Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$116,840.00
4.76%$2,952.40
6.27%$2.74
11.52%$687.76
2.86%$162.35
3.71%$0.999866
-0.01%$0.202611
12.20%$0.298786
2.68%$2,946.64
6.05%$0.733519
16.41%$45.19
7.85%$116,549.00
4.58%$3,562.84
6.33%$3.46
6.69%$0.363184
24.13%$530.77
5.03%$15.53
8.25%$20.95
7.65%$0.199274
12.16%$8.93
-0.59%$3,160.36
6.17%$0.00001343
7.98%$96.20
5.15%$2.96
3.45%$0.999676
-0.01%$2,949.01
6.04%$46.57
0.06%$1.003
0.26%$3.99
9.71%$325.41
1.19%$116,789.00
4.68%$1.002
0.02%$4.50
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8.69%$0.00001252
13.43%$305.80
2.96%$0.485074
1.32%$387.32
11.16%$4.97
8.27%$2.57
9.17%$1.18
0.00%$0.099196
5.24%$49.80
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3.69%$18.55
5.94%$1.00
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16.94%$4.69
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7.69%$16.33
1.74%$0.224613
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0.37%$0.733887
5.76%$1.08
15.96%$0.326787
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6.70%$0.00002269
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9.48%$0.491639
8.47%$0.999741
0.00%$11.32
0.64%$0.987062
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140.89%$3,362.26
6.04%$1.00
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12.68%$0.02084688
9.01%$1.29
10.63%$1.28
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16.25%$0.076237
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31.85%$0.680945
15.21%$1.78
10.82%$0.756722
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6.21%$3,098.51
5.98%$116,966.00
5.16%$1.00
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1.48%$0.00009896
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0.01%$0.504427
11.95%$116,565.00
4.59%$3,353.46
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4.96%$689.66
3.16%$117,612.00
5.51%$0.640275
13.70%$0.999229
-0.06%$2.50
5.39%$0.546135
5.09%$3,195.58
6.71%$182.33
3.77%$3,351.06
1.13%$212.56
3.90%$0.809144
10.18%$0.0174316
12.76%$0.856219
10.30%$2.80
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8.26%$0.01476997
12.67%$0.291993
8.50%$111.75
0.01%$10.74
0.01%$42.53
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5.87%$0.797323
9.92%$0.117611
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6.28%$0.00000166
28.71%$0.604149
7.25%$1.089
0.15%$3,159.56
7.34%$0.00924065
2.79%$116,697.00
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14.36%$0.01669805
19.70%$0.057476
14.95%$0.409086
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0.06%$1.53
8.25%$0.668842
6.22%$1.68
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22.21%$0.148352
20.37%$0.530528
34.41%$26.34
5.65%$0.201959
11.77%$45.26
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6.03%$0.999438
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10.64%$0.224986
0.62%$3,136.54
6.16%$0.424408
5.49%$0.999914
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2.25%$6.28
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0.91%$1.00
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8.95%$7.71
0.36%$15.45
8.28%$1.39
11.28%$0.171505
8.15%$3,259.43
6.27%$0.355261
11.03%$6.41
12.06%$0.302299
38.72%$2.52
10.55%$0.058119
16.31%$0.00002093
7.04%$0.00446715
11.16%$1.093
-0.05%$0.998921
0.34%$116,754.00
5.51%$0.154387
3.29%$1.66
10.09%$0.04045909
6.56%$0.999617
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6.00%$0.544641
5.08%$2,944.65
6.23%$2,942.46
5.89%$0.00711832
10.62%$0.370234
10.04%$1.00
0.04%$0.078758
13.41%$0.901086
17.62%$0.368262
9.41%$0.03627218
2.81%$2,945.24
5.95%$1.21
4.50%$116,389.00
4.64%$0.00006398
6.16%$0.527593
4.98%$0.01811654
2.90%$177.00
3.46%$0.753657
8.84%$20.89
1.02%$0.231407
12.81%$127.21
7.09%$1.22
5.76%$11.26
6.21%$3,563.73
5.99%$0.999535
-0.05%$0.00373281
10.58%$0.317541
4.45%$0.00377325
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0.01%$1.002
0.14%$0.999448
-0.02%$25.61
8.15%$21.07
8.16%$0.00443875
11.33%$0.660705
7.51%$118,201.00
6.38%$0.999367
-0.10%$0.0298359
8.40%$2,344.02
4.66%$1.02
-0.04%$3,096.39
6.38%$0.00000141
5.55%$6.78
6.68%Reading
The market's largest two cryptocurrencies in Bitcoin and Ethereum have both enjoyed mild gains on the heels of the latest Consumer Price Index (CPI) report.
The report measures the rate of change for the price of a basket of goods, including milk and used cars, and is used as one metric to calculate inflation in the economy.
This month, prices within this basket of goods rose 0.1%, which, compared to the last report in October (0.4%), is a slight decrease in the rate, suggesting that inflation is indeed cooling.
Bitcoin jumped by around 4% over the past 24 hours and is now trading at roughly $17,600. Ethereum rose even higher, jumping almost 6% over the past 24 hours to trade at around $1,320. Other key gainers within the top ten cryptocurrencies included XRP (4%), Dogecoin (5%), and Polygon (4%)
Insofar as these figures report on the extent of inflation in the American economy, the Federal Reserve usually reacts by raising or lowering interest rates. Of late, the Fed has raised rates at an unprecedented pace to reel in inflation. Given the evidence that inflation is slowing as well as recent statements from the Fed last month, it is likely it will continue to raise rates but perhaps not as firmly.
Bitcoin and the wider crypto market jumped Wednesday after Federal Reserve Chair Jerome Powell said in a speech that December would likely bring smaller interest rate hikes. The biggest cryptocurrency by market cap was trading for $17,102 at the time of writing—up 2% in the hour after Powell’s speech and over 4% in the past 24 hours, according to CoinGecko. Ethereum, the second largest digital asset, jumped even more and was up over 6% in 24 hours, trading hands for $1,287. Every other major...
Previous rate hikes have been closer to 0.75%, whereas the next raise is expected to be closer to 0.5%.
Higher interest rates have a ripple effect on small businesses, individuals, stocks, and even cryptocurrencies. As interest rates are raised, it increases the cost of borrowing from banks as debt becomes much more expensive. Simultaneously, cash in savings accounts can begin earning an attractive yield with far less risk than in the stock market.
Thus, as rates rise, money slows within the economy as cash doesn't move as freely attempting to chase higher returns.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
Dogecoin (DOGE) is pulling the meme coin market higher Friday, jumping 12% in the last 24 hours as traders prepare for Solana meme coin launchpad Pump.fun’s initial coin offering (ICO) for its PUMP token. Meme coins on the whole are outperforming the majors like Bitcoin and Ethereum. The category is up 13.9% in the last 24 hours according to data from CoinGecko, compared to gains of 4.9% and 6.6% for BTC and ETH, respectively. At a current price above $0.20, DOGE has now spiked 23% over the la...
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