Cryptos Reclaim $2T Capitalization

Cardano’s ADA Leads Gains in Majors

Crypto markets added nearly 3.2% to their overall market cap

in the past 24 hours, data shows

“Altcoins have a very strong correlation with BTC,” explained Egor Volotkovich, director at yield farming platform EVODeFi, in a Telegram message. “The growth surge in the cryptocurrency accounts for why these altcoins are also trading positively today.”
The move in bitcoin came even as Federal Reserve Chairman Jerome Powell warned on Monday about rising inflation and suggested the U.S. central bank is willing to raise rates more aggressively.
“A more aggressive increase in rates raises the chance of a recession, as it will slow growth more,” said Marcus Sotiriou, an analyst at crypto broker GlobalBlock, in an email to CoinDesk. “In my opinion, they will not raise rates by more than 25 basis points until September at the earliest, as the Federal Reserve will try their best to avoid a recession.”

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