Connect with us

Hi, what are you looking for?

Economy

Altcoins Surge 14% After the Fed’s 50 Basis Point Hike

Altcoins Surged More Than 14% After the Fed’s 50 Basis Point Hike

On September 19, market data displayed a sudden surge in altcoin prices right after the Federal Reserve cut the interest rate by 50 basis points. This measure led to significant gains in several altcoins within the last day.

Kadena (KDA) surged by 22.64% to $0.65, and the asset was the clear leader in the rally. Saga (SAGA) gave it the second best by ending up 22.39% post-move, to $2.452. Sei (SEI), on the other side, delivered one of the most significant, 19.97% which pushed its price up by $0.3382. Blur (BLUR) went up by 17.1% to $0.208. Celestia (TIA) marked a 14.88% gain in the exchange.

These gains evoke the stock market’s response to the Federal Reserve’s reducing rates as people begin pursuing high-risk cryptocurrencies. A lesser interest rate usually leads to increased liquidity, which makes altcoins suitable for people who want to take advantage of the current market conditions.

Fed Rate Cut Sparks Bitcoin and Altcoin Surges Up to 24%

The chairman of the US Federal Reserve, Jerome Powell, was keen to convey that the move primarily aims to bring price stability. As a consequence of the announcement, the digital asset Bitcoin traded 4.31% higher over the 24-hour period with $62,336 being a three-week high. On the other hand, the lower tokens like SUI, TAO, and FLOKI had an even more significant way and they had the price go up to 24%.

The continued breakout of altcoins can be a great window for traders who wannna ride the wave of a long buying or open long positions. Given that the market is very dynamic and the exchanges move, what is important is always to act fast to get the maximum out of the potential gains.

Discover emerging altcoins gaining traction and speculate on the extent to which the market can make potential gains while the trends are upward. Get to know the altcoins being prepared to take on the limelight due to the shift in the financial environment!

The post Altcoins Surge 14% After the Fed’s 50 Basis Point Hike appeared first on FinanceBrokerage.

You May Also Like

Investing

Perth, Australia (ABN Newswire) – Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce the execution of an Offtake Letter of Intent between...

Investing

Biren Technology, a Chinese artificial intelligence (AI) chip developer seen as a potential rival to industry leader NVIDIA (NASDAQ:NVDA), is making preparations for an...

Latest News

A shadowy group has been recruiting unsuspecting candidates to act as potential spoilers in competitive House races in the latest attempt from far-left groups...

Economy

PlayDoge Play-To-Earn Crypto Game – Get All The Info Have you ever considered making an income from the famous PlayDoge play-to-earn crypto game? Are...

Disclaimer: Earlyagenda.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2024 Earlyagenda.com