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Following the FOMC meeting, investors’ confidence in more risky and volatile assets seems to have increased more distinctly. As of today, a significant price surge in crypto prices has not gone unnoticed by investors.
Will Bitcoin and Altcoins Rise?
The rise in the markets mainly occurred after the latest announcement from the US Fed, which marked the third consecutive time interest rates were left unchanged. This announcement reflects an increase in market confidence among crypto traders and investors, as evidenced by the market value.
Despite a 0.10% increase today, the price of Bitcoin remained at $42,767.35 with relatively neutral movement. The rise in market confidence seems to be preventing a decline in Bitcoin’s price, and investors continue to maintain a hopeful outlook for a Bitcoin price increase in the near future.
Moreover, Ethereum, the leader among altcoins, saw a 1.2% increase in price within 24 hours and is currently trading at $2,276, hosting a rising trend. This situation is accompanied by a 14.51% increase in its market value, which now stands at $12.91 billion. The notable altcoin XRP also saw a 1.64% increase, reaching $0.6343.
Another significant altcoin, Solana (SOL), made its investors happy with a 6.78% increase in the last 24 hours. Solana is currently trading at around $74, and its volume has increased by 20.24%, reaching a volume of $2.57 billion after the rise.
Remarkable Altcoins Catching Attention
Following news of a Coinbase listing yesterday, recent reports have announced that Bonk will be listed on Binance, stirring hot rumors among memecoin supporters. This news impacted the price of BONK, which experienced an extraordinary 108.05% increase within 24 hours, rising to $0.00002929. In addition, the token’s trading volume also underwent a change, with an incredible 204.26% increase, reaching $828.27 million in the last 24 hours.
The price of Pepe coin saw a modest 1% rise in the last 24 hours. At the time of writing, it is trading at $0.000001418. Despite experiencing ups and downs throughout the week, the token’s price appears to be regaining upward momentum. In addition, the token’s trading volume also witnessed a significant 32% increase.
Another altcoin that has garnered a lot of attention today is the newly introduced 1000SATS. The price of the altcoin increased by 32.95%, rising to $0.0008148. The 24-hour trading volume of the token saw a 100.79% increase, reaching an astonishing level of $686.72 million.
