This week, the crypto market is on a roll: just yesterday, its capitalization grew by $60 billion to $1.06 trillion. Everything grows but in different ways.
In a day in the top 10 main cryptocurrencies of the world, Cardano has the largest increase – almost 10%. This is followed by Bitcoin and Dogecoin, both of which added about 6.5%. Bitcoin has a weekly growth of 20%, Dogecoin has a 17% increase. But Ethereum added the most in a week – almost 50%!
But how long will the rally last? Already next week, on July 26-27, the FRS meeting will take place, at which, as predicted, a decision will be made to increase the main rate by 75 basis points. This threatens a decline in the stock market, with which the cryptocurrency market is fully correlated. In other words, the rates of cryptocurrencies after the Fed meeting may decrease, thereby leveling the growth of recent days.