New Delhi: Crypto market soared on Thursday as Federal Reserve hiked interest rates in line with market expectations. Many market observers believed markets had already accounted for the Fed’s rate hike, which the bank has been foreshadowing for over a week.
Powell’s comments over ‘no recession’ also supported the sentiments.
Ethereum, Polkadot and Polygon rallied between 15-17 per cent each. Cardano, Solana and Bitcoin also posted double-digit rises.
The global cryptocurrency market cap was at the $1.06 trillion mark. The total trading volume, meanwhile, jumped more than 40 per cent, close to $88.43 billion.