Following the FED interest rate decision announced the other day, sales are dominant in the Bitcoin and altcoin markets. As a result of the FOMC meeting, the American Central Bank decided to keep the policy rate constant at 5.25-5.50%. Speaking to the press after the meeting, FED Chairman Powell announced that the peak for the interest rate increase has not yet been reached.
Following this statement, the dollar index exceeded 105 points and there was a sale in the US and European stock markets. Strengthening US dollar; It had a negative impact on Bitcoin, Ethereum and altcoin prices.
According to CoinGecko’s data, Bitcoin lost -1.5% in value in the last 24 hours. The loss was greater in the largest altcoin unit, Ethereum. ETH fell -2.3% below $1,600.
While sales continued in the general market, some altcoin units rose and attracted all the attention. In this article, we will talk about these cryptocurrencies. We only considered the 100 largest altcoins when examining daily gains and losses.
Immutable X (IMX)
IMX, the cryptocurrency belonging to Immutable X, the leading NFT marketplace of the Ethereum network, rose 20.9% in the last 24 hours.
The altcoin, which is currently trading at $0.64, had risen to 0.85 in the morning. Cryptocurrency researchers have detected large IMX purchases on the South Korea-based Upbit exchange.
You can find detailed news about this subject here.
Algorand (ALGO)
According to CoinGecko data, the second altcoin that gained the most value in the last 24 hours was ALGO. Algorand is currently selling at $0.097.
There is no specific development in the crypto press yet for the ALGO price to rise. Project officials recently announced that they will hold a hackathon event on November 15, 2023.
MultiversX (EGLD)
EGLD, the altcoin unit of the MultiversX project, which focuses on decentralized applications and blockchain projects, gained 2.9% in value in the last 24 hours. The return advantage of the cryptocurrency over Bitcoin was 4.9%.
Similar to Algorand, there is no particular reason for the EGLD price to diverge from the market yet. The cryptocurrency is currently priced at $26.16.
