
FXStreet Team
FXStreet
Pi Network (PI) price sustains a steady move in a tight range above $0.3500 at press time on Thursday, extending the sideways trend. The consolidation phase marks an end to the prevailing downfall, which holds the fate of the upcoming trend. Meanwhile, Pi Network is progressing with the upgrade to the Stellar protocol version 23.
Bitcoin (BTC) is gaining momentum after rebounding from key support, trading above $117,000 at the time of writing on Thursday. The rally follows the US Federal Reserve’s (Fed) 25-basis-point (bps) rate cut decision on Wednesday. Moreover, the possibility of additional cuts later this year further fueled risk-on sentiment across the cryptocurrency market.
The crypto market capitalisation gained 1% in 24 hours to $4.10 billion due to a global increase in risk appetite against the backdrop of the Fed’s decision to cut rates and plans for further policy easing. The total market capitalisation is close to a record high, having been higher only briefly on 14 August. The market has been driven over the past week by altcoins such as BNB, SOL and DOGE, which have gained over 10% compared to 2.6% for BTC.
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The Securities and Exchange Commission (SEC) approved generic listing standards for commodity-based trust shares on Nasdaq, Cboe, and the NYSE, allowing these exchanges to list such products without going through the normal ETF waiting process.
Sui (SUI) price trades in green, above $3.80 on Thursday after rebounding from its key support level earlier in the week. The bullish view is further supported by rising Decentralized Exchange (DEX) activity and favorable funding rates.
MYX Finance (MYX), MemeCore (M), and Fartcoin (FARTCOIN) have emerged as top performers over the last 24 hours, as the broader cryptocurrency market shows signs of recovery following the 25 basis points rate cut announced by the US Federal Reserve on Wednesday.
Bitcoin (BTC) and a majority of top tokens in the cryptocurrency market held steady on Wednesday, despite the Federal Reserve's (Fed) decision to lower interest rates by 25 basis points (bps), according to market expectations.
Bitcoin steadies around $115,000 at the time of writing on Friday, having recovered nearly 4%. This recovery is further fueled by strong institutional inflows and renewed corporate accumulation this week.
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