Moody's Downgrades U.S. Sovereign Credit Rating to Aa1, Leading to a Approximately 3% Drop in Major Cryptocurrency Prices

According to ChainCatcher, Moody's has downgraded the U.S. sovereign credit rating from Aaa to Aa1 due to an expanding deficit, rising interest expenses, and a lack of political will to control spending. As a result, the prices of major cryptocurrencies have dropped, with Ethereum (ETH), XRP, and Dogecoin (DOGE) each falling by about 3%.