Following the FOMC meeting, investors increased their confidence in risky and volatile assets. The significant rise in the prices of cryptocurrencies caught the attention of investors.
The decision of the US Federal Reserve not to raise interest rates for the third time had a positive reflection on market values. Crypto investors and traders increased their confidence in the market.
The price of Bitcoin remained stable at the level of $42,767.35 with a small increase of 0.10%. The rise in market confidence prevented the fall of Bitcoin’s price, and investors are optimistic about the near future for Bitcoin.
Ethereum’s price increased by 1.2% in the last 24 hours, reaching $2,276, and its market value rose by 14.51% to $12.91 billion. The price of XRP also increased by 1.64%, rising to $0.6343.
Solana (SOL) pleased its investors with a 6.78% increase in the last 24 hours, trading at the level of $74. Binance announced that it would start listing Bonk, and the price of BONK increased by 108.05%. Other altcoins like Pepe coin and 1000SATS also experienced notable price increases.