Market Moves: Cosmos' ATOM token gains on the hope of more uses for the Cosmos blockchain – bucking the overall bearish mood that appears to have taken hold in crypto markets following last week's Merge on the Ethereum blockchain. Omkar Godbole reports.
This article originally appeared in First Mover, CoinDesk’s daily newsletter putting the latest moves in crypto markets in context. Subscribe to get it in your inbox every day.
Bitcoin (BTC) was lower at around $19,200, as traders in traditional markets prepared for a big interest-rate hike by the Federal Reserve.
The U.S. central bank’s two-day, closed-door meeting is set to start Tuesday and culminate Wednesday with a statement at 2 p.m. ET (18:00 UTC). For much of this year, bitcoin, the largest cryptocurrency, has traded in sync with U.S. stocks, which have come under pressure from the Fed’s efforts to tighten monetary policy in the face of soaring consumer prices.
In traditional markets, European equity indexes fell and U.S....
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