The digital tokens in trade on April 6, 2022 took a beating as there is an rub off effect owing to the Fed's aggressive commentary that they will go very fast in rate hikes. Also the continuing Ukraine crisis is also adding to the woes of the digital tokens.
As a result top cryptos as compiled by Coindesk went down by up to 15% as in the case of Dogecoin. The other meme coin Shiba Inu also lost 12% at the time of writing this copy at 11:02 pm.
The top crypto by market cap Bitcoin was down by over 5%, Ethereum traded with a cut of over 7 percent.
Also, consequently there has been seen a decline in global crypto market cap by over 6% and reversal in gains with m-cap again hitting just $2 trillion.