Bitcoin
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$58,639.00 0.82606
Bitcoin price
Ethereum
Ethereum (ETH)
$3,151.67 0.39657
Ethereum price
BNB
BNB (BNB)
$530.34 -0.69849
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Solana
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$139.49 0.8312
Solana price
XRP
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$0.5316280 14.15937
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$0.0000172 4.32374
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$0.0000086 -1.81229
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$0.0000224 -1.55502
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Bitcoin
Bitcoin (BTC)
$58,639.00 0.82606
Bitcoin price
Ethereum
Ethereum (ETH)
$3,151.67 0.39657
Ethereum price
BNB
BNB (BNB)
$530.34 -0.69849
BNB price
Solana
Solana (SOL)
$139.49 0.8312
Solana price
XRP
XRP (XRP)
$0.5316280 14.15937
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.32374
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -1.81229
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.55502
Bonk price
Bitcoin
Bitcoin (BTC)
$58,639.00 0.82606
Bitcoin price
Ethereum
Ethereum (ETH)
$3,151.67 0.39657
Ethereum price
BNB
BNB (BNB)
$530.34 -0.69849
BNB price
Solana
Solana (SOL)
$139.49 0.8312
Solana price
XRP
XRP (XRP)
$0.5316280 14.15937
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.32374
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -1.81229
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.55502
Bonk price
Bitcoin
Bitcoin (BTC)
$58,639.00 0.82606
Bitcoin price
Ethereum
Ethereum (ETH)
$3,151.67 0.39657
Ethereum price
BNB
BNB (BNB)
$530.34 -0.69849
BNB price
Solana
Solana (SOL)
$139.49 0.8312
Solana price
XRP
XRP (XRP)
$0.5316280 14.15937
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000172 4.32374
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000086 -1.81229
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -1.55502
Bonk price

Altcoin market rises amid Bitcoin rally and U.S. interest rates

altcoin-market-rises-amid-bitcoin-rally-and-u-s-interest-rates
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Markets
Altcoin market rises amid Bitcoin rally and U.S. interest rates

Cryptocurrency prices reacted positively to the Federal Reserve’s latest decision on interest rates on Nov. 1.

Defi tokens like AAVE and Uniswap (UNI) led the way, rising over 20% in a moment. AAVE rose to $98.13 and Uniswap’s UNI rose to $4.80. These tokens are thriving due to the overall significance of the cryptocurrency rally.

In the case of Uniswap, the rally means demand for cryptocurrencies will increase as investors try to follow the crowd. In the stock market, it was already seen Coinbase’s share price skyrocketed this week. When writing, UNI trades at $4.65, up 13.6% in 24 hours.

Uniswap price | Source: CoinMarketCap
Uniswap price | Source: CoinMarketCap

Likewise with AAVE: as cryptocurrency prices rise, there is a possibility that demand for its lending projects will continue. Indeed, the total value locked in many DeFi protocols has jumped, according to DeFi Llama. Now AAVE is trading at $94.21, up 14.11% in 24 hours.

Altcoin market rises amid Bitcoin rally and U.S. interest rates - 1
AAVE price | Source: CoinMarketCap

The rise in altcoins comes after Bitcoin went higher on November 1st. At that moment, BTC approached the $36k level, near which the coin was last in May 2022. Afterward, Bitcoin entered a correction.

Bitcoin rose amid the US Federal Reserve’s decision to leave its key interest rate unchanged for the second time. Refusal to further increase it is a positive signal for the market. Such actions may indicate that a rate-cut period is approaching.