Binance Altcoin Inflows Surge Ahead of Fed Decision and Clarity Act Vote
Binance altcoin inflows have surged to a seven-day average of approximately 31,800 deposit transactions as crypto markets prepare for key events. According to Darkfost's data, this marks a significant increase from July's level of around 8,300 transactions.
The CLARITY Act vote and the Federal Reserve's decision on interest rates are set to take place this week. The Senate cloture on the CLARITY Act is scheduled for September 15 at 2:15 p.m. ET, while the Federal Open Market Committee meeting will conclude with its rate decision on Wednesday.
The odds of a September rate hike have risen to around 93% according to CME FedWatch probabilities. Bitcoin has rebounded from its late-August lows, trading around $78,000 heading into September 15. The recovery follows a sharp increase in the value of altcoins, with TOTAL3 index tracking their market capitalization excluding Bitcoin and Ethereum rising by over $136 billion.