encryption market capitalization fell below 3.9 trillion, BNB rose against the trend, ASTER reached a new high again

The chairman of The Federal Reserve (FED), Jerome Powell, stated that the labor market and inflation outlook face risks, suggesting that stock valuations are too high. After reaching a series of record highs, the stock market took a breather against the backdrop of large-cap technology stocks declining. The crypto market continues to fall, with only BNB among the top ten market capitalization crypto assets seeing an increase. The on-chain derivation platform Aster, which founder CZ has promoted multiple times, announced its trading rewards program, with ASTER reaching a historical high of 2.1625 yesterday.

Powell says stock valuations are too high, and US stocks have fallen from their peaks.

After months of enormous pressure from the White House to lower borrowing costs, Federal Reserve officials last week reduced the benchmark interest rate by a quarter of a percentage point and plan to cut rates two more times this year.

Federal Reserve Chairman Powell warned on Tuesday during an economic speech that there is no "risk-free path" as officials attempt to balance persistent inflation above the Federal Reserve's target and signs of weakness in the labor market. He further expressed concerns about valuations, noting that "stock price valuations are quite high." Powell also hinted that the path for interest rate cuts is unclear and that this is a "challenging situation."

Michelle Bowman, a member of the Federal Reserve, urged policymakers to take decisive action to lower interest rates in support of the sluggish labor market.

After setting a series of record highs, the US stock market took a breather against the backdrop of a decline in large tech stocks.

BNB is strong, ASTER surged to a historic high of 2.16.

The crypto market continues to fall, with a 24-hour decline of 0.57%, and the total market capitalization has dropped to $3.87 trillion.

The Fear and Greed Index has retraced to 40, indicating a neutral to low bias.

Bitcoin ETFs saw a massive outflow of $360 million on 9/22, while Ethereum ETFs had an outflow of $75.95 million.

Among the top ten market capitalization crypto assets, only BNB is pumping. After breaking the 1,000 USD mark yesterday, BNB has risen again. The founder CZ has repeatedly promoted the on-chain derivation platform Aster, which announced that its trading rewards program Aster Genesis: Stage 2 is officially entering the countdown phase. ASTER surged to a historical high of 2.1625 yesterday, and although it has retraced to 1.9 USD before the press time, its market capitalization has reached 3.18 billion USD, rising to the 37th position, with a 7-day gain of as much as 2,168%.

(Aster Genesis Phase 2 countdown begins! Rh points have been fully upgraded, rewards for true long-term traders)

DAT fluctuates between rise and fall

Digital Asset Financial Company (DAT) saw mixed performance yesterday.

MicroStrategy (MSTR): fall 2.43%

Strive (ASST): fall 18.29%

Semler Scientific (SMLR): pump 1.87%

BitMine (BMNR): fall 1.11%

SharpLink (SBET): up 2.41%

Forward Industries (FORD): pump 13.45%

Upexi (UPXI): pump 1.65%

DeFi Development (DFDV): fall 3.51%

Among them, Strive and Semler Scientific have significant premiums due to merger conditions, and their stock prices have recently shown large fluctuations.

(Strive acquires Semler Scientific through all-stock transaction, with a premium of up to 210%. Is it a good arbitrage opportunity? )

This article discusses the fall of the market capitalization of Crypto Assets below 3.9 trillion, the rise of BNB against the trend, and ASTER reaching a new high. It first appeared in Chain News ABMedia.