Tag: the merge

Is Ethereum Still A Good Investment?

Posted on by Augustine Ojeh

Ethereum is the largest smart contracts platform in the market. To understand how big Ethereum is, consider that most of the tokens in the market today are ERC-20 tokens.

If you have been looking to invest in Ethereum but are unsure whether it is a good investment, then you have come to the right place. Here, we will give you a detailed answer to the question, 

Ethereum Good For 2023?

To answer this question, we look at how Ethereum has performed over the years. We also give you a hint on the best cryptocurrency broker where to invest in Ethereum today.

When it comes to whether Ethereum is a good cryptocurrency investment, it is essential to consider several different factors. One of such factor is it’s performance over time, which can provide insight into how ETH may perform in the future.

However, it is also essential to look at the real-world uses of Ethereum. This will help better assess how its value may change over time. For example, the growing adoption of decentralized applications has made ETH an attractive option for various industries.

Overall, considering all of these factors together provides valuable insight. One we need to determine whether or not Ethereum is an excellent cryptocurrency to buy in 2023 or not. 

However, while there are no guarantees when it comes to investing, by doing your research and considering all potential risks and rewards, you can be better equipped to make smart investment decisions regarding ETH and other cryptocurrencies.

Also, while there are many different blockchain networks, ETH is widely regarded as one of the most advanced. It is also described as a very well-established option. Furthermore, not only does Ethereum allow for easy cryptocurrency payments, it is also perfect for developing smart contracts. That also includes distributed applications.

What About Ethereum And NFTs

The Blockchain is currently leading the way in developing smart contracts. This makes it the blockchain network of choice for top NFTs and some DeFi tokens in the market.

But with that said, is Ethereum a good cryptocurrency investment in 2023? The answer is yes. Ethereum is one of the most highly regarded and widely used blockchain platforms. Furthermore, not only is Ethereum widely adopted, but it can also adapt to the growing demand. This makes it a truly robust network that can stand the test of time.

The Merge Is A Good Thing

Meanwhile, Ethereum’s ability to adapt to growing demand is evident in the recent shift to Ethereum 2.0. This new version of the platform represents a major step forward in terms of scalability and speed. As a result, it allows more transactions per second than ever before while minimizing fees and latency.

With these enhancements, Ethereum will certainly provide an unparalleled level of utility for users worldwide well into the future. So, whether you’re trading ETH on exchanges or building blockchain applications, This blockchain network is a solid choice. Especially for anyone looking for long-term value and flexibility in their cryptocurrency portfolio.

However, before you buy a cryptocurrency, it is essential to look at its past price action. This will give you an idea of how its price moves. Consequently, you get an idea of whether it is a good investment going into the future. On this front, Ethereum is a pretty good cryptocurrency to invest in in 2023.

The current second largest cryptocurrency entered the market in July 2015, trading at $0.75. After multiple highs and lows after launch, the digital currency hit an all-time high of $1360 in January 2018. However, it collapsed in the bear market that followed. Eventually, by the end of 2018, it was trading at under $100.

Tamadoge To Launch 1000 New NFTs Today

Posted on by Augustine Ojeh

Trending NFT project Tamadoge (TAMA) has been turning heads recently following the launch of its NFT collections. 

While the October 6th release of the ultra-rare NFT collection sold out quickly, investors have another chance to acquire some Tamadoge NFTs. This is possible thanks to the October 17th release of the rare Tamadoge pet collection.

What Is Tamadoge?

Tamadoge is a new meme coin with a distinct focus on utility. In contrast to the majority of meme coins, Tamadoge is unique. Other tokens generate hype but provide little in the way of intrinsic value. However, Tamadoge blends some of the hottest sectors within cryptocurrency. They do this in order to create a diverse and value-rich ecosystem that crypto enthusiasts love.

The project allows users to explore a Metaverse world known as the Tamaverse. They do this while raising 3D-animated NFT-based pets and interacting with other players. 

Leveling up a Tamadoge pet using items from the in-game store will reward the owner with Dogepoints. Furthermore, it will also boost their leaderboard ranking and increase the share of the rewards pool. Especially to the degree to which the holder is entitled. 

The Tamadoge NFT Collections

Recently, Tamadoge launched its first NFT collection – a series of 100 ultra-rare pets with boosted stats. This collection sold out quickly, even briefly hitting the number 1 trending spot on OpenSea. 

Tamadoge has now launched its second collection, a series of 1,000 rare NFTs. 

Each Tamadoge NFT features unique artwork and is attributed various stats that will affect the pet’s performance. The most obvious way it can be affected is in the upcoming Tamdoge arcade-style and flagship games. 

Meanwhile, the current Tamadoge pet NFTs will be usable in the mini-games. Consequently, holders will also be airdropped a Tamadoge puppy once the full game is released.

Furthermore, the ultra-rare Tamadoge collection has gone from selling for roughly 1.5 to 3-ETH each to a price of 5.99-ETH. 

This happened within the space of a week and we could see huge moves for the rare and common NFTs. It’ll be interesting to see how things progress. But as it stands today, Tamadoge could be the best NFT drop in 2022. 

Big Eyes Is On The Rise

Big Eyes Coin has attracted a lot of attention since its inception. The new platform provides its users with an array of services from which they can earn and save tokens. Big Eyes Coin has adopted a unique zero-tax policy on shopping so you can save more of your BIG tokens!

The Big Eyes Coin platform is built on the Ethereum blockchain, utilising its newly updated Proof-of-Stake consensus. This is to increase its transaction speed while reducing its environmental impact. Big Eyes Coin will donate 5% of its tokens to ocean conservation efforts to protect a crucial part of our ecosystem. Not only that, but to also showcase its commitment to sustainability.

NFTs will become a big part of the Big Eyes Coin ecosystem when they launch at stage three of the roadmap. Big Eyes Coin is moving away from having NFTs as something to look at. Instead, Big Eyes Coin is bringing utility to NFTs and using them as keys to access exclusive events and clubs.

Ethereum Merge Helps NFT Transactions

Now Ethereum is a Proof-of-Stake platform, users can take advantage of its fast transaction speeds that can reach up to 100,000 per second at its peak performance. Those worried about the environmental impact of Ethereum can put their mind at ease. With the new update, Ethereum has reduced its carbon footprint by 99%.

Ethereum hosts the most popular NFT marketplace in the blockchain industry, OpenSea. Since the Merge has increased transaction speeds, OpenSea users will enjoy increased speeds with potentially lower fees.

The Cryptocurrency Market Is Bracing For A Feds Tsunami

Posted on by Augustine Ojeh

Bitcoin and cryptocurrency prices have crashed this year in the face of the Federal Reserve’s “brutal” interest rate hikes as it battles against soaring inflation.

The bitcoin price has plunged under $20,000 per bitcoin. This is down from almost $70,000 late last year. 

Meanwhile, ethereum and other top ten cryptocurrencies BNBBNB, XRPXRP, solana, cardano and dogecoin have also crashed. This is happening despite some game-changing developments such as ‘The Merge‘.

The Reality Of The Cryptocurrency Market

Currently, following a stronger-than-expected U.S. jobs report this week, things are shaky. The report sent the bitcoin price sharply lower. 

Consequently, all eyes have turned to the latest consumer price index (CPI) report, due on Thursday. Some think it will “decide the fate of this market.”

“CPI next week will decide the fate of this market,” one influential trading analyst posted to Twitter. He did this after data showed U.S. employers added 263,000 jobs in September. This was down from 315,000 in August but higher than an anticipated 255,000.

“With this jobs report it seems clear we are on course for another significant hike from the Fed. I say this considering the market pricing in a 75 [basis point] rise in interest rates at its next meeting.” The above statement was by Paul Craig, portfolio manager at Quilter Investors, told Coindesk.

Consumer Price Index

September CPI is predicted to have slowed slightly from the month before, forecast to drop to 8.1% year-on-year. A larger-than-expected slow down in price rises could mean the Fed eases up on its program of interest rate hikes.

The last U.S. CPI reading of 8.3% showed prices were still climbing. Prices climbed despite the Fed embarking on a series of historic interest rate hikes this year. This led to torpedoing stock markets and cryptocurrency prices.

“Worries are firing in from all fronts following the latest robust snapshot on the U.S. labour market.” The above comment was by Susannah Streeter, senior investment and markets analyst at brokerage Hargreaves Lansdown. 

“Investors are simultaneously fretting that the fall in the pace of hirings indicates a slowing economy. However, also that the better than expected data shows that the jobs market hasn’t slowed enough to stop the Fed. Especially from hiking rates aggressively.”

Cryptocurrency Losses So Far

The bitcoin and crypto market, after touching $3 trillion last year, has lost a staggering $2 trillion. This happened in under 12 months in what’s been branded the latest crypto winter. 

The crypto market has previously spun on cycles of boom and bust with the last crypto winter lasting through 2018 until late 2020. 

This week, one crypto founder predicted how long this latest crypto winter could last.

“We will need to see some consistent economic slowing figures before the Fed-pivot trade is realistically in play.” The above statement by William Marsters, senior sales trader at Saxo, said in an emailed note. “CPI numbers and FOMC minutes are out next week which will continue to build the picture for the outlook.”

Expectations had built this week. Expectations that the Federal Reserve could be about to swing dovish in its flight against inflation. Especially with one closely-watched analyst predicting the price of bitcoin, it could be about to “outperform most major assets.”

However, Minneapolis Fed president Neel Kashkari said this week that the central bank has “more work to do.”

“Until I see some evidence that underlying inflation has solidly peaked. Until there are signs of it heading back down, I’m not ready to declare a pause,” Kashkari said.

Bitcoin And Ethereum Could Be Poised For Recovery

Posted on by Augustine Ojeh

The bitcoin price has been bouncing around $20,000 per bitcoin since mid-June (despite some eye-popping bitcoin price predictions). However, ethereum has fallen sharply in the aftermath of its long-awaited, energy-saving upgrade, flying in the face of expectations.

Now, as Blackrock and Fidelity make surprise moves to enter the bitcoin and crypto market, a new finding surfaces. A survey of professional investors who collectively manage $2.2 trillion in assets has returned a huge crypto price prediction.

How Investors Are Taking This Bitcoin Price Action?

Institutional investors and wealth managers were found to be optimistic about the future price of bitcoin and ethereum. Furthermore, 46% forecasting bitcoin will be worth $35,000 or more within six months. However, 64% predict the price of ethereum will exceed $2,000 during the same period.

“Predicting future price movements in the cryptocurrency market is always a challenging endeavor. However, the survey clearly points to constructive price recovery expectations by institutional investors.” This was stated by Anatoly Crachilov, the chief executive of London-based crypto asset manager Nickel Digital.

Meanwhile, over half (58%) of respondents said they expect the crypto bear market to end within six months. This suggests a spring price rally.

“It is a well-grounded long-term optimism,” Crachilov added. “Investors acknowledge that the ongoing crypto winter still has some way to run but there is also a recognition that, if history is any guide, once the winter ends these high-beta markets will stage strong recovery.”

This Week on Bitcoin And ethereum

This week, as the stock market buckled under pressure from the Federal Reserve and fears rampant inflation could require an even stronger response.  Bitcoin, and other crypto prices climbed before falling back, with the bitcoin price dropping to just over $18,000.

“The $18,000 level has continued to provide decent support and if bitcoin doesn’t break down in the coming days, we could see upward movement in October with $24,000 and $26,000 being initial levels to watch,” Joe DiPasquale, the chief executive of bitcoin BitBull Capital, said in emailed comments.

After a sharp drop in the last few days, crypto tokens regained some flair. Top crypto tokens were moving in tandem with other riskier assets, rising higher on Thursday.

Whats Up With The Crypto Markets In Russia

Russia escalated its unprovoked invasion of Ukraine and the prospects of a severe global recession increased exponentially. Consequently Bitcoin, the largest cryptocurrency by market capitalization, was trading above $19,000.

Barring the US dollar-pegged USD Coin, all top crypto tokens were trading sharply higher on Thursday. BNB zoomed more than 5%, whereas Bitcoin, Solana and Ethereum rallied 4% each. XRP and Polygon were 3% up.

The global cryptocurrency market cap was trading significantly higher at $941.75 billion, jumping by 3% in the last 24-hours. However, the total trading volume tumbled over 12 per cent, close to $82.32 billion.

Expert take

This week, the global crypto market cap saw rapid changes with key cryptocurrencies including Bitcoin and Ethereum plummeting. The tokens dropped below their reserve prices but only to make corrections as spot volumes increased. According to Prashant Kumar, Founder & CEO, weTrade.

“Almost a fortnight after the Merge, Ethereum is trading at $1,300,” he added. “The strengthening US dollar, increased rate hikes and calls for broader regulations for stablecoins by the US Federal Reserve chair are all affecting the market.”

On the global scene, AQUA, a Web3 community platform for gamers, has launched its flagship marketplace for trading in-game assets. The startup also announced a $10 million investment from DIGITAL, an investment firm backed by Steve Cohen.

Ethereum Crashes After A Successful Merge

Posted on by Augustine Ojeh

The much awaited Ethereum Merge has come and gone. The aftermath of this event is still rather uncertain. However, it seems that the “Successful Merge” has produced some sort of reaction from the crypto society. It is not the reaction many were expecting. Ethereum is down by nearly 8% after the merge.

The second largest cryptocurrency in the world is now trading at $1,500 for the first time in more than a week. The plunge came from the merge, shifting from a more energy-intensive model  to a more eco-friendly one. 

What Exactly Is causing This Drop In Ethereum Prices?

The Ethereum merge went off without a hitch from a tech perspective. However, sentiment around ETH after the shift to a more environmentally-friendly consensus model might be dipping. Today, the price of ETH plummeted below the $1,500 mark for the first time in more than a week.

According to data from CoinGecko, ETH is down almost 8% over the last 24 hours to a current price of $1,485. That’s a sharper drop than the rest of the crypto market right now. According to CoinGecko it is down about 3% on the whole, with Bitcoin down about 2%.

Initially, the price of ETH had remained largely flat after the overnight merge, hovering around the $1,600 mark with slight fluctuations. However, shortly after 10AM ET this morning, the price sharply dipped from about $1,585 to its current mark. The move is not altogether unexpected.

In a report in early August, crypto analytics firm Glassnode flagged data on derivatives exchanges. One that indicated that the merge was shaping out to be a “sell the news” event. 

The hype around the merge appeared to be generating bullish sentiment around Ethereum in July. However, sophisticated derivatives traders were already hedging their bets. They did this expecting the price of ETH to drop after the event, according to Glassnode.

Ethereum’s Sell-The-News In play

“Traders appear to be utilizing call options to bet on the ETH price into September, whilst futures and options backwardation indicate an expectation to sell-the-news is in play,” Glassnode researchers wrote in a report at the time.

The merge is Ethereum developers’ name for the long-awaited shift away from the original proof-of-work consensus model. A model in which thousands upon of users run powerful computers to secure the network and also earn cryptocurrency rewards.

Under the new proof-of-stake model—in which validators stake (or hold) coins in the network to process transactions—the network is estimated to use over 99% less energy than before, according to the Ethereum Foundation.

While many Ethereum proponents were in favor of the merge, some ecosystem participants were less thrilled. For example, some have forked the previous version of the network to create the new EthereumPoW (ETHW) network. This will retain mining, while other miners have instead started mining coins like Ethereum Classic (ETC) or Ravencoin (RVN). 

The Current Price Of Cryptocurrencies Today 

Meanwhile, on the general cryptocurrency scene, bitcoin and other cryptocurrencies are strugging. 

“The current pressure on the crypto market is a result of a broader sell-off in the traditional markets. Especially as investors move away from high-risk assets to safeguard their wealth from economic shocks. The soaring cost of food and energy along with geo-political uncertainty will keep the investors on their toes in the coming weeks.” said Tarusha Mittal, COO and co-founder of UniFarm.

Bitcoin could not recover on the day as it continued to trade below the $20,500 markThis is a crucial point for the world’s largest cryptocurrency. Bitcoin price today was standing at $20,172.85, down by 0.37 per cent in the last 24 hours, according to data from CoinMarketCap.

Why The Merge Could Change The Future Of Cryptocurrency

Posted on by Augustine Ojeh

The cryptocurrency community is abuzz about what could prove to be a landmark event. A major upgrade dubbed “the Merge” of the Ethereum blockchain. 

Crypto enthusiasts say the Merge will greatly reduce the environmental impact of cryptocurrency mining. It also enhances its utility as a way to conduct financial transactions. Amongst other uses. 

But what exactly is the Merge, and how it could change the future of crypto?

What is the Merge?

Ethereum, launched by Canadian computer programmer Vitalik Buterin in 2015, is a blockchain (or a digital ledger). 

It’s one of the world’s most used blockchains, second only to the bitcoin network. Think of the Merge as the next generation, or 2.0 version, of Ethereum. After nearly two years thinking about and testing a new way of conducting transactions, Ethereum developers say it’s finally ready for prime time. 

Put simply, the Merge aims to simplify the transaction steps on the Ethereum network. 

The change is called “The Merge” because, currently, there are several ways to create a new data block. Developers plan to combine those existing methods into a single process. One they say is both more secure and eco-friendly.

When Is It Going To Happen And Why Now?

The Merge is to take place on the 15th of this month (September).

The Merge is happening now because Ethereum is mature enough to handle financial payments. In addition, the network is also deemed fit enough to  store non-fungible tokens and trade crypto, said blockchain expert Merav Ozair.  

Ethereum can carry out 15 transactions per second in its current form, said Ozair. Ozair founder of startup company Blockchain Intelligence. 

However, if the Merge is successful, the blockchain could eventually handle up to 100,000 transactions per second. This is “way above and beyond what Visa and Mastercard can do,” she said. 

How Would The Merge Reduce Carbon Emissions In Cryptocurrency?

In a blockchain network, transactions aren’t verified by a bank, credit card company or other third party. 

Rather, it relies on a network of computers competing to solve complex problems in exchange for tokens. It takes thousands of computers to verify transactions on the Ethereum blockchain, a process known as “proof-of-work.” 

All of those powerful server computers chugging away together require vast amounts of power. 

The Ethereum blockchain uses about 112 terawatt-hours of electricity a year. That is roughly the same amount of energy used to power the Netherlands. That level of energy consumption releases about 53 metric tons of harmful carbon emissions into the environment annually. This is the same amount Singapore produces in a year.

The Merge replaces the proof-of-work system with an alternative approach called “proof-of-stake.” 

In that system, cryptocurrency owners known as “validators” verify transactions and record them on a new block. 

It is because proof-of-stake involves fewer people using their computers to verify transactions, fewer terawatt-hours are burned. 

Using proof-of-stake, the Merge is projected to reduce ethereum blockchain’s energy consumption by 99.9%, developers said. 

Will the Merge make it safer to use cryptocurrency?

Quite possibly. Since December 2020, Ethereum developers have been running essentially two different versions of the blockchain at the same time. 

The Beacon version was used so they could test the proof-of-stake system, while the Mainnet version carried on with business as usual using proof of work. But having both versions running gave hackers twice as many entry points to potentially attack Ethereum. 

After the Merge, the Mainnet version will disappear and financial transactions will only live on Beacon. Deleting one version of the chain, combined with having a small pool of validators, will reduce the odds of a hacker harming the blockchain, developers said. 

Why NFTs Are Misunderstood

Posted on by Augustine Ojeh

When you mention NFTs to your friends, there’s a high chance that what comes to mind is overpriced artworks. Expensive JPEGs that sell for millions of dollars, and that’s a problem.

This is the mindset of a person who believes that the internet is only a play tool. A place to share memes and chat with friends.

Now that NFT collectible prices have crashed, real innovation can happen, and this stigma can be broken as better uses of NFTs are explored.

What Really Are NFTs?

“Non-fungible tokens,” are a type of cryptocurrency where each token is unique from the rest. And contains an embedded URL linking to its unique content and metadata. 

NFTs are comparable to deeds of ownership where the URL points to the thing the token grants ownership of (allegedly, always check the fine print). 

One which affords tremendous flexibility in what NFTs can do and represent. Unfortunately, during the 2020-2021 cryptocurrency bull-run, investors and retail speculators threw millions into NFT profile picture collections. 

They did this with no use cases, often paying $100-$1000 to mint each token hoping to land the next million dollar NFT. 

This only incentivized more collections and various knock-offs to emerge as blatant copy-paste cash-grabs. The kind that was understandably leading to the misunderstanding of NFTs today.

How The Misunderstanding Began

The explosive new from NFT projects like Bored Ape Yacht Club and CryptoPunk didn’t help mainstream awareness. 

This brought about absolute confusion amongst non-crypto populates. Especially those still struggling with the concept of NFT.

However, on OpenSea, one would notice that there are more sections than just collectibles. Sections like Music, arts, photography, sports, land plots and avatar gear for the virtual world. There are also sections for utility NFT and NFT domain names for crypto wallets.

NFTs are especially suitable for blockchain-gaming and purchase of Metaverse items. This allows the existence of virtual property with real-world value. 

For example, the virtual metaverse worlds Decentraland and The Sandbox both have NFT-based economies. Both with scarce NFT land plots running thousands of dollars. 

Players can create and sell their own NFT avatar gear on in-game marketplaces. Blockchain gaming and “GameFi” sectors also use it extensively. 

Their applications include the adorable yield-generating Aavegotchi pets or the wildly successful Axie Infinity battle-pets. 

These four examples are vastly more interesting than JPEG collectibles, yet they receive little attention outside crypto.

Crypto Wallets And NFT

One powerful feature that is commonly underrated is the ability to check a crypto wallet for particular NFT. 

This feature is widely used for private Discord servers. A situation where a bot is used to auto-approve and kicks Discord users based on which NFT they own. 

NFT-based DAO governance communities utilize this ability for assigning roles and voting power. 

Websites can check for NFTs in a visitor’s crypto wallet, providing hidden areas/content for them to discover. 

Just How Useful Are NFTs?

NFTs can even be used for selling online professional services as tokens. This is done using free market economics to determine the price for that service.

NFT source code is open-source, allowing developers to experiment with new and exciting features for their NFTs. 

NFTs can apply in representing real-world items and property deeds. It can do this using the blockchain to record transactions and ownership data instead of private databases. These examples barely scratch the surface of what NFTs can do, and all of them are more interesting than collectible JPEGs.

The Ethereum Unexpected Surge

Posted on by Augustine Ojeh

Ethereum’s long-anticipated software upgrade has made the blockchain’s early offshoot an unexpected winner, pushing up the prices of the latter’s token in recent days.

Ethereum-Classic

Ethereum Classic, which was created after a 2016 software change known as a “hard fork” on Ethereum’s blockchain, saw its token’s price jump by as much as 29% on Wednesday. 

Ethereum also rose by as much as 18% as the crypto industry awaits the blockchain’s biggest transition. A transition known as the Merge. This will take place in September after being delayed for several years. 

Cryptocurrencies surged across the board on Wednesday amid a broad rally in risk assets. Bitcoin rose as much as 10%, the most in more than a month.

The Merge: From Proof-of-stake To Proof-of-work

The Merge is set to take Ethereum to a system called Proof of Stake. A system in which staked Ether tokens will order transactions, from its current system called Proof of Work. Proof-of-work is a mechanism which uses powerful computers to order transactions.

“If you want to cancel Proof of Stake, we are not going to cancel you… there’s Ethereum Classic, which is the original Ethereum,” he said. “It’s a very welcoming community and I think they’ll definitely welcome proof of work fans. It’s not even a joke. If you like proof of work, you should go use this original version. It’s a totally fine chain.”

Buterin’s comment has helped “drive speculation” among traders, Thomas Dunleavy, senior analyst at crypto research firm Messari, said. 

The Ethereum based software, which still uses the Proof-of-Work mechanism, may be one of the biggest beneficiaries of Ethereum’s migration. The migration is expected to cut off earnings for as many as one million people. Miners who are looking for a platform for their costly mining equipment may turn to Ethereum-Classic. 

The “original Ethereum” was pushed further into the limelight after AntPool. The mining pool affiliated with mining giant Bitmain Technologies Ltd., said it has invested $10 million to support it.

But analysts remain skeptical of the fate of Ether’s sister token. Since its inception, Ethereum-Classic, has never gained a similar level of success as Ether. Its network has also suffered several attacks in the past.

“This seems like a trade more than an investment,” Dunleavy said. “I don’t think Ethereum has any long-term viability.”

Bitcoin And Ether Surge After Fed Rate Hike

The U.S Central Bank delivered as expected rising interest rates. 

Consequently, the crypto market Shrugged, continuing their 2 days journey upslope. Bitcoin is the first to be noticed. The coin jumped by a serious 10% following the announcement from the Federal Reserve. Ether Soared by more than 15% at some point.

Bitcoin was recently trading at about $22,900, up over 8% for the past 24 hours. The largest cryptocurrency by market capitalization has mostly lingered between $21,000 and $23,000 for 10 days now. Ether was recently changing hands just above $1,600. It was up more than 15% over the same period. Other major cryptos spent much of Wednesday in the green. ETC up more than 30% and UNI and AAVE each rising over 20%.

Many market observers believed markets had already accounted for the Fed’s rate hike. A hike which the bank has been foreshadowing for over a week. “A lot of people are saying that the rate hike right now is baked in just because the Fed has telegraphed for quite a while. And even equity markets have been setting quite a bit.” Katie Talati, head of research at asset management firm Arca.