Avalanche (AVAX) Rallies On Fed Rate Cut, DeFi Growth Boosts Long-Term Outlook

Quick Summary:

As it keeps increasing its total value locked (TVL), Avalanche is also making great strides in the decentralize finance (DeFi) department.From 28.1 million AVAX in Q1 to 30.8 million AVAX in Q2, Avalanche’s TVL has climbed by 11% in recent months, data from DeFiLlama shows.

This abrupt increase fits a larger recovery across the crypto market driven by a significant shift in the US financial scene: the Federal Reserve’s decision to lower interest rates.

Related Reading: XRP Price Surge Could Hit 9,470% — Analyst Predicts $27 Target In Bold Forecast The Fed lowered interest rates by 50 basis points on September 18, therefore defining the new range as 4.75%-5%.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: United KingdomCanadaSouth KoreaPhilippines

Topics: AVAX DeFi Avalanche Altcoins Crypto Cryptocurrency Market News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-21 @ 02:30:52 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 448 words

Reading Time: 3 minutes read

Sentences: 72 lines

Sentence Length: 7 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22627981

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