The crypto prices today were marked by optimism, seeing a sea of green on Thursday, November 2. Meanwhile, investors are flocking to riskier assets as they eagerly anticipate the Federal Reserve’s upcoming meeting, a potential catalyst for the ongoing crypto rally or a market sentiment dampener.
The Federal Reserve’s recent announcement garnered applause from the market. During Wednesday’s FOMC meeting, the central bank opted to maintain its benchmark interest rates at their current levels, a unanimous decision by the rate-setting group. This move, unsurprising to many, maintained the key federal funds rate within a target range of 5.25%-5.5%, where it has remained since July.
Notably, the decision followed a sequence of 11 rate hikes, including four in 2023.
Crypto enthusiasts had plenty to celebrate as Bitcoin price experienced a 2.77% increase in price, reaching $35,363.40, while its trading volume surged by 60.64% to $25.03 billion over the last 24 hours. The market cap also saw a boost of 2.80%, reaching $690.77 billion. Over the past seven days, Bitcoin’s price appreciated by more than 2%.
The Ethereum price didn’t lag, with a 2.29% uptick in its price, now trading at $1,846.22, accompanied by a 66.85% increase in one-day volume, reaching $11.38 billion. Simultaneously, the XRP price also saw a 3.24% rise, landing at $0.606, while its 24-hour volume decreased by 14.42% to $1.87 billion.
Among other prominent cryptocurrencies, the Solana price surged 9.94% to $41.82, while the Cardano price witnessed a 6.42% jump, with trading volumes rising by 151.41% and 13.46% to $3.74 billion and $357.96 million, respectively.
Even meme coins shared in the optimism, with the Dogecoin price increasing by 2.62% to $0.06889, albeit with a 0.23% decrease in trading volume to $483.85 million. On the other hand, the Shiba Inu price surged by 3.53% to $0.000007959, with trading volume up 5.58% from the previous day, reaching $169.30 million.
These gains across major cryptocurrencies contributed to a notable upswing in the overall crypto market. The global crypto market cap rose by 2.85% from the previous day, reaching $1.31 trillion, with a market fear and greed index reading of 74, signifying a “greed” sentiment. The total market cap increased by 43.49% in the last 24 hours, now standing at $57.9 billion.
The crypto market’s surge highlights the growing interest in digital assets, with all eyes on the Federal Reserve’s forthcoming stance, poised to have a significant impact on the market’s future trajectory.
Also Read: ADA Price Shoots Past $0.30, Will Cardano Outperformance Continue In November?
The Top 4 Cryptos For Today Are
Pepe Coin Advances 3%
The Pepe coin has witnessed notable gains on November 2, amid a bullish sentiment in the market. The Pepe Coin price surged 2.62% to $0.000001155, with its volume over the last 24 hours rising 34.39% to $159.71 million, and its market cap rising 1.99% to $480.09 million. Over the last 30 days, the meme coin’s price noted gains of nearly 43% at its current price.
Celestia (TIA) Surges 21%
The Celestia price was up 21.28% to trade at $2.74 as of writing on Thursday, making it one of the top percentage gainers in the market today. Meanwhile, the crypto enthusiasts seem to have lauded the mainnet launch of the project, focused on data availability in the blockchain segment, on Tuesday.
Aave (AAVE) Rises 20%
The Aave price was another top percentage gainer on November 2, noting a surge of 20.43% to trade at $98.15 as of writing. Its volume over the last 24 hours skyrocketed 267.9% to $357.96 million, while its market cap jumped at a rate of 20.56% to $1.43 billion.
Uniswap (UNI) Gains 13%
The Uniswap crypto was also under the investors’ radar on Thursday, as seen by its recent price jump. The Uniswap price was up 12.51% and traded at $4.61 during writing, with its volume rocketing 256.37% to $464.35 million. Its market cap was up 12.41% to $2.71 billion during writing.
Also Read: SOL Price Jumps to 14-Month High As Solana Dodges FTX Unstaking
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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