CRYPTO NEWS

QTUM is the #3 Coin to Watch for the Week of August 1 – August 7, 2022

We have reported about several important developments concerning the U.S. and global economy last week. In brief, the Federal Reserve (Fed) has announced a second consecutive 0.75%. interest rate increase on Wednesday. By hiking up the interest rated, the Fed aims to battle the raising consumer goods prices and crippling inflation. With higher interest rates money becomes more expensive to borrow, resulting in a lower consumption – people and companies are spending less and saving more. In theory, this slowdown of the economy should result in the return to baseline prices for goods. In addition, we have written about the Bureau of Economic Analysis reporting a decline in the U.S. GDP for the second quarter in a row. Nevertheless, despite the slowing economy both stock and crypto markets posted gains last week – Bitcoin gained 5% in the last 7 days while ETH is up by more than 7%. The total cryptocurrency market capitalization climbed from $1.08 trillion to $1.15 trillion last week.

QTUM is the #3 Coin to Watch for the Week of August 1 – August 7, 2022

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