The cryptocurrency market has moved into the growth phase amid the U.S. Federal Reserve’s decision not to raise the prime rate.
The official website of the U.S. Federal Reserve published a decision to keep the benchmark lending rate steady at 0,25% per annum. Against this news, the crypto market rose by 3,3% in less than a day. The current market volume exceeded $2,27 billion, according to CoinMarketCap. Almost all assets are in a green phase.
The following tokens are showing the biggest growth out of the top 50 cryptocurrencies in the last 24 hours:
- Helium (HNT) – 17,3%;
- Avalanche (AVAX) – 14,7%;
- Fantom (FTM) – 13,8%;
- Hedera (HBAR) – 12,6%;
- Terra (LUNA) – 11,2%, etc.
Of the top 10, Solana (SOL) shows the greatest growth – 11,1%. Bitcoin (BTC) rose by 1,6%, Ethereum (ETH) – 4,63%. The information is as of 1 p.m. (GMT+2) according to CoinMarketCap service.
Major market indices also rose following the Fed’s decision.
- NASDAQ Composite – 2,15%;.
- S&P 500 – 1,63%;
- Dow Jones – 1,08%.
Among other things, the regulator’s statement revealed that instead of reducing the purchase of bonds, the Fed plans to increase the monthly volume of their issues up to $30 billion. Also, the agency plans three key rate hikes in 2022.
