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Benzinga
Benzinga
Business
Henry Khederian

Why Ethereum Classic Is Nosediving Again Today

Ethereum Crypto Cryptocurrency US Federal Reserve Bitcoin Inflation

Shares of several popular altcoins, including Ethereum Classic (CRYPTO: ETC), are trading lower again Monday in sympathy with apex cryptocurrency Bitcoin (CRYPTO: BTC) and second-largest market cap crypto Ethereum (CRYPTO: ETH). 

Crypto is likely trading lower in tandem with major U.S. indices, which are lower following worse-than-expected May CPI data. Rising inflation has caused economic concerns and has also raised expectations for further Fed policy tightening.

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