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Bitcoin Tops $23,000 While Ethereum Surges To This Level, Here Are The Top Crypto Movers For Thursday

Bitcoin (CRYPTO: BTC), the world’s most valued cryptocurrency, managed to surpass the $23,000 mark on Thursday morning following the Fed’s rate decision. The US Federal Reserve boosted interest rates by 0.75% on July 27 in a bid to contain the surging inflation level.

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Understanding How Stablecoins Have Fared In The Crypto Bear Phase

Cryptocurrencies have long been considered a hedge against inflation and a better alternative to fiat currencies that are susceptible to devaluation concerns. Most cryptocurrencies have significantly underperformed benchmark stock market indices due to liquidity pressures brought about by the tightening of monetary policy by leading central banks such as the U.S. Federal Reserve.

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