On September 19, market data showed a sudden surge in altcoin prices right after the Federal Reserve cut the interest rate by 50 basis points. This move triggered significant gains in several altcoins over the past day.
- Chain (KDA) rose 22.64% to $0.65 and the asset was the clear leader of the rally.
- Saga (Saga) gave the second best result by ending with a rise of 22.39% after the movement, to $2,452.
- Six (SIX)On the other hand, it delivered one of the most significant, 19.97%, which boosted its price by $0.3382.
- Blur (BLUR) rose 17.1% to $0.208.
- Celestia (TIA) marked a gain of 14.88% in the exchange.
These gains echo the stock market’s response to the Federal Reserve cutting rates, as people begin to seek out high-risk cryptocurrencies. A lower interest rate typically leads to higher liquidity, making altcoins suitable for people who want to take advantage of current market conditions.
Fed rate cuts send bitcoin and altcoins up 24%
US Federal Reserve Chairman Jerome Powell wanted to convey that the move is primarily aimed at stabilising prices. As a result of the announcement, the digital asset bitcoin rose by 4.31% over the 24-hour period, reaching a three-week high of $62,336. On the other hand, smaller tokens such as SUI, TAO and FLOKI saw an even more significant advance, with their price rising by as much as 24%.
The continued breakout of altcoins can be a great window for traders who want to take advantage of the long-term buying wave or open long positions. Since the market is very dynamic and the stock markets move, the important thing is always to act quickly to make the most of the potential gains.
Discover emerging altcoins that are gaining ground and speculate on how far the market can generate potential gains while trends are bullish. Get to know the altcoins that are preparing to take the spotlight due to the changing financial environment!
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(tags to translate)Altcoins
