Cryptos Upbeat As Fed Maintains Status Quo — Solana, Avalanche And Dogecoin Rebound

1 views 7:38 am 0 Comments December 19, 2023

The cryptocurrency market has demonstrated resilience despite the U.S. Federal Reserve holding interest rates at their current level.

Prices of major digital assets continue to rise. Bitcoin BTC/USD, for example, witnessed a notable increase in its price, currently trading at approximately $42,760.

This marks a 4.1% increase in the last 24 hours, reflecting investor confidence and a positive market sentiment following the Fed’s announcement.

Bitcoin’s market cap currently stands strong at around $836.9 billion, dominating 50.0% of the total cryptocurrency market.

Also Read: ATOM, BONK, SUI: Crypto Experts’ Bullish Forecasts Set The Stage For These Targets

Top 10 Cryptocurrencies: A Snapshot

  1. Ethereum ETH/USD: Ethereum follows Bitcoin, trading at around $2,260.25, with a 3.6% increase in the last 24 hours. Its market cap is approximately $270.6 billion.

  2. BNB BNB/USD: Binance Coin shows a modest increase, trading at $253.59, marking a 0.6% rise in the last 24 hours.

  3. XRP XRP/USD: XRP is trading at $0.625466, with a slight 1.6% increase in the last 24 hours.

  4. Solana SOL/USD: Solana shows a significant rise, trading at $70.42, marking an 11.4% increase over the last week.

  5. Cardano ADA/USD: Cardano has seen a remarkable 45.1% increase over the last week, currently trading at $0.646733.

  6. Lido Staked Ether STETH/USD: Trading at $2,250.62, STETH mirrors Ethereum’s performance.

  7. Avalanche AVAX/USD: Avalanche has experienced a 50.9% increase over the last week, currently trading at $41.09.

  8. Dogecoin DOGE/USD: Dogecoin, the popular meme coin, is trading at $0.095048, with a 3.6% increase in the last week.

Market Outlook

The cryptocurrency market is showing signs of robust growth and resilience in response to the Federal Reserve’s decision.

Investors seem to be optimistic, as evidenced by the surge in prices of major cryptocurrencies.

This trend highlights the increasing influence of macroeconomic factors on the digital asset market.

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