Top Crypto Gainers Today on DEXScreener – MUGI, MOODENG, RAZ
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
As major cryptocurrencies see choppy price action in the wake of a larger-than-expected 50bps rate cut from the US Federal Reserve, and following the US central bank’s more dovish than expected guidance related to future rate cuts, traders are turning to DEX markets as they hunt for top crypto gainers today.
Bitcoin (BTC) was last trading near $60,000, having tested $61,000 earlier in the day.
Other major cryptos, meanwhile, like Ethereum (ETH) and Solana (SOL), were down roughly 2% in the past 24 hours, according to CoinMarketCap.
The Fed’s latest dot-plot of interest rate projections projected a further 150bps of rate cuts by the end of next year, taking interest rates to just above 3.0%.
A rate-cutting cycle like this should drastically improve liquidity conditions across global financial markets.
And that should be a major tailwind for major cryptos.
However, in the near future, investors might worry that the Fed’s rushed start to the latest interest rate cutting cycle might mean that the Fed is concerned about a potential incoming US recession.
Friendly reminder.
10 of the last 14 Fed rate cut cycles directly led to a Recession.
The only times they didn't – 1966, 1984, 1995, and 1998 – the economy was noticeably stronger than it was today.
Less debt. Better GDP growth. More savings. And a reduction in unemployment,… pic.twitter.com/xSYqlrl4ah
Recession fears might continue to weigh on the market, as they have for the last six or so weeks.
If trading conditions are bearish across major cryptos in the short term, traders may be
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