BTC, ETH up ahead of FOMC decision on interest rates
By Manoj Dharra
BTC+ETH — Bitcoin currently trades at $83,430, up by 1% in the last twenty-four hours. Ethereum, the second-largest cryptocurrency by market cap, was changing hands around $1978, up by almost 4.5% in the similar time frame. Meanwhile, the global crypto market cap is $2.72tn, up by 0.8% over the last day.
Meanwhile, The Bank of Japan held interest rates steady at 0.5%, in line with expectations, as the central bank weighed the potential impact of U.S. President Donald Trump’s tariffs.
BlackRock Bitcoin ETF Inflows At Six Week High as IBIT scooped a total of 2,660 BTC on Tuesday worth $217 million. Long-term Bitcoin holders have accumulated 167,000 BTC—worth $14 billion—in the past month.
Minnesota senator proposes Bitcoin Act. The bill aims to “promote prosperity” for Minnesotans by allowing the Minnesota State Board of Investment to invest state assets in Bitcoin and other cryptocurrencies, just as it invests in traditional assets.
Justin Sun announces wrapped TRON (TRX) is coming to Solana. TRX Jumps 5% (CMP $0.2326) & SOL Jumps 2% (CMP: $126). There are still no details on how TRX will be introduced to Solana – whether through a bridge, as collateral, or through other means. The most bullish scenario envisions more growth for the Solana version of TRX, as it would tap a wider community and US-based traders.
21Shares Files for Polkadot ETF on Nasdaq; DOT Jumps over 7% (CMP $4.54)
Toncoin’s price jumped 30% in the last week as more people got interested in its ecosystem. After Telegram founder Pavel Durov left France for the first time since his arrest in August 2024 and returned to Dubai, investors started feeling positive about TON’s future. TON is trading around $3.61, reflecting a 5% daily gain.
OpenZeppelin Enhances Stellar (XLM)’s Smart Contract Capabilities; XLM Jumps 5% (CMP: $0.2784). OpenZeppelin’s Contract Wizard now supports Stellar (XLM)’s platform, simplifying the creation of secure and standardized smart contracts for the network.
According to recent data from cryptorank.io and intotheblock, Bitget token ranks at the top of the list for the highest percentage of holders in profit — with around 95.6% of $BGB holders currently seeing gains. As a result, BGB token rose over 5% today, trading at $4.74.
Outlook: Analysts are of the opinion that the Fed is likely to keep rates at 4.25%-4.5%, delaying cuts until mid-2025 and any hint of future cuts could boost Bitcoin and altcoins amid rising risk appetite.
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