Bitcoin Pumps as Investors Awaits Fed's Verdict on Interest Rate
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The crypto market cap has increased by $47.16 billion since Saturday. It’s now at $1.163 trillion. Similarly, the market valuations of Bitcoin and Ethereum have risen by 5.56% and 5.12% to $540.35 billion and $228.77 billion, respectively.

All the top ten cryptocurrencies have rallied over the last 24 hours. Ethereum becomes the biggest gainer after posting a 3.07% growth. Litecoin takes the second position with gains of 2.53%.

Stablecoins Market

The most traded stablecoin, USDT, has seen its market valuation grow by $163.27 million to $83.17 billion. USDC’s market cap has posted net inflows of $95.34 million, rising to $29.07 billion as of this writing. Conversely, BUSD’s market valuation stands at $5.27 billion after losing $54.96 million to net outflows.

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BTC trades at $27,818 after growing by 2.42% in the last 24 hours. The coin started rallying on Saturday following news that United States President Joe Biden and Kevin McCarthy, the Republican negotiator, had reached an agreement to suspend the $31.3 trillion debt ceiling until January 2025. Further, according to United States Congressman Warren Davidson’s tweet, the deal temporarily blocked the proposed 30% tax on crypto mining companies.

Bitcoin rested the $28,429 resistance level on Sunday evening before retracing to its current price. Whether the bulls can sustain this uptrend over the coming days remains to be seen.

BTC’s market share is now at 46.71%.


As mentioned earlier, ETH surged 3.07% in the last 24 hours. It’s priced at $1,904 as of Monday evening. The token reached its daily peak price of $1,927 at around noon. It’s worth highlighting that the current price is slightly above the 20-day Exponential Moving Average ($1,895). That means the bulls might push the price further to the resistance level of $1,956.

Ethereum is dominating 19.72% of the crypto market.

Top Five Gainers

FanstasyGold: FGC’s rally over the past two weeks was exceptional. It rose by 60.41% during that period. Today, the token is up 35.04% to trade at $7.6161 as of this writing. The market cap of FGC stands at $1.07 billion. Over the weekend, the project completed its expansion to BNB Smart Chain.

TomoChain: With a market valuation of $165.12 million, TOMO is priced at $1.633 after a 30.61% growth.

ARAW: The token grew significantly last week, adding 44.56% to its value. The momentum has continued in the previous 24 hours, rising by 20.04% to trade at $0.065 as of Monday evening. ARAW’s market capitalization stands at $129.87 million.

Open Campus: Following the project’s announcement regarding the release of its NFT collection, dubbed Genius, EDU has seen gains of 18.12% to change hands for $1.418. Its market cap stands at $205.78 million.

Global Currency Reserve: This project is set to expand to Aptos and BNB Smart Chain in the coming weeks. Over the last 24 hours, GCR added 11.15% to its value to trade at $1.142. Its market cap stands at $122.26 million.

Top Five Losers

inSure: SURE has dropped by 5.92% to become the top loser. It’s down 25.29% for the week. With a market cap of $112.97 million, SURE is trading at $0.0042.

RenderToken: RNDR has shed 4.31% of its value in the past 24 hours. It trades at $2.601 with a market cap of $952.91 million.

Polymath Network: POLY’s value has declined by 21% in the last thirty days. Today, the crypto asset is down 2.67% to change hands for $0.162. Its market capitalization stands at $150.24 million.

Aptos: APT has plunged 1.56% to trade at $8.456 as of Monday evening. Its market valuation stands at $1.67 billion. The project will host a Twitter Space on Tuesday to give updates on various issues.

EOS: With a market capitalization of $978.56 million, EOS is valued at $0.895 after declining by 1.47%. It appears that the EOS blockchain’s recent integration with the token leasing platform Chintai has not attracted the interest of EOS holders.

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James Davis

By James Davis

James Davis is a prominent crypto writer and analyst at Herald Sheets, recognized for his well-researched articles and thorough analysis of the dynamic digital currency market. Holding a degree in Economics from Harvard University, James combines his academic background with a keen interest in cryptocurrency to provide readers with the latest industry insights and trends.