Takeaways:
- The Federal Reserve has cut interest rates by 25 basis points
- There has been relatively little change in the crypto market, suggesting the cut is priced in
- November is still looking bullish as the Fed eyes another cut in December
- PEPENODE ($PEPENODE) and Bitcoin Hyper ($HYPER) could pump as a result
The crypto market may experience a rebound after the Federal Reserve Open Market Committee announced another interest rate cut on Wednesday, lowering the target Federal Funds rate to 3.75%–4% by reducing rates by 25 basis points.
Rumours are swirling of another rate cut in December, but it’s unclear whether the Fed will commit to it. The Chicago Mercantile Exchange predicts that another cut is pretty likely, with 74% of market participants believing the rate will drop to 350–375 basis points.
However, it seems that the current rate cut has already been priced into the market. Bitcoin is currently trading at $108K, a significant decline from its all-time high of $126K reached in September of this year. Given that October’s rate cut was widely anticipated, this isn’t a surprise.
That said, it’s looking as though November will be a bullish month for crypto. It’s usually one of Bitcoin’s best-performing months, and confidence in an additional cut in December should fuel another bull run for crypto, which is why we’re looking at PEPENODE ($PEPENODE), Bitcoin Hyper ($HYPER), and Chainlink ($LINK).
1. PEPENODE ($PEPENODE) – The First Mine-To-Earn Meme Coin with Rewards For Top Players
PEPENODE ($PEPENODE) is your ticket to a virtual crypto farming empire. It’s a crypto mining simulator with real crypto rewards for building the best, and its very own meme coin, $PEPENODE.
The PEPENODE project offers users who missed the early crypto mining boom a chance to become successful without having to buy expensive servers or spend countless nights learning how hardware cryptominers work.
Instead, PEPENODE offers a unique Mine-To-Earn experience where you purchase virtual servers with $PEPENODE, which can be used to boost your virtual hash rate. It all operates on-chain, so as you perform virtual mining, you’re rewarded with more $PEPENODE to spend or hold.
The $PEPENODE token is essential for maintaining the economy. You can refund any $PEPENODE used on your servers if you want to cash out, but doing so will reduce your earnings from your server nodes. The choice is yours, but there’s a way to maximize your chances going into PEPENODE.
Players who top the PEPENODE leaderboards could be rewarded with other meme coins such as $PEPE and $FARTCOIN in addition to making the most $PEPENODE.
The $PEPENODE presale is currently live, offering affordable tokens that you can use once the game launches. Nearly $2 million worth of tokens have already been sold before the release, but you can still get yours now for just $0.0011227. It’s a dynamic presale, so if you wait, the price will rise — making it one of the more exciting crypto presales to watch right now.
Any $PEPENODE you buy can also be staked to boost your war chest before you jump into the PEPENODE game. Currently, there’s an incredible 645% annual return on staking rewards if you buy now.
Join the PEPENODE project before the game goes live.
2. Bitcoin Hyper ($HYPER) – Hypercharging the Bitcoin Network with a Layer-2 Solution
Bitcoin Hyper ($HYPER) is a Layer-2 solution that upgrades the Bitcoin network with a Solana Virtual Machine (SVM) using zk-rollups. It’s intended to keep transaction fees lower when using the Bitcoin network, as well as speeding up clearing times and adding Web3 functionality to Bitcoin.
Bitcoin isn’t the perfect cryptocurrency, but it’s a solid long-term investment for investors. The issue with Bitcoin is that it’s extremely slow compared to other blockchains, making it nearly impossible to use in Web3 applications or for retail transactions.
That’s where Bitcoin Hyper stands out. By utilizing an SVM, Bitcoin Hyper can achieve the high-speed scalability of the Solana network while preserving the value of $BTC. It utilizes a Layer-2 solution to record temporary transactions, reducing congestion on the Bitcoin network, and later commits them on Layer-1.
Bitcoin Hyper also enhances Bitcoin with a Web3 upgrade. The SVM supports smart contracts, enabling dApp developers to create new applications for trading cryptocurrencies, sending NFTs, and DeFi functions, all utilizing $BTC as the core store of value.
Bitcoin Hyper uses $HYPER. It’s the utility token for Bitcoin Hyper, which grants access to certain features on dApps hosted on the Bitcoin Hyper blockchain. Holding it also lowers the crypto fees you pay for transactions, whether swapping coins or using dApps.
If you want to share your opinion on the future of the Bitcoin Hyper network, holding $HYPER grants you access to the DAO. Overall, $HYPER is quite helpful, which is why it has already raised over $25M in the Bitcoin Hyper presale.
You can buy your own $HYPER for $0.013195, but this price won’t last long. As the presale continues, the price will increase, and the staking rewards will decrease. Currently, you can stake any $HYPER you purchase for 46% in staking rewards.
Get your $HYPER tokens today and join the future of the Bitcoin network.
3. Chainlink ($LINK) – Providing Verified Off-Chain Data to Web3 Applications
Chainlink ($LINK) is a cryptocurrency token for Chainlink, a decentralized oracle network that supports other blockchains by providing off-chain data. It’s an industry-standard platform that enables developers and institutions to access all of the critical data required to run on-chain dApps using real-world information.
One of the biggest issues with on-chain dApps is the issue of trust. While any data on the blockchain can be cryptographically verified, this doesn’t apply to data introduced from outside sources internet.
Chainlink addresses this problem by offering a network of oracle nodes that developers can query for data. Each Chainlink node operator supplies data such as financial prices to smart contracts. When this information is requested, it is verified independently by the other nodes on the network, and the operator receives a reward in $LINK.
$LINK, like most crypto projects, is still recovering from the October flash crash. However, it remains above the price levels of $12–$15 seen during the summer. It is currently trading at $17, representing a 39% increase over the previous period.
As the cryptocurrency market expands, Chainlink is poised to become a pivotal component of the broader cryptocurrency ecosystem. News of rising institutional adoption could push $LINK back above the psychological $20 level, potentially leading to a strong November for the crypto market.
You can purchase $LINK through most CeX and DeXs.
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Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
Source: https://coindoo.com/next-crypto-to-explode-fomc-cuts-interest-rates/