Buy Crypto
Markets
Contract
Spot
Earn
Web3 new
Learn
Blogs > Crypto in a Minute > Fed 75 Market Rises >

Fed 75 Market Rises

Author: Jeffrey Craig Date: 2022-07-28 02:35:44

  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Discord
  • Youtube
Subscribe Phemex

Get The Latest News And Updates From Phemex!

giftRegister to get $180 Welcome Bonus!
Email
Password
Invitation code (Optional)

july-28-daily-update

Main Takeaway: Fed Raises Rates For 4th Time In 2022

The US Fed announced another 75 bps rate hike, which is the fourth hike this year. On this news, both crypto and US equities bounced by over 3% for stocks and 5% for crypto. Markets are showing signs that expectations for further drastic rate hikes are reduced, thus giving a breath of fresh air for the markets, but the economy is a different story, in particular, a potential labor market turnover. Many on crypto Twitter are saying the bottom is in, with some TA indicators showing that as well, but as we’ve seen over the past two months, the crypto markets have shattered most predictions and have on multiple occasions broken below resistance.

Key Stories: Japan Looking At Web3

Japan’s Ministry of Economy, Trade, and Industry (METI) has just opened its own Web3 Policy Office to bring together various departments and begin strengthening the framework for examining business prospects related to Web3. METI is a very important body in Japanese Politik that has large sway in terms of finance, investment, and technological development. So this news that they’re looking at the sector will chart a path forward for Japan to be a top global competitor and force in Web3-related industries such as new Internet, metaverse, DeFi, NFTs, and cryptocurrencies.

Today’s Top Gainers

The crypto markets have increased dramatically over the past 12 hours. The top five coins on Phemex d-o-d are XYO Network (XYO/USDT), Lido Dao (LDO/USDT), Optimism (OP/USDT), Synthetix (SNX/USDT), and Ethereum Classic (ETC/USDT).


For any inquiries contact us at support@phemex.zendesk.com
Follow our official Twitter | Join our community on Telegram
Trade crypto on the go: Download for iOS | Download for Android
Phemex | Break Through, Break Free
  • Facebook
  • Twitter
  • LinkedIn
  • Telegram
  • Discord
  • Youtube
Subscribe Phemex

Get The Latest News And Updates From Phemex!

giftRegister to get $180 Welcome Bonus!
Email
Password
Invitation code (Optional)
start trading start trading start trading

Register On Phemex Now To Begin Trading

Register On Phemex

More Articles

Subscribe Phemex

Get The Latest News And Updates From Phemex!

Get The Latest News & Updates!

Bonus

Become the First PT Holders with ZERO Risk

Celebrate the Launching of the Phemex Token on November 30th