Speaking at the Bank for International Settlements (BIS) summit, Powell said the Fed "doesn't need to rush" the rollout of a central bank digital currency (CBDC) and that it does not want to destabilize the existing two-tier system. He stressed that any potential digital currency should be able to coexist with the current system and the use of cash.
Bitcoin decreased by 1.06 percent in the last 24 hours to 54,300.15 dollars, after fluctuating between 53,470.69 and 55,985.44 dollars, while the weekly loss of the currency was calculated at 2.31 percent. Bitcoin's total market volume was at 1.0 trillion 13 billion dollars.
Ethereum, the second-largest unit of the crypto currency markets, also fell by 1.06 percent in the last 24 hours to 1,682.04 dollars, while its weekly loss was 4.82 percent; the market volume of the unit also decreased to 193.73 billion dollars.
Tether, the third largest unit of the crypto currency markets, fell by 0.06 percent in the last 24 hours to 1.00 dollar, with a weekly gain of 0.07 percent; the market volume of the unit also decreased to 39.87 billion dollars.
With increasing corporate purchases, the total market capitalisation, which exceeded the 1.5 trillion dollar limit for the first time in history on February 15, was at 1 trillion 701 billion dollars in the early hours of Wednesday.
While the value of 68 units decreased from the highest volume of 100 units in the last 24 hours in the crypto money markets, eight of the top 10 units were among those that fell.
Bitcoin accounted for 59.6 percent and Ethereum for 11.4 percent of the total market volume in 36,980 markets where 8,935 cryptocurrencies were traded, while the 24-hour trading volume in all markets was at 128 billion dollars.