Market stability after the Fed rate hike; Bitcoin up 0.91% and XRP price up 5%

Market stability after the Fed rate hike;  Bitcoin up 0.91% and XRP price up 5%


The global cryptocurrency market held its ground Thursday after the US Federal Reserve raised interest rates by 0.75 percent to curb red-hot inflation after the latest two-day monthly monetary policy meeting.

Most economists expect US inflation to remain between 4 and 5 percent in 2023 before it begins to decline. Federal Reserve Chairman Jerome Powell stressed that the bank will readjust rates when inflation falls.

Meanwhile, Bitcoin, the world’s largest cryptocurrency, has risen marginally in the past 24 hours, while Ethereum (ETH) is down 3.5 percent.

The broader market rose 0.29 percent to $926.9 billion, while trading volume rose 41.4 percent to $93.9 billion in the past 24 hours as of 4:00 p.m. ET, according to Coinmarketcap.com.

The big winner today was Decred; It was trading at $15.79, up 15.7 percent in the past 24 hours. The biggest loser was EOS, at $1.23, down 5.41 percent in the same period.

Major currencies

Bitcoin (BTC): Bitcoin rose 0.91 percent. It was traded at $19,116, raising its market value by 0.92 percent to $367.1 billion, while its trading volume increased by 51.71 percent to $51.7 billion.
BTC’s dominance of the crypto market jumped 0.17 percent to 39.56 percent.

Ethereum (ETH): ETH shares fell 3.55 percent to $1,290, and its market capitalization fell 3.54 percent to $158.1 billion. Trading volume increased by 61.7% to $22.3 billion.

Other altcoins

Ripple (XRP): The price of XRP increased by 5.14 percent to trade at $0.4253, while its market capitalization increased by 5.14 percent to $21.2 billion. Trading volume decreased by 12.1 percent to $3.5 billion.
Cardano (ADA)The price of ADA rose 1.4 percent to $0.4562. Its market value increased by 1.4 percent to reach $15.5 billion, and its trading volume increased by 27.3 percent to $1.01 billion.

Solana: The price of SOL rose 1.74 percent to $32.17. Its market capitalization increased by 1.8 percent to $11.4 billion, and its trading volume increased by 75.8 percent to $1.2 million.

Meme coins

Dogecoin (DOGE)DOGE’s price increased by 0.42 percent to $0.05891, the market capitalization increased by 0.42 percent to $7.8 billion, and its trading volume increased by 23.5 percent to $391.06 million.

Shiba Inu (sheep): Ship’s share price rose by 3.1 percent to trade at $0.00001086. Its market capitalization increased by 3.1% to reach $5.96 billion, and its trading volume increased by 48.9% to reach $346.5 million.



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