In the crypto market, successive losses have been recorded since the start of 2022, including a further 0.75 percent rate hike by the US Federal Reserve in the first half of this year. Crypto and stock investors don’t see an end to the ongoing bloodbath, so they’re looking for other alternatives.
Following the Fed’s announcement last week that they would increase interest rates to the highest level in over a decade, Bitcoin and popular altcoins plunged to yearly lows. In order to level the economy and prevent a recession, financial analysts argue that the interest rate hike could not have been avoided. Several days may also pass before the Bank of England follows suit.
There have been few tokens with positive price movements in the last few months, despite the instability of the broad crypto market. The most popular tokens among investors are Tamadoge (TAMA), Battle Infinity (IBAT), and ICON (ICX).
Crypto Market and High Inflation
The constant rate increases may continue until 2023, as the high inflation levels have yet to decrease. Marcus Sotiriou, a digital asset expert, told The Independent recently that rising rates are detrimental to the global stock and crypto market since people and businesses are less inclined to borrow for investments.
Similar monetary and interest rate decisions have also been made by the Bank of Japan and the Bank of England. Therefore, investors are in for a very volatile Q4 as they seek to understand these central bank decisions.
Cryptomarket’s response to Fed rate hikes
For the first time in three months, the global cryptocurrency market has lost over $90 billion in the last week. The price of cryptos like Ethereum and Bitcoin spiked briefly a few weeks ago but dropped back a few hours later. Due to constant interest rate increases in recent months, the market is currently in a bloodbath.
Analysts predict that the crypto market will become more positive in the long run. In addition, Mr. Sotiriou stated that traditional financial institutions might enter the crypto market during this bearish season since they have the funds to do so. According to the market cap, Nasdaq is launching a cryptocurrency-based business for institutional investors.
The best cryptocurrency listing in September is Tamadoge
Tamadoge announced that it will be listed on OKX, a centralized and decentralized exchange, on Tuesday, 27th September 2022.
In spite of the crypto winter that has lasted for months, Tamadoge raised $19 million during its presale. The Tamadoge IEO could be one of the best this year, according to analysts at CNBC, BeInCrypto, NewsBTC, Yahoo Finance, and the Bitcoinist. During the presale, listings were confirmed on LBank and UniSwap.
In addition to being listed on OKX, the token will also be supported by over 200 countries, excluding the United States. In order to overcome geographical restrictions, the team told traders they could use the OKX decentralized exchange (DEX) to trade Tamadoge coins. As a popular exchange, OKX offers derivatives, staking, an NFT marketplace, hot and cold wallets, and launchpads.
Experts believe that the charts will show several positive upturns after listing on OKX, regardless of the price and interest rate it is listed at.
The tokens of Lucky Block (LBLOCK) are showing more price increases following the sponsorship of Joe Royce’s latest bout
Over the weekend, Lucky Block, the world’s leading NFT competition and rewards platform made headlines following a sharp increase in the token’s price. LBLOCK’s deal with Joe Joyce proved to be an excellent strategy for raising the popularity and value of the token.
A brand new audience was exposed to the Lucky Block platform through the event. There is a similar target audience for lottery competitions, cryptocurrencies, and boxing sports, which are mostly young, tech-inclined, affluent men.
By consolidating the price of LBLOCK tokens to around $0.0055, this event built anticipation for the LBLOCK token burn program scheduled to launch on September 30th. LBLOCK burns approximately 11% of its supply every month through its Lucky Block program. Out of 3,650,000,000 tokens created, approximately 36,500,000 will be removed from circulation. The V1 to V2 bridge is also expected to be released in the first week of October.
ICON (ICX) is developing into a good investment
ICON is a p2p decentralized exchange that enables the interconnectivity of various blockchains and allows various applications to be built on top of the network. ICON’s architecture aims to be highly scalable and versatile, while also being inherently fair so all participants are treated equally.
The ICON Network is a decentralized network that supports smart contracts and other blockchain applications. P-Reps (Public Representatives) validate transactions, while ICONists (INFs) and Validators are nodes.
The ICX is the native currency of the ICON platform and its application. It offers a variety of use cases, including governance, payment collateral, and Dapp’s interactions. ICX is listed on some of the largest cryptocurrency exchanges; Binance, Kraken, Crypto.com, Upbit, OKEX, Huobi Global, etc.
ICX is a good long-term investment as the prices are expected to reach $1.43 by 2025. They are quite bullish about the prospects of the project and believe that it has a bright future ahead.
Although ICON Network is well known, it is not the only player in this space. With the ever-growing popularity and potential for mainstream adoption, there will be other platforms that challenge it. While ICON Network has established itself by working with a variety of organizations and public authorities, there are several blockchain networks that provide similar prospects. While it appears to be one of the more popular ones today, there is still room for other systems to emerge and surpass it.
Bottom Line
Bond yields and the value of the U.S. dollar have risen as a result of the Federal Reserve raising interest rates. The current crypto market, however, does not reflect its positive impact on the economy. Bitcoin and Ether remain highly volatile due to rising inflation, which could worsen in the future.
According to Fed Chair Jerome Powel, there will likely be further rate hikes announced at November’s FOMC meeting. You can avoid being affected by current and proposed rate hikes by investing in safe coins like Tamadoge (TAMA), Lucky Block (LBLOCK), and ICON (ICX).
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