US Hikes Interest Rates By 75 Bps

Main Takeaway: Cryptos & Equities Fall Following Fed Rate Hike

Both cryptos and traditional equities have fallen by around 3% following yesterday’s Fed rate hike. The next FOMC will be held in November, the last of 2022. This is the first year in over two years that the Fed and other global central banks continually raised rates. This may spook the markets and cause stagnated economic growth in the coming months.

Today’s Top Gainers

The top five performing coins on Phemex d-o-d are Celsius (CEL/USDT), Algorand (ALGO/USDT), Lazio Fan Token (LAZIO/USDT), Ceek VR (CEEK/USDT), and Chiliz (CHZ/USDT).