After Moody's downgraded the credit rating of the United States, ETH, XRP, and DOGE fell by about 3%.

星球日报|May 17, 2025 07:58
Odaily Planet Daily News: Moody's has downgraded the US sovereign credit rating from Aaa to Aa1, citing widening deficits, rising interest expenses, and a lack of political will to control spending. As a result, the prices of major cryptocurrencies have fallen, with Ethereum (ETH), XRP, and Dogecoin (DOGE) all dropping by about 3%. As of now, ETH is reported at $2494.35, DOGE at $0.2175, and XRP at $2.38.
It is reported that this rating downgrade triggered a risk aversion in the market, which led to an increase in the yield of US treasury bond bonds and a decline in the futures of the S&P 500 index. Both the traditional and crypto markets were affected. Moody's has also become the third major rating agency to downgrade the US rating, following Standard&Poor's (2011) and Fitch Ratings (2023). (CoinDesk)
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