“Polymarket traders have their money on four to five more rate cuts this year.”, — write: www.coindesk.com
- The Federal Reserve implemented a 50 basis point rate cut, with expectations of further reductions to bring the median benchmark rate to 4.4% by year-end.
- Despite the rate cut, market sentiments are mixed with some skepticism about the sustainability of the crypto market rally.
- Major cryptocurrencies like Solana’s SOL, BNB, XRP, and Cardano’s ADA saw gains, with SOL leading at a 6% increase.
- Additionally, there’s a notable interest in further rate cuts, with market bets on Polymarket indicating expectations of continued monetary easing by the Fed.
Edited by Parikshit Mishra.
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