Fed Cuts Rates by 50 Basis Points Spurring Positive Price Momentum for BTC and Altcoins
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Daily Bits
Sep 19, 2024
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Daily Top Performer — Taiko (TAIKO)
The SPX index was down by 0.29%, after initially hitting a record high before turning lower following the Federal Reserve's decision to cut rates by 50 basis points. Coindesk Indices, an index measuring broader cryptocurrency market performance was up by 3.21%, with Bitcoin rising by 0.13% and Ether dropping by 0.80%, in the past 24 hours.
Today's top performer is TAIKO, which surged 27.4% following the launch of the Taiko Grant Factory Hackathon, offering $100K in prizes for sustainable Web3 innovations.