Layer-2 and DeFi tokens surge as markets calm after Fed rate hike fears

·3 views

Cryptocurrency markets staged a broad recovery as post-Federal Reserve rate hike anxiety eased. Layer-2 blockchain tokens Starknet and Arbitrum were among the top performers, each gaining over 17%. The rally was widespread, with 98 out of 100 tokens in the CoinDesk 100 index recording gains. Adding to the positive sentiment, the 10-year US Treasury yield retreated to below the 5% mark, signaling reduced pressure on risk assets.

Read the full story at CoinDesk

This is an AI-generated summary. ShortSingh links to the original source for the complete article.

Discussion (0)

Bitcoin holds steady in September despite rate hikes, strong dollar headwinds

Bitcoin has declined only 1.5% in September, a month historically known for poor crypto performance. The modest dip comes despite mounting macroeconomic pressures including rising interest rates, surging oil prices, and a strengthening US dollar. Despite these headwinds, Bitcoin remains on course to post its first quarterly gain in a year. The resilience of the cryptocurrency signals underlying bullish sentiment among investors even as broader financial conditions tighten.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Bitcoin Climbs Back Toward $78,000 for Third Consecutive Day of Gains

Bitcoin has extended its recovery for a third straight day, rising from an overnight low of $75,972 to just under $78,000. The rebound signals renewed buying momentum in the broader crypto market. Altcoin HYPE emerged as a standout performer, leading gains across the alternative cryptocurrency segment. The recovery comes amid broader market volatility that had previously pushed Bitcoin to lower price levels.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

Stablecoin payments firm dtcpay raises $25M in Series A backed by SBI Group

Singapore-based stablecoin payments company dtcpay has closed a $25 million Series A funding round. The round featured a strategic investment from Japan's financial giant SBI Group. The capital injection is expected to support dtcpay's growth in the digital payments space. This partnership signals continued institutional interest in stablecoin-based payment infrastructure.

0 comments Read more at CoinDesk

Crypto & Web3CoinDesk ·

US Treasury sanctions Iranian crypto exchange for funding Revolutionary Guards

The US Treasury Department has sanctioned BitBank, a cryptocurrency exchange based in Tehran, Iran. Authorities allege the platform facilitated the movement of hundreds of millions of dollars in bitcoin to Iran's Revolutionary Guards. BitBank is also accused of processing payments collected from ships seeking safe passage through the Strait of Hormuz, a critical global oil transit route. The sanctions mark a significant escalation in US efforts to curb the use of digital assets to circumvent financial restrictions on Iran.

0 comments Read more at CoinDesk