Cryptocurrency prices have seen significant gains over the weekend, with experts suggesting that the recent rally in prices could be due to the dovish remarks from Federal Reserve officials.
On Friday, Federal Reserve Chair Jerome Powell spoke about inflation, emphasizing it is too early to declare victory. He also affirmed the Federal Open Market Committee’s commitment to maintain restrictive policy until the 2% target of inflation is securely returned to.
Bitcoin price rose 1.62% in the last 24 hours, trading at $38,807.70, reaching a yearly high. Investors are now anticipating that the crypto will reach $40,000.
While Ethereum, Binance Coin and XRP prices decreased, Cardano and Dogecoin prices increased. In the meme coin category, cryptocurrencies have seen modest gains, indicating investor speculation.
The overall crypto market cap rose 1.13% yesterday to $1.46 trillion and the total crypto volume increased 4.31% to $46.75 billion.
The top 4 cryptos for today are Pepe Coin, Beam, Terra Classic and Stacks.
Pepe Coin price went up 0.25% to $0.000001106, while its trading volume rose 13.79% to $45.78 million. Beam (BEAM) price rose 15.23% and traded at $0.01124, with its 24-hour volume increasing 336.20% to $65.98 million. Terra Classic price jumped 14.49% to $0.0001369, with its one-day volume surging 189.76% to $349.76 million. Stacks crypto (STX) was another top gainer, rising 13.29% to $0.7961 with its 24-hour volume up 118.03% to $141.36 million.
