Bitcoin Price Increases As Fed Meets Market Expectations With 75 Basis Point Rate Hike
Daily Market Wrap
Crypto market cap: 1.10 trillion, up 4.61%
BTC price stands at USD 23,866, up 4.63%
ETH price stands at USD 1,724, up 6.58%
Top gainer: Optimism (OP), up 48.96%
Top loser: Arweave (AR), down 1.62%
News of the Day
Why it matters:
On July 27, the price of Bitcoin (BTC) surged around 8% to the mid $22,500 mark following the Federal Open Markets Committee (FOMC) decision to raise interest rates by 0.75 percent points
When inflation first began rearing its head last year, the Federal Reserve raised U.S. interest rates to lift the target range of its benchmark to between 2.25% and 2.5%
Bitcoin’s price rose 3.6% in the hour after the decision had been made. Fed Chair Jerome Powell said that another unusually large interest-rate increase will depend on incoming data
Crypto Daily Spotlight
Brief introduction: The Bored Ape Yacht Club (BAYC) is arguably the most influential NFT project by far. The BAYC NFT collection was technically created by Yuga Labs. It is a collection of 10,000 NFT Apes, each with completely unique traits. By purchasing an Ape, you will get exclusive access to future collections and other perks as a member of BAYC. Part of BAYC’s success nowadays has been its focus on creating a universe and exclusive club behind the NFTs, maintaining the hype and a relatively high floor price as a result.
Why it matters:
The Queen of Pop is upset about losing out on the rainbow-toothed Ape #3756 listed on OpenSea for an eye-watering 800.69 ETH (roughly $1.27 million)
“I was hellbent on getting an Ape and really specific about what I wanted: the Ape with a leather motorcycle cap on and multi-coloured teeth,” Madonna told Variety
Madonna has been pining over that Bored Ape Yacht Club NFT, which has “trippy” fur, an “S&M” hat, a motorcycle jacket, and rainbow teeth.
When asked if Ape #3756 or its traits were inspired by her, BAYC creators Yuga Labs BAYC creators Yuga Labs told Decrypt via email that Apes “aren’t necessarily designed or modelled after anyone specifically”
Daily Sector Tracker
Daily News Roundup
Stablecoin Bill Officially Delayed After The August Congressional Break https://bit.ly/3OGOtSL
Meta Reported $2.8B Loss on Metaverse Division in Q2 https://bit.ly/3cBtEdQ
First Unlisted Crypto Fund Will Roll Out In Australia Safeguarded by Gemini https://bit.ly/3cBEBfu
Crypto Exchange FTX Offers Stock Trading Services to All Users in US https://bit.ly/3PJiylG
Tron Filmmaker Donald Kushner Creates Cryptosaurs in Metaverse & NFT Collections https://bit.ly/3bg1F3i
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