Despite the U.S. Federal Reserve opting to keep interest rates at an unchanged level, the cryptocurrency market has persevered through it all, showing strength and resilience. Major digital assets such as Bitcoin (BTC/USD) are still being traded at approximately $42,7601, constituting a 4.1% rise in the past day – indicative of the investor confidence in the market, thanks to the much awaited announcement of the Federal Reserve. In the present day, the entire
crypto industry bears a $836.9B market cap, and Bitcoin alone comprising it’s half.
Other major cryptocurrencies in general have shown modest to substantial hikes in the respective trade – Ethereum (ETH/USD) trading at around $2,260.25, a 3.6% boost in 24 hours; Binance Coin (BNB/USD) standing 0.6% higher at $253.59; XRP (XRP/USD), 1.6% more valued at $0.625466; Solana (SOL/USD) absolutely dominating with an 11.4% surge to $70.42; Cardano (ADA/USD) with an ambitious 45.1% in last 7 days, at $0.646733; Staked Ether (STETH/USD) being an exact lookalike of Ethereum above and Avalanche (AVAX/USD) creaming it all with an incredible 50.9% daily tensage, surviving now at $41.09; and of course Dogecoin (DOGE/USD) left far from behind, with 3.6% climb to $0.095048.
The overall patterns in the cryptocurrency market warrants wider opinion-sharing surrounding the effects of macroeconomic integration – with the sole consensus being that larger market associate with higher willingness-to-invest and conceptualization of newer methods of intercommunication. It’s clearly a sign towards reckoning its valuation, given the many times bull run while not letting us forget, the unhastening of the utility tokens’ soar.
