BENCHMARK
| Indices | LTP | Change (%) |
|---|---|---|
| BITCOIN | $27313 | 2.73% |
| ETHEREUM | $1735 | 3.06% |
CRYPTO STATS(24H)
| Indices | VALUE | Change (%) |
|---|---|---|
| MARKET CAP | $1.19 T | 2.90% |
| TRADING VOLUME | $81 B | 234.57% |
Top 5 GAINER
| Indices | LTP | Change (%) |
|---|---|---|
| AIDOS KUNEEN | $0.0018 | 1532.99% |
| MOBILE COIN | $0.00034 | 153.73% |
| QUASH | $0.0060 | 121.97% |
| CRYPTOXZOON | $0.00076 | 95.22% |
| OAX | $0.29 | 54.48% |
Top 5 Loser
| Indices | LTP | Change (%) |
|---|---|---|
| POPULOUS | $0.000010 | 88.17 |
| BONFI | $0.000011 | 57.69% |
| OOGI | $0.0000073 | 52.37% |
| CRYPTOZOON | $0.00039 | 49.22% |
| ZENITH CHAIN | $0.0038 | 44.09% |
The Federal Reserve has recently announced a 25 basis point increase in interest rates, which equates to a quarter of a percentage point. This decision has brought the benchmark funds rate to a range of 4.75% to 5%. In light of the recent turmoil experienced by regional banks, Chair Jerome Powell has reassured the public that the Fed will utilize all of its tools to ensure the safety of the banking system.
Major Events Around the World
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On Wednesday, the Federal Reserve once again raised interest rates, prioritizing concerns about persistently elevated inflation over the turmoil in the banking industry. The Federal Open Market Committee (FOMC), the central bank's rate-setting group, concluded its two-day meeting by increasing the short-term federal funds rate by 25 basis points, or 0.25%. This decision reflects the Fed's commitment to maintaining a stable economy and controlling inflation.
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The U.S. Securities and Exchange Commission has brought forth a series of charges against Justin Sun, a prominent figure in the cryptocurrency industry, and three of his affiliated companies, including the renowned Tron Foundation Limited. The charges include the unauthorised offer and sale of two unregistered cryptocurrencies, as well as accusations of market manipulation and conducting airdrops involving similar securities.
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During Chinese President Xi Jinping's visit to Russia, there is much speculation about the international payments system. The recent banking crisis has caused a great deal of fear, uncertainty, and doubt in the markets, leading to discussions about the potential risk to the US Dollar's status as the world's reserve currency. In the midst of all this, the price of Bitcoin is soaring to new heights, reaching levels not seen in nine months. The crypto community is buzzing with excitement, as many believe that the long-awaited bull market has finally arrived.
COINGABBAR Views: The Federal Reserve's recent move to scale back its aggressive rate hikes has raised concerns about the state of the banking industry and other sectors. However, this development could also have a silver lining for Bitcoin, which has been gaining traction as a digital alternative to traditional currencies. As investors and businesses seek new ways to hedge against economic uncertainty, the crypto market could see a surge in demand. But what are the implications of the US Federal Open Market Committee's decision for the future of Bitcoin and other cryptocurrencies? For more information Stay tuned with us at www.coingabbar.com
Also read: Visa Highlights Rise in Crypto Thefts and Commits to Crypto Partnerships
Disclaimer: Crypto is not regulated and can offer considerable risks. There may be no regulatory remedies available in the event of any losses resulting from price analysis. As a result, before engaging in any transactions involving crypto products, each investor must perform in-depth examination or seek independent advice.
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