The Crypto Market Surges with a $1.6 Trillion Market Cap
In an impressive turn of events, the crypto market experienced a significant surge in the last 24 hours. The market cap reached $1.6 trillion, resulting in a 4.78% increase. Bitcoin played a key role in this uptick as its trading price exceeded $40,000. This surge in market cap and trading volume highlights the resilience and growing participation in the global crypto landscape.
Bank of Canada Expected to Maintain Current Interest Rate
Due to recent economic contractions and growth concerns, analysts predict that the Bank of Canada will keep its current interest rate of 5% unchanged. This rate is the highest in 22 years. Despite consecutive hikes in June and July, the central bank is prepared for further tightening to address persistently high inflation. The Canadian economy experienced a 1.1% contraction in the third quarter, and upcoming mortgage renewals at higher rates may continue to impact growth in the future.
Top Trending Crypto Coins on DEXTools
The upcoming Bitcoin halving, set to occur next year, has sparked a surge in various cryptocurrencies. One such coin is Etherland (ELAND), which has seen a 141.66% gain in the past 24 hours and a 692.25% increase in the last seven days. The ELAND token is the fuel behind Etherland’s revolutionary ecosystem, which aims to revolutionize the real estate
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