After the FOMC meeting, there was a noticeable increase in investors’ confidence in risky and volatile assets. The significant rise in cryptocurrency prices was closely monitored by investors.
The cryptocurrency market experienced a strong surge as the American Federal Reserve did not change interest rates for the third consecutive time. This situation indicates an increase in investor and trader confidence in the market.
The price of Bitcoin remained relatively stable with a slight increase of 0.10%, at a level of $42,767.35. The rise in market confidence appears to have prevented a drop in the Bitcoin price, and investors maintain a positive outlook for the future of Bitcoin.
The price of a leading altcoin like Ethereum rose by 1.2%, reaching $2,276, and its market value increased by 14.51% to $12.91 billion. The price of XRP also rose by 1.64%, reaching $0.6343.
A significant altcoin like Solana (SOL) pleased its investors with a 6.78% increase over the last 24 hours, currently trading at $74. Bonk saw a record increase of 108.05% to $0.00002929 following the news of its Binance listing, and its trading volume jumped by 204.26% to $828.27 million.