This Week in Coins: Bitcoin Jumps on Fed Decision, Trump Launches DeFi Project

Bitcoin He shot this week Long awaited It fell from the Federal Reserve on Wednesday. The largest digital coin is now trading at $63,125 per coin. basis To CoinGecko – more than 5% seven-day increase.

The jump in rates came after Jerome Powell announced that the central bank would cut rates by 50 basis points, while some were expecting a smaller cut of 25 basis points. In the year It raised interest rates to a two-decade high in 2022 to tackle inflation. Investors were expecting a cut, but didn't know how big it would be.

But after Powell made the announcement, traders quickly returned to riskier assets like stocks and crypto—which typically fare better in a low-interest-rate environment.

It's worth noting, though, that the largest digital coin has a ways to go before it hits the record price of $73,737 set this March.

The second largest cryptocurrency by market value, EthereumIt was up about 6% last week. The coin rallied even as investors continued to pull out of funds. Newly Approved Exchange Traded Funds (ETFs).

In other news, Donald Trump finally kick off His crypto project. In a live interview with Rogue Radio (DecryptA sister company), the Republican presidential candidate and his partners' decentralized finance (DeFi) project, named Global Freedom Financial, offers lending and borrowing services for cryptocurrencies on the Ethereum network.

Elsewhere, MicroStrategy continues to buy Bitcoin; Increase Another $458.2 million orange coins to his balance sheet, and the judge He was thrown Ethereum giant software concussion filed against US Securities and Exchange Commission (SEC).

and from the major coins and tokens at market value; Solana It continued to grow, adding 8% to its value during the week. It is the fifth largest coin. Price now For $147.69, according to CoinGecko.

But Avalanche It's this week's winner, jumping 11% in seven days. At present, handicrafts for 27.57 US dollars.

Edited by Andrew Hayward.