Fed Cuts Interest Rates, Bitcoin Briefly Soars to $62K
The Federal Reserve implemented its first interest-rate cut in four years, reducing rates by 50 basis points. The decision had an immediate impact on global markets, sending US equity futures higher and boosting Bitcoin prices to a three-week peak of $62,000. The sizable rate cut generated ripple effects across various sectors, stimulating market activity as investors sought opportunities in assets like Bitcoin. This interest-rate reduction by the Fed indicates its focus on managing economic challenges, with cryptocurrency benefiting from renewed investor confidence and shifting capital allocations.
Solana Unveils Developer-Friendly Update
Solana has introduced a groundbreaking update for developers, dramatically reducing costs by 1000X. This announcement, which highlights the launch of ZK Compression on its mainnet, has the potential to reshape Solana's development ecosystem. The update is expected to improve efficiency and lower operational costs for developers, further enhancing the network’s appeal. Market observers are already speculating about the positive effect on Solana’s price, with some analysts predicting a rally that could see SOL reach as high as $300. The major development underscores Solana’s commitment to innovation and staying ahead in the blockchain space.
Trump Pays for Burgers With Bitcoin at New York Bar
Former President Donald Trump made headlines by paying with Bitcoin during a visit to PubKey, a Bitcoin-themed bar near New York University. Trump, initially met with boos, later received applause from a mix of Bitcoin enthusiasts and supporters as he treated the crowd to burgers. The event signals Trump’s growing engagement with the cryptocurrency community, a notable move given his previous criticism of digital assets. This public show of support for Bitcoin comes at a time when crypto adoption continues to rise, fueling further conversation around its mainstream acceptance.
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