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The market capitalization of all cryptocurrencies was $1.01 trillion, with a turnover of almost $44.3 billion over the previous day. Powell's hawkish remarks and the uncertainties surrounding Silvergate Bank "may take traders and investors some time to understand and analyse."

Bitcoin

The biggest and most well-known virtual money in the world, Bitcoin, decreased 1.4 percent to $22,188.1. At the time, it had a $428.9 billion market worth. The value of the transaction was $22.9 billion.

"Bitcoin is currently being traded between $22,230 and $22,247. If BTC falls below its present level, the next support level would be $19,000."

Ethereum

Ethererum, also known as Ether, which is the second-largest virtual money, decreased 0.9 percent to $1,563.7 and has a market value of $191.5 billion. In the previous day, $6.9 billion worth of Ethereum was traded.

Ethereum is currently valued at $1,555, with its next level of support at $1,450, and is following a similar pattern to Bitcoin.

Dogecoin

A virtual currency founded on memes, decreased by 2.4 percent on Wednesday. It was valued at $9.8 billion on the market. There were $283.4 million worth of transactions.

Solana 

Solana dropped 3.4 percent to $20.1 with a market capitalisation of $7.7 billion. In the previous 24 hours, Solana saw trades worth $396.4 million.

Shiba Inu 

Shiba Inu market capitalization fell by 2.6 percent to $6 billion. In the previous 24 hours, there were $236.7 million in transactions.

Polygon

The market capitalization of Polygon, which was down 0.3 percent to $1.1, was $10 billion. $504.4 million worth of transactions were made over the past 24 hours.