In addition to the analysis of prices in the crypto money market, developments in the ecosystem are also of great importance. Network updates, exchange listings or Q&A events of altcoin projects; generally positively affects their position in the market. For this reason, we inform you about the developments in the ecosystem every day. Today, there will be significant developments for 10 altcoins. Here are the details…
Today is an important day for 10 altcoins
- Subme (SUB) will carry out the coin burning for the month of November today.
- Ricnatum (RCNT) will hold its private NFT sale today.
- Conflux (CFX) will hold a question and answer event with Goledo.
- Saito (SAITO) will hold the community meeting today at 15 pm.
- Vita Inu (VINU) will hold a question and answer event on Telegram at 11 pm.
- Vega Protocol (VEGA) will hold the community meeting today.
- Triall (TRL) will hold a question and answer event on Youtube. The event will start at 17.30 CEST.
- LBank lists Mammoth MMT (MMT) in USDT pair at TSI 13.
- Toon Finance (TFT), a new blockchain ecosystem for DeFi, P2E and metaverses, ranked first on CoinMarketCap as the most searched coin on a weekly basis.
- British financial technology company Revolut has announced that it is offering its customers 1 percent cashback on Dogecoin (DOGE) and other cryptocurrencies.
Other important developments affecting the market
The cryptocurrency market is often affected by Bitcoin’s price movements. Apart from that, the network developments we mentioned above have an important place in the cryptocurrency space. The innovation of a crypto project in the field is received very positively by investors. However, apart from these, the cryptocurrency market has started to be traded in relation to macroeconomic developments recently. As we have reported as Kriptokoin.com, the focus of investors is the Fed’s interest rate decision this week.
Currently, Bitcoin and other cryptocurrencies are sideways. However, recently, the exchanges with high correlation of BTC have experienced a slight decrease. The drop in equities comes ahead of the Federal Open Market Committee (FOMC) meeting on November 1 and 2 this week, when the Fed is expected to raise interest rates by 75 basis points to curb inflation.
With inflation reaching a 40-year high of 8.2 percent in September, the Fed raised interest rates from near zero in March to 3.25% now. The Fed has stated that it will continue this policy until inflation reaches a target range of 2 percent. To raise the target to 4.50 percent while increasing the interest rate. Time will tell how these developments will affect the cryptocurrency markets.
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