October 2024 – Forbes Advisor INDIA
Recent developments, such as the U.S. Federal Reserve’s recent 50 basis point rate cut and the Bank of Japan’s stable interest rates decision, have given the crypto market a fillip.
On Sept. 18, the Federal Reserve announced a 0.5% point cut in its benchmark interest rate, marking the U.S. central bank’s first rate cut in four years. The rate cut announcement moderately boosted the total market capitalization of cryptocurrencies by approximately 4%, reaching $2.1 trillion as of Sept. 18, 2024. As of Sept. 26, the total cryptocurrency market capitalization is $2.24 trillion, up by approximately 6.67%.
The rate cut generally refers to a reduction in the federal interest rate. It lowers borrowing costs, supports…
