PANews reported on August 23rd that according to Cointelegraph, the cryptocurrency market rallied on Saturday, with market sentiment returning to "greed" after dovish remarks from US Federal Reserve Chairman Jerome Powell sparked speculation about a possible interest rate cut in September. Axie Infinity co-founder Jeffrey "Jiho" Zirlin noted that ETH is the most interest rate-sensitive cryptocurrency, as the yield gap between depositing stablecoins in DeFi and keeping US dollars in banks widens as interest rates fall. However, while St. Louis Fed President Alberto Musallem indicated that more time is needed to decide whether to support a rate cut, some cryptocurrency market participants anticipate further gains if Powell hints at a rate cut.PANews reported on August 23rd that according to Cointelegraph, the cryptocurrency market rallied on Saturday, with market sentiment returning to "greed" after dovish remarks from US Federal Reserve Chairman Jerome Powell sparked speculation about a possible interest rate cut in September. Axie Infinity co-founder Jeffrey "Jiho" Zirlin noted that ETH is the most interest rate-sensitive cryptocurrency, as the yield gap between depositing stablecoins in DeFi and keeping US dollars in banks widens as interest rates fall. However, while St. Louis Fed President Alberto Musallem indicated that more time is needed to decide whether to support a rate cut, some cryptocurrency market participants anticipate further gains if Powell hints at a rate cut.
Axie Infinity Co-founder: Ethereum is the cryptocurrency most sensitive to the Federal Reserve's interest rate
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PANews reported on August 23rd that according to Cointelegraph, the cryptocurrency market rallied on Saturday, with market sentiment returning to "greed" after dovish remarks from US Federal Reserve Chairman Jerome Powell sparked speculation about a possible interest rate cut in September. Axie Infinity co-founder Jeffrey "Jiho" Zirlin noted that ETH is the most interest rate-sensitive cryptocurrency, as the yield gap between depositing stablecoins in DeFi and keeping US dollars in banks widens as interest rates fall. However, while St. Louis Fed President Alberto Musallem indicated that more time is needed to decide whether to support a rate cut, some cryptocurrency market participants anticipate further gains if Powell hints at a rate cut.
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