Cryptocurrency

Defi

Uniswap

Bitcoin

<div class="cryptonews">
 <p class="is-style-lead">Cryptocurrency prices reacted positively to the Federal Reserve’s latest decision on <a rel="noopener noreferrer nofollow" title="interest" href="https://thebittimes.com/tag/interest.html">interest</a> <a rel="noopener noreferrer nofollow" title="rates" href="https://thebittimes.com/tag/rates.html">rates</a> on Nov. 1.</p>
 <p>Defi tokens like AAVE and Uniswap (UNI) led the way, rising over 20% in a moment. AAVE rose to $98.13 and Uniswap’s UNI rose to $4.80. These tokens are thriving due to the overall significance of the cryptocurrency rally.</p>
 <p>In the case of Uniswap, the <a rel="noopener noreferrer nofollow" title="rally" href="https://thebittimes.com/tag/rally.html">rally</a> means demand for cryptocurrencies will increase as investors try to follow the crowd. In the stock <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>, it was already seen Coinbase’s share price skyrocketed this week. When writing, UNI trades at $4.65, up 13.6% in 24 hours.</p>
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   <img decoding="async" width="1662" height="824" src="https://cdn.thebittimes.com/images/2023/11/02/2a4e24c2537b7f8d909bd1cc27d72617.webp" alt="Uniswap price | Source: CoinMarketCap"> 
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   Uniswap price | Source: CoinMarketCap
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 <p>Likewise with AAVE: as cryptocurrency prices rise, there is a possibility that demand for its lending projects will continue. Indeed, the total value locked in many DeFi protocols has jumped, according to DeFi Llama. Now AAVE is trading at $94.21, up 14.11% in 24 hours.</p>
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   <img decoding="async" width="1682" height="816" src="https://cdn.thebittimes.com/images/2023/11/02/347a0bd06102969befc8d4c905f0cf51.webp" alt="Altcoin market rises amid Bitcoin rally and U.S. interest rates - 1"> 
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   AAVE price | Source: CoinMarketCap
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 <p>The rise in altcoins comes after Bitcoin&nbsp;went higher on November 1st. At that moment, BTC approached the $36k level, near which the coin was last in May 2022. Afterward, Bitcoin entered a correction.</p>
 <p>Bitcoin rose amid the US Federal Reserve’s decision to leave its key <a rel="noopener noreferrer nofollow" title="interest" href="https://thebittimes.com/tag/interest.html">interest</a> rate unchanged for the second time. Refusal to further increase it is a positive signal for the <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a>. Such actions may indicate that a rate-cut period is approaching.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-market-rises-amid-bitcoin-rally-and-u-s-interest-rates-tbt68778.html">https://thebittimes.com/altcoin-market-rises-amid-bitcoin-rally-and-u-s-interest-rates-tbt68778.html</a></p>

Altcoin market rises amid Bitcoin rally and U.S. interest rates

TheBitTimes

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