Altcoins Surged More Than 14% After the Fed’s 50 Basis Point Hike
On September 19, market data displayed a sudden surge in altcoin prices right after the Federal Reserve cut the interest rate by 50 basis points. This measure led to significant gains in several altcoins within the last day.
- Kadena (KDA) surged by 22.64% to $0.65, and the asset was the clear leader in the rally.
- Saga (SAGA) gave it the second best by ending up 22.39% post-move, to $2.452.
- Sei (SEI), on the other side, delivered one of the most significant, 19.97% which pushed its price up by $0.3382.
- Blur (BLUR) went up by 17.1% to $0.208.
- Celestia (TIA) marked a 14.88% gain in the exchange.
These gains evoke the stock market’s response to the Federal Reserve’s reducing rates as people begin pursuing high-risk cryptocurrencies. A lesser interest rate usually leads to increased liquidity, which makes altcoins suitable for people who want to take advantage of the current market conditions.
Fed Rate Cut Sparks Bitcoin and Altcoin Surges Up to 24%
The chairman of the US Federal Reserve, Jerome Powell, was keen to convey that the move primarily aims to bring price stability. As a consequence of the announcement, the digital asset Bitcoin traded 4.31% higher over the 24-hour period with $62,336 being a three-week high. On the other hand, the lower tokens like SUI, TAO, and FLOKI had an even more significant way and they had the price go up to 24%.
The continued breakout of altcoins can be a great window for traders who wannna ride the wave of a long buying or open long positions. Given that the market is very dynamic and the exchanges move, what is important is always to act fast to get the maximum out of the potential gains.
Discover emerging altcoins gaining traction and speculate on the extent to which the market can make potential gains while the trends are upward. Get to know the altcoins being prepared to take on the limelight due to the shift in the financial environment!
