Market Wrap: Ether, Other Cryptos Rise Despite Unsettling Inflationary Concerns

More storm clouds formed over the global economy on Thursday as the U.S. Labor Department announced a small dip inby a jumbo-sized 75 basis points, matching recent U.S. hikes.

The two unrelated events underscored the difficulties central banks are facing in cooling the economy and stemming inflation, and they sent equities downward.the two largest cryptocurrencies by market capitalization, were recently trading flat at roughly the same levels they’ve maintained for much of the past two weeks. BTC was holding steady at about $20,200, up a smidgen over the past 24 hours, while ETH continued to hover over $1,500, a 2% gain for the same period.

“Hawkish monetary policy and macroeconomic uncertainty rage on,” CoinDesk crypto markets analyst Glenn Williams wrote. “But crypto investors ultimately have little else on their mind than cost basis.” Most other major tokens were trading solidly in the green, with the tokens of Web3 platforms Filecoin and Storj rising more than 14% and 10%, respectively. The increases followed an announcement by

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