Home > NEWS > Crypto Market’s Post-Fed Rally Continues as DeFi, Smart Contract Platform Sectors Star

Crypto Market’s Post-Fed Rally Continues as DeFi, Smart Contract Platform Sectors Star

Uniswap's UNI token and Avalanche's AVAX token were recently up about 4.5% and 3.4%; ether rose 3% at one point Thursday a day after unexpectedly moderate comments from Fed Chair Jerome Powell.

A day after the Fed's Jerome Jerome was unexpectedly less radical, with the Fed meeting raising interest rates slightly, most of the key encrypted loan coins were under the signal lights, and several tokens from the decentralized financial industry (Defi) and blockchain intelligent contract service platform units showed deep tones.

Among the biggest winners on Thursday, the local crackdown on the decentralized exchange Uniswap showed that Uni had risen nearly 4.5% in the past 24 hours, trading at more than $7.20. The Avax dynamic password for the first-tier blockchain technology landslide soared nearly 3.4%, with a recent trading price exceeding $22. The rise in Altcoins was part of a broader market rally after the Fed meeting announced a less aggressive tightening of fiscal policy.

ETH, the world's second-largest encrypted currency by market capitalization, recently traded at more than $1650, up less than a percentage point since Wednesday.

BTC recently traded at more than $23560, about the same in the past 24 hours, albeit at a slight loss. Since the announcement at the Fed meeting, Bitcoin has traded slightly between $23700 and $24200, and fell somewhat on Thursday night.

After considering that the login password market has performed well in the WJB market index for most of the day, it has been similar recently.

The performance of the login password market is related to the rebound of the traditional market after the annual interest rate is announced. The Nasdaq composite index and the s & p 500 index, dominated by energy stocks, closed up 3.2% and 1.4% respectively, a day after Jerome indicated that the "anti-inflationary process" had already been "gradual."

Stocks with encryption leverage also soared: trading center Coinbase (Coin) soared 24 per cent, while software developer MicroStrategy (MSTR), which has a large bitcoin asset allocation, rose 9 per cent. Bitcoin miner Marathon data Holdings (Mara) rose 6.3 per cent.

The good level of digital currency suggests that "the bottom of this [reduction] cycle is probably already the recovery part of the market for operating timeouts," Joe Tsiolkovsky, CEO and founder of Relm Insurance, a car insurance company dedicated to login passwords, told WJB.

Ziolkowski said: "both shareholders and organizational investors are planning more and more assets to encrypted financial management." "if the collapse of FTX, [Terra] and Three Arrow [Capital] is over, this trend is likely to continue."

Ben McMillan, chief investment officer of IDX Digital Assets, the encryption investment manager, said Bitcoin and the broader encryption market were "at an early stage in this risky asset auction".

McMillan added in an email: "I wouldn't be surprised if we saw the login password aborted on the premise of the stock market 'chase'."

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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