Hong Kong, October 15, 2024 /PRNewswire/ — CoinX Research published a comprehensive report on cryptocurrency market September 2024. This month has been an important one, with a remarkable rebound driven by important policy changes and technological advancements.
Fed cuts interest rates by 50 basis points
The Fed’s decision to implement a 50 basis point rate cut set the stage for a sharp rise in interest rates. cryptocurrency. This dovish stance was reflected in similar actions by the European Central Bank and the Bank of Banks. ukIt reversed the previous market downturn and injected optimism. cryptocurrency market.
bitcoin bound bag
bitcoin started the month $52,700experienced a dramatic surge after the Fed’s announcement. $66,000 before settling down $63,300 Until the end of the month. It recorded an impressive increase of over 20%. bitcoin challenge the critical $70,000 Resistance level.
recession risk
The Fed expects higher unemployment and maintained its GDP growth forecast at 2% for both 2025 and 2026. The inflation outlook remained manageable, contributing to a sense of stability that strengthened investor confidence. Market analysts are closely watching the USD/JPY currency pair as a key indicator of global liquidity flows that could have an impact. cryptocurrency market.
Fractal Launch bitcoin mainnet
Technological innovation played a key role in September. cryptocurrency story. Fractal launch bitcoin reputation September 9th Significant progress has been made in bitcoinecosystem. With the support of the ViaBTC mining pool, CoinEx became the first to list a native FB token, further highlighting the potential of this innovation.
Challenges facing the Ton ecosystem
But not all developments are like that. cryptocurrency The space was positive. The TON ecosystem has faced challenges as new tokens such as CATI and HMSTR have underperformed since launch, raising concerns about the sustainability of certain blockchain-based economic models.
Meme Token Craze
September saw a resurgence of meme tokens thanks to a viral trend on social media platforms. Animal-themed tokens such as Moo Deng, PESTO (penguin), and OMOCI (frog) have particularly caught the attention of traders. Solana Blockchain.
market optimism
Despite these fluctuations, overall market sentiment remained positive, as evidenced by significant inflows. $2.9 billion Conversion to stablecoin by the end of September Looking ahead, cryptocurrency The community is gearing up for an eventful October, with economic data releases and the US election expected to be potential catalysts for the next round of market activity.
conclusion
In conclusion, favorable macroeconomic policies, groundbreaking technological innovations, and evolving market trends combine to make September an important month for businesses. cryptocurrency Market in 2024.
Introduction to CoinX
Established in 2017, CoinX It’s global cryptocurrency an exchange that strives to create cryptocurrency Trading just got easier. The platform provides a variety of services, including spot and margin trading, futures, swaps, automated market makers (AMMs), and treasury management services, to more than 10 million users in more than 200 countries and regions.
CoinEx Research continues to strive to provide in-depth analysis and insights into evolving cryptocurrencies. cryptocurrency We help investors navigate the complexities and opportunities that lie ahead.
To learn more about CoinEx, please visit: website | twitter | telegram | linkedin | Facebook | Instagram | youtube
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Source: CoinX Global
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