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Crypto

Crypto Market Cap Reaches New Heights Amidst Fed Rate Hike

Guavy AI Editorial Team
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The global crypto market cap rose by 1% to $2.70 trillion over the past 24 hours, as Bitcoin and Ethereum saw price increases.

Bitcoin traded at $76,270.01, up 0.7% on the day but still down 2.5% over the week. Ethereum changed hands at $2,432.43, up 1.4% in 24 hours though down 1.6% over seven days.

The Federal Reserve raised the federal funds rate target range by 25 basis points to 3.75-4.00%, its first hike since July 2023. Circle's Arc mainnet launched with BlackRock and Visa as validators, marking a significant institutional adoption milestone.

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