Cardano Surges 6% Ahead of Fed Rate Decision

Crypto markets remained cautious ahead of the U.S. Federal Reserve's interest rate decision on July 29th. During this time, Cardano (ADA) surprisingly rose by 6% over the past 24 hours, outperforming the broader market. This gain is significant considering investors are bracing themselves for a potential 25-basis-point rate hike, with prediction markets assigning a 21-25% chance of such an event.

Bittensor (TAO) also saw gains of around 3%, while other notable assets like Zcash (ZEC), NEAR, OKB, and Mantle (MNT) posted losses ranging from 2-4%. The market's reaction to the Fed's decision is expected to drive major moves across cryptocurrency markets.