The crypto coins market is poised for a significant rebound, with several coins predicted to triple in value. This comes ahead of the US fed rate decision in September. Among the cryptocurrencies forecasted for a robust surge are TRON (TRX), Cardano (ADA), ConstitutionDAO (PEOPLE), and MAGA TRUMP.
How US Fed Rate Decision Affects Crypto Coins And Risk-On Assets
The Federal Reserve’s recent minutes indicate that a fed rate decision in September is becoming increasingly likely. Markets have fully factored in this potential decrease, with significant implications for cryptocurrency values.
When liquidity rises due to lower interest rates, spending and investment in risk-on assets like crypto markets and stocks typically increase.
However, the latest Nonfarm Payrolls (NFP) data revisions present a sobering counterpoint, revealing 818,000 fewer jobs than previously reported. This unsettling update heightens recession concerns and could temper the usual bullish response to a rate cut. Currently, Bitcoin hovers around $61,000, hinting at underlying strength that could support a rally among various cryptocurrencies.
4 Crypto Coins That Could 3x Before US September Fed Rate Decision
TRON (TRX)
TRON (TRX) has recently significantly outperformed the cryptocurrency realm. Over the past month, the TRX price rose over 16%, hitting around $0.1558 on August 23. Justin Sun’s recent legal victory against the SEC has bolstered investor confidence, leading to more TRX purchases. If the market gains more bullish, the TRON price prediction could hit new highs ahead of US September Fed Rate Decision.
The debut of the SunPump meme coin platform also spiked Tron’s network activity, increasing TRX demand. Furthermore, TRX’s recent technical breakout from a bullish Cup and Handle pattern suggests the potential for further gains.
Moreover, TRON’s network has seen a notable surge in Total Value Locked (TVL), highlighting increased investor trust and network activity. This boost in TVL underscores a heightened engagement and optimism among participants. As reported by DeFiLlama, TRON’s current TVL stands at $8.17 billion, reflecting robust market participation and investor interest.
Cardano (ADA)
Cardano (ADA), a leading proof-of-stake blockchain, is attracting heightened attention as it prepares for the Chang hard fork on August 27th. This significant update will overhaul Cardano’s governance structure, enhancing community involvement and shaping the network’s trajectory.
Over the past week, the price of ADA price has climbed by 11% to $0.3817, with expectations of further increases as the Fed Rate Decision approaches.
The cryptocurrency ADA has experienced a notable rise in its MVRV ratio, indicating a potential bullish trend ahead. This uptick suggests that investor profits have increased significantly over the past week, fueling optimism in the market.
ConstitutionDAO (PEOPLE)
ConstitutionDAO (PEOPLE) emerged from a crowdfunding initiative by Web3 advocates aiming to buy a rare U.S. Constitution copy at auction. Though unsuccessful, the bid led to the creation of the PEOPLE token.
This token signifies ownership in the decentralized ConstitutionDAO. The project’s community-driven approach has notably boosted its value, witnessing a 21% rise this past week and an astonishing growth of 1400% since its inception currently at $0.06068.
MAGA (TRUMP)
MAGA (TRUMP), a cryptocurrency inspired by Donald Trump, has led the pack among Trump-related tokens by market size. Since its debut in August 2023, the MAGA price has experienced substantial growth. Notably, the coin surged this week by 36%, signaling a robust bullish trend.
Currently, MAGA.TRUMP is trading at $3.91, a remarkable increase of 23,492.97% since its initial offering. This rise is largely credited to anticipatory movements related to the upcoming US election.
If this upward momentum maintains its pace, MAGA could potentially break the $5 to $6 range soon. With sustained investor enthusiasm, a surge up to $10 is conceivable. This speculation hinges on continued positive trends and increased market pressures.
Anticipating the Fed Rate Decision potential rate cut, TRON, Cardano, ConstitutionDAO, and MAGA TRUMP are poised for growth, fueled by increased liquidity and investor enthusiasm in risk-on assets, despite potential recession concerns from revised NFP data.
Frequently Asked Questions (FAQs)
The Chang hard fork for Cardano, scheduled for August 27th, aims to overhaul the blockchain’s governance structure, enhancing community involvement and potentially leading to greater network development and investor interest.
A potential rate cut by the US Federal Reserve could increase liquidity, prompting higher spending and investment in risk-on assets, including cryptocurrencies, potentially boosting their prices.
The next U.S. presidential election is scheduled for November 5, 2024.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/4-crypto-coins-eye-3x-growth-before-us-september-fed-rate-decision/
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