March 24, 2023

Prices of most cryptocurrencies rose on Wednesday after the Federal Reserve raised interest rates by 0.75 percentage points in a continued effort to ease inflation.

The most popular cryptocurrency, bitcoin, was up 1.5% at $19,365 at the last check, while ethereum was down 0.2% at $1,353, according to CoinDesk.

Bitcoin and Ethereum also fell slightly before reversing after Federal Reserve Chairman Jerome Powell spoke about the latest rate hike, with a largely muted reaction from crypto investors.

The main increase in valuation was Litecoin’s 4.1% rise to $54.46.

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