The cryptocurrency market has seen continuous losses since the beginning of 2022, even though the US Federal Reserve raised interest rates by 0.75%. It's hard for investors to predict an end to the ongoing carnage, so they're looking for other alternatives to get out of cryptocurrencies and stocks.
Last week, Bitcoin and popular altcoins hit year-lows as the Fed announced plans to raise interest rates to the highest levels recorded in more than a decade. Financial analysts say interest rate hikes are inevitable, as the Fed's main strategy is to soften the economy and avoid a recession. The news also suggested that the Bank of England may follow suit within days.
Several tokens have maintained positive price momentum in recent months despite fluctuations in the broader crypto market. Among these tokens, Tamadoge (TAMA), Battle Infinity (IBAT) and Lucky Block (LBLOCK) are the most popular among investors.
response to high inflation
The steady rise in interest rates may continue until 2023 as high inflation shows no sign of abating. Digital asset expert Markus Sotiriou recently told The Independent that rising interest rates are hurting the global stock and cryptocurrency markets, as individuals and businesses are less likely to borrow to invest; on the contrary, save more.
The Bank of Japan and the Bank of England also made similar monetary and interest rate decisions for the American Conference Board. As a result, investors find themselves in a very volatile fourth quarter as they try to better understand this decision by the central banks of these major countries.
The impact of Fed rates on the Crypto market
The global cryptocurrency market has lost more than $90 trillion in recent weeks, falling below $900 billion for the first time in three months. A few weeks ago, cryptocurrencies like Ethereum and Bitcoin showed short-term gains only to decline a few hours later. As mentioned above, the bloodshed in the market was caused by the continuous increase in interest rates in recent months.
According to analysts, the cryptocurrency market may be more positive in the long run. Sotiriou also noted that traditional financial institutions may start entering the crypto market this bear season because they have the means to do so. For example, Nasdaq, one of the largest US exchanges by market capitalization, launched a cryptocurrency business aimed at institutional investors.
Tamadoge is the best crypto list for September
Last Friday, the Tamadoge team announced that the token would be listed on the centralized and decentralized exchange OKX on Tuesday, September 27, 2022.
Tamadoge raised $19 million in pre-sales despite crashing through months of crypto winter. In addition to the record presale, analysts from CNBC, BeInCrypto, NewsBTC, Yahoo Finance and Bitcoinist predict that the Tamadoge IEO could be one of the best this year. The group confirmed the listings of LBank and UniSwap while conducting the presale.
OKX's recently confirmed listing will put the token on a high pedestal, with more than 200 countries supporting OKX in addition to the US. For traders who don't want to trade Tamadoge coin locally, the team explained that they can bypass geo-restrictions by using the OKX Decentralized Exchange (DEX). OKX, formerly OKEx, is a popular exchange with derivatives platform, strike, NFT market, hot and cold wallet and launch platform.
After listing on OKX, many experts believe that the chart will show positive returns regardless of quoted prices and current interest rates.
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Lucky Block (LBLOCK) - The token shows a big price increase after Joe Royce backed his last fight
Lucky Block, the world's leading NFT competition and reward platform, made headlines over the weekend after its token price surged. The Joe Joyce deal was a brilliant strategy to increase the reputation and value of LBLOCK.
This event gave the Lucky Block platform a lot of exposure to a new audience. The group explains that lotteries, cryptocurrencies and boxing share the same target audience, specifically young tech-savvy men.
This event raises expectations regarding the planned launch of the LBLOCK token burning program on September 30, and has successfully strengthened the price of the LBLOCK token to around $0.0055. The Lucky Block Burn program is a strategy to remove approximately 11% from the inventory of LBLOCK coins every month. This means that out of the 3,650,000,000 tokens created, approximately 36,500,000 tokens will be withdrawn. Also, the V1-V2 bridge is expected to be released in the first week of October.
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Battle Infinity remains the best fantasy sports token released this year
Battle Infinity is the newest meme coin that offers innovative use cases for both crypto-enthusiasts and non-crypto gamers alike. Battle Infinity is a P2E cryptocurrency that aims to leverage blockchain technology to revolutionize the fantasy sports gaming niche.
Players will be able to chat and compete in a battle arena based on the platform's Metaverse ecosystem. The winners will receive rewards in the form of IBAT (platform native tokens).
Investors can trade and distribute IBAT tokens or share tips, while gamers can print or redesign athlete NFT characters. A few weeks ago, IBAT did the pre-sale a few months earlier than planned. The capabilities of the platform, especially the Premier League's IBAT products, have helped the project generate significant interest in the global crypto community. Investors can buy IBAT tokens on PancakeSwap and LBANK.
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It is the most important
Interest rate hikes by the Federal Reserve pushed up bond yields and strengthened the value of the US dollar. However, its positive impact on today's economy is not reflected in the cryptocurrency market. Major coins like BTC and Ether remain highly volatile due to spikes in inflation that could worsen.
Fed Chairman Jerome Powell said at a news conference that more rate hikes are likely to be announced at the next FOMC meeting in November. The best way to stay unaffected by current and proposed interest rate hikes is to invest in safe coins like Tamadoge (TAMA), Lucky Block (LBLOCK) and Battle Infinity (IBAT).