Bitcoin (BTC) rose to intraday highs of $23,451 on February 8. The lead crypto asset reacted positively to the latest comments from the United States Federal Reserve, which also sent equities higher.
Fed Chair Jerome Powell again mentioned “disinflation” during his Tuesday speech. Later in the conversation, Powell warned that the Fed might be obliged to hike rates more aggressively, which would have briefly spooked investors.
At the time of writing, the crypto market is down 1% in the last 24 hours. Bitcoin is down 1.53% at $22,860. Several other cryptocurrencies have also recorded losses in the last 24 hours. Fantom is down 7.15%, while the Graph protocol is down 21% since the past day.
Christopher Waller, the governor of the Federal Reserve, warned that the fight against inflation is not done and that higher interest rates may result than what the markets are anticipating on Wednesday.
As a result, he asserted that the Fed must continue with its current course of action, which has involved eight interest rate increases since March 2022.
According to CME Group data, markets presently anticipate that the Fed will approve 2 additional rate rises, one quarter-point each during the meetings in March and May.
They then anticipate a quarter-point reduction by year’s end as the economy sputters and may even enter a recession.
Waller used the words “for some time” often to indicate that he anticipates tight monetary policy continuing, but he did not elaborate on his prediction of where rates will go.
Dell (DELL), a maker of computers, has joined the Hedera Governing Council to create decentralized apps to support its clients’ blockchain- and Web3-related endeavors.
The announcement caused the HBAR token of Hedera to increase. Since then, it has retraced, and in the past 24 hours, it has slightly declined.
To assist enterprises in exploring distributed ledger technologies, the Hedera Governing Council announced that Dell Technologies is the newest corporation to join the Council (DLT).
Dell will obtain first-hand knowledge of the possibilities offered by the evolving technology by operating its own Hedera node and creating apps on the Hedera network as a participating member of the Hedera Council and network.
Google, IBM, Deutsche Telekom, and up to 39 more corporations make up the Hedera Governing Council, which governs the Hedera network.
Dell’s association with blockchain and crypto goes back nearly a decade. In 2014, it started accepting bitcoin as a means of payment in partnership with Coinbase. Joining the Hedera council would appear to be its first public blockchain-related move for some time, however.
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