | | | | 📈 30 Second Cryptocurrency Price Summary | Current Bitcoin Price: $18,948 | Bitcoin price has had a volatile few hours of trading to begin Thursday, as the market whipsaws following the latest CPI inflation figures for September. | Top-20 altcoins are in the red across the board, as Ethereum falls 3%, BNB drops 1% and XRP suffers a 4% loss over the last 24 hours of trading. | Top Stories for October 13, 2022 🔥 | | US inflation data came in higher than expected for the month of September, increasing 0.4% month-over-month and 8.2% year-over-year. | Expectations from Bloomberg stood at 0.2% month-over-month and 8.1% year-over-year. Cryptocurrencies fell sharply following the release – continuing a trend which sees Bitcoin fall an average of 4% following a higher-than-expected inflation figure release. | | Ether (ETH) has become deflationary for the first time since "The Merge", its switch to the Proof-of-Stake consensus mechanism. | More ETH was burned during the verification of transactions than was minted during the same period, leading to a 0.13% reduction in supply over the last 7 days – around 4,000 ETH. | The rate of increase of the ETH supply has fallen by almost 90% since the Merge. | | China's central bank digital currency (CBDC) project of the digital yuan, known as e-CNY, has reached a total transaction volume of more than $14 billion so far during its pilot phase. | The figure was reported by the People's Bank of China (PBoC) this week. Other statistics from the program include an overall total of 360 million transactions and 5.6 million merchants already supporting e-CNY as legal tender. |
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