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Crypto Today: BTC price breaches $97.5K as FOMC sparks gains in SOL, Alpaca and SUI staking markets:
Cryptocurrencies sector valuation posts mild 24-hours gains of 1% on Wednesday, prodding above $3.1 trillion for the first time this week.
BTC price crossed the $97,000 resistance, lifted by events surrounding the FOMC meetings.
As speculations around interest yield on USD-denominated assets intensify, staking yield protocols like SUI, Solana and Alpaca gained traction.
SUI has attracted over $1.7 billion in 24-hour trading volume outpacing higher-ranked assets including DOGE, BNB and Cardano.
Cryptocurrencies sector valuation posts mild 24-hours gains of 1% on Wednesday, breaking past the $3.1 trillion for the first time this week, according to Coingecko data. The US Federal Reserve dominated newsreels with a third consecutive rate pause accompanied by hawkish-leaning meeting notes.
An overview of directional flows of capital on Wednesday signals crypto investors leaning towards projects offering staking yield as market brace for another month of flat yield on risk-free USD instruments.
#BTC