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- 1 Bitgert token (BRISE) added 18.58% to its trading prices in the past 24 hours.
- 2 At press time, it was trading at $0.0000003536 with an intraday trading volume of $7,132,156.
- 3 The U.S. Federal Reserve increased interest rates on Wednesday to their highest level in 22 years.
Bitgert token (BRISE) added 18.58% to its trading prices in the past 24 hours, and in the weekly time frame, token prices surged over 39.35%. In the daily time frame, the BRISE trading volume surged over 73.54%, and market capitalization grew by approximately 17.58%.
Opposing the declining pattern of the crypto market, the Bitgert token rose significantly at press time; it was trading at $0.0000003536 with an intraday trading volume of $7,132,156, making it the 216th most traded token in the industry.
According to Forbes, Bitgert has been controversial post-FTX unprecedented collapse because of its claims of high-speed, free-to-use blockchain. Bitgert has developed many other blockchain-based products other than tokens.
The price of the BRISE coin is currently above the 50-day moving average, which suggests possible future price increases, continuing its positive trend.
The MACD line above the signal line indicates a probable continued purchasing trend, and the RSI reading of 64.29 indicates upward momentum. At $0.0000002907, the token seems to have run against resistance, perhaps starting a sell-off.
A tool for tracking Bitgert coins called Burn BRISE reported a total burn rate of 59.45% in July 2023. There are presently 405,413,119,524,340 tokens in circulation, or 40.54% of the total supply.
The total supply of coins was reduced by 168 million that day thanks to a burn of 3.9 million tokens worth $0.91 each, totaling more than $39.47.
How FED Interest Effects Cryptocurrencies?
The U.S. Federal Reserve increased interest rates on Wednesday to their highest level in 22 years, but this did not affect the price of Bitcoin, which remained constant despite the adjustment.
Despite the 0.25 percent hike in interest rates, Bitcoin’s market price remained static at just under $30,000. As the Fed considers more rises to fight inflation, the lack of movement was viewed as a favorable indication.
The overall price movement of Bitcoin, representing a 0.3% change, reveals that it has been steadily fluctuating between $29,000 and $31,500 for over a month.
Although the entire market capitalization for digital currencies fell by 2% earlier this week, experts are less concerned because it maintained its level during the rate adjustment.
At press time, Bitcoin (BTC) was trading at $29,419 with 24 hours trading volume of $13,007,948,905, an impressive surge of 22.43% seen in the trading volume.
According to CoinMarketCap, overall crypto market trading volume over the past 24 hours was $30.15 Billion, reflecting a surge of more than 15.77%.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
