Crypto markets see significant gains following the 25 bps cut at FOMC; Bitcoin reaches $117,300 while BNB, SOL, and other tokens surge in value.
Crypto markets experienced widespread gains after a 25 basis point interest rate cut by the Federal Open Market Committee. Bitcoin rose to $117,300 (+1%), Ethereum increased by 2%, and Solana jumped 5% to $247. Meanwhile, Binance Coin (BNB) surpassed $1,000 for the first time. Despite Bitcoin ETF outflows, new partnerships and product launches marked significant movements in the space, including Moneygram embracing stablecoins and Kraken teaming up with Circle for expanded USDC & EURC access.