Crypto Industry Heats Up After The Fed’s Announcement, USDT Prices Also Rising?

After the Fed announced interest rate cuts, the cryptocurrency industry heated up. Many tokens have experienced price increases. So, what about the USDT price? Has the USDT token pair also experienced positive price changes? The following is the explanation.

Impact of the Fed’s Interest Rate Cut Announcement

The Fed has announced a 50bps cut in interest rates. This condition has heated up various investment assets, including the crypto industry. The majority of crypto tokens have even gone “green”. This condition is of course encouraging for crypto token holders.

Bitcoin recorded its price at $63,532 with an increase of 1.8% in 24 hours. Then there is Ethereum which has recently experienced a decline and even received a bad reaction from its holders because the price continues to fall. But now, ETH is up 4.65% and has a price of $2,545.

However, it turns out that the condition of positive price changes after the announcement of the interest rate cut does not apply to USDT. USDT Price fell by 0.01%.

Tether USDT Dominates the Stablecoin Market

In the stablecoin market, Tether USDT continues to strengthen its teeth. TON’s USDT Tether dominates and records itself with an increase of up to 75%, from the previous 55%. Its market capitalization even exceeds $118 billion. This figure is proof of the significant increase in Tether USDT in the last 2 years.