{"id":17243,"date":"2024-09-24T18:35:33","date_gmt":"2024-09-24T15:35:33","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-surpasses-bitcoin-in-growth-following-fed-rate-cut\/"},"modified":"2024-09-24T18:35:33","modified_gmt":"2024-09-24T15:35:33","slug":"ethereum-surpasses-bitcoin-in-growth-following-fed-rate-cut","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-surpasses-bitcoin-in-growth-following-fed-rate-cut\/","title":{"rendered":"Ethereum Surpasses Bitcoin in Growth Following Fed Rate Cut"},"content":{"rendered":"<p>The second-largest cryptocurrency by market capitalization has outpaced Bitcoin in price growth following the recent 50 basis point rate cut by the <span data-descr=\"Federal Reserve System of the USA\" class=\"old_tooltip\">Fed<\/span>.<\/p>\n<p><!--more--><\/p>\n<p>Over the past week, digital gold has risen by 7.3%, while Ethereum has surged by 14.1%.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CoinGecko-32.webp\" alt=\"CoinGecko-32\" class=\"wp-image-241882\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>.<\/figcaption><\/figure>\n<p>Following the easing of monetary policy in the US, funding rates for perpetual futures based on Ether turned positive\u20140.0069% at the time of writing, according to <a href=\"https:\/\/www.coinglass.com\/FundingRate\">CoinGlass<\/a>.<\/p>\n<p>In a conversation with <a href=\"https:\/\/www.theblock.co\/post\/317658\/ethereum-outperforms-bitcoin-after-fed-rate-cut-signaling-bullish-market-sentiment\">The Block<\/a>, YouHodler exchange executive Ruslan Lienha emphasized that the current situation indicates a predominance of bullish sentiment. He noted the risks of a potential correction in the event of excessive optimism or changes in external factors.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe positive funding rate for Ethereum reflects increased demand for leveraged long positions,\u201d explained the expert.<\/cite><\/p><\/blockquote>\n<p>He reminded that funding rates are also quite volatile.<\/p>\n<p>The cryptocurrency fear and greed index remains at neutral levels:<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/fear_greed.webp\" alt=\"fear_greed\" class=\"wp-image-241883\"\/><figcaption class=\"wp-element-caption\">Data: <a href=\"http:\/\/alternative.me\">alternative.me<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cFunding rates on major exchanges are improving, and the underlying yield is becoming more attractive, especially considering the recent rate cut,\u201d noted QCP Capital.<\/cite><\/p><\/blockquote>\n<p>Experts at Bitfinex <a href=\"https:\/\/blog.bitfinex.com\/bitfinex-alpha\/bitfinex-alpha-consolidation-on-the-cards-for-btc-post-rate-cuts\/\">highlighted<\/a> positive trends in many altcoins but expressed concerns about increasing volatility.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201c<span data-descr=\"open interest\" class=\"old_tooltip\">OI<\/span> reached $11.48 billion, surpassing the August peak of $10.74 billion, which is a worrying sign of potential volatility in the altcoin market,\u201d the report states.<\/cite><\/p><\/blockquote>\n<p>At the time of writing, Bitcoin is trading around $63,530, and Ethereum is at $2,640. The total market capitalization is $2.33 trillion, according to <a href=\"https:\/\/www.coingecko.com\/en\/global-charts\">CoinGecko<\/a>.<\/p>\n<p>Earlier, ForkLog reported that a record $79.2 million was withdrawn from ETH-ETF since July.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The second-largest cryptocurrency by market capitalization has outpaced Bitcoin in price growth following the recent 50 basis point rate cut by the Fed.<\/p>\n","protected":false},"author":1,"featured_media":17242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46,1249,984],"class_list":["post-17243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum","tag-federal-reserve-system","tag-volatility"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=17243"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/17243\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/17242"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=17243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=17243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=17243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}