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Cryptocurrency News Articles
The Fed Rate Cut Revives the Crypto Market, Boosting Bitcoin, While Investors Eye Lunex Network's Potential 4500% Gains
Sep 30, 2024 at 11:21 pm
The Fed rate cut, for the first time since March 2020, has brought life back to the crypto market's dimming embers.
The Federal Reserve’s decision to cut interest rates for the first time in four years has had a mixed impact on the major cryptocurrencies.
While Bitcoin’s price rose by 4.2% following the announcement, Solana’s price initially rose but later fell.
However, both cryptocurrencies are still up year-to-date, with Bitcoin trading at $63,000 and Solana at $156.
The crypto market as a whole is also up, with a total market cap of $2.1 trillion, a 0.6% increase in the last 24 hours.
This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The total crypto market cap today is $2.1 trillion, which represents a 0.6% decrease in the last 24 hours and a 0.7% decrease in the last 7 days.
Cryptocurrencies are once again in the green as the Federal Reserve’s decision to cut interest rates for the first time in four years continues to drive up the price of major cryptocurrencies.
Bitcoin’s price rose by 4.2% following the announcement, bringing its price up to $63,000.
Solana’s price also initially rose but later fell, leaving it at $156. Both cryptocurrencies are still up year-to-date, with Bitcoin’s price up by 43.3% and Solana’s price up by 11.1%.
Investors are now eyeing the potential for early investors in Lunex Network to achieve gains of 4500%.
The up-and-coming Lutex Network AMM-powered DEX is said to be capable of facilitating decentralized asset exchange at lightning speed.
This new crypto token is said to be hotly anticipated by investors, who are setting their sights on it rather than Bitcoin and SOL.
Far better than Uniswap and Pancakeswap, Lunex Network’s scalable DEX aggregator’s vision has had analysts predicting a 4500% gain for early investors.
Solana is facing its most critical test since the post-FTX days as it grapples with bearish signals and a key resistance level.
While Bitcoin’s price blew to a new ATH, Solana toed the same bullish line but has now fallen to $156 after getting rejected from a previously broken ascending trendline.
However, the Fed rate cut did buff SOL price, but on-chain metrics paint a bleak outlook.
The network’s declining development activity and a long-to-short ratio below one signal waning confidence.
Currently, the SOL price is in the green after gaining 11% in 7 Days.
Solana price found itself at a crossroads this week as the crypto market reacted to the Federal Reserve’s decision to cut interest rates for the first time in four years.
After initially rising following the announcement, Solana’s price later fell, leaving it at $156 at the time of writing.
However, Solana’s price is still up year-to-date, having risen by 11.1% since the beginning of 2023.
Investors are now setting their sights on the potential for early investors in Lunex Network to achieve gains of 4500%.
The up-and-coming Lutex Network AMM-powered DEX is said to be capable of facilitating decentralized asset exchange at lightning speed.
This new crypto token is hotly anticipated by investors who are setting their sights on it rather than Bitcoin and SOL.
The Federal Reserve’s decision to slash interest rates for the first time in four years sent crypto market valuation up, particularly Bitcoin’s price.
The Fed’s dovish move, which marks a shift away from an aggressive rate-hiking campaign, brought optimism that saw Bitcoin’s price jump 4.2% from $57,600 to $60,000 in a matter of hours.
Currently, Bitcoin is trading at $63,000, with a 6% increase in the last 30 days.
However, in all honesty, Bitcoin’s price can barely go 2x even in the Fed rate cut’s afterglow.
But Lunex Network’s 4500% prediction and huge DeFi potential, which seems to be on par with Bitcoin’s DeFi achievement, are what many investors are heading for.
Fresh off a record-breaking 2023 first quarter, crypto investors are setting their sights on the next big thing.
With Solana and Bitcoin already reaching new heights this year, investors are now looking at Lunex Network to potentially deliver astronomical gains.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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