Cryptocurrency-exposed stocks rose along with bitcoin and ether following the Federal Reserve’s announcement Wednesday to boost the interest rate 75 basis points.
After the Federal Reserve’s announcement of a 75 basis point increase in the interest rate, crypto-exposed equities surged from their daily lows on Wednesday.
Cryptocurrencies also turn green after feds rate hike
Major cryptos are also on the rise, with bitcoin and Ethereum, the largest cryptocurrencies according to market capitalization, climbing over 3% and 1% respectively.
Hut 8 (HUT), Marathon Digital, Mara (MARA), and Riot Blockchain (RIOT), all saw a jump of at least 6%. Both Crypto-exchange Coinbase (COIN), and software/bitcoin company MicroStrategy, (MSTR), gained at least 3 percent. About 5% was seen in cryptocurrency brokerage and asset manager Galaxy Digital, GLXY.TO.
These gains were made amid volatile trading sessions and a week leading up to the Fed’s meeting.
