фото показано с : invezz.com

Cryptocurrencies and stocks retreated after the Federal Reserve delivered its June interest rate decision on Wednesday. In the United States, the Dow Jones fell by 220 points while the Russell 2000 index fell by more than 1.17%. On the other hand, Bitcoin price dropped to $25,000 while Ethereum retreated to $1,647. 

The biggest economic news of the week was the decision by the Federal Reserve to pause interest rates on Wednesday. This was a major decision since the Fed has hiked interest rates in the past ten consecutive meetings in a bid to fight inflation. The bank decided to maintain its quantitative tightening policies.

The rate pause is a positive thing for risky assets like stocks and cryptocurrencies. However, the two assets dropped because the Fed statement was a bit hawkish. For example, the dot plot points to two more interest rate hikes later this year, meaning that the terminal rate will rise to 5.65%. 

The Fed decision came a day after the US published encouraging consumer inflation data. According to the Bureau of Labor Statistics, the headline inflation dropped to 4% in May, the lowest level since 2021. It has been dropping progressively after peaking at 9.3% during the pandemic.

Therefore, if this trend continues, it means that the Fed will not be under pressure to ramp up interest rates later this year. As such, there is a likelihood that cryptocurrencies and stock prices will continue rising in the next few months.

One of the top cryptocurrency news this week was about Chancer, a new blockchain project that started its token sale on June 13th. In the past two days, the presale has raised over $235,152 from investors. This means that they have raised about 24% of their $1 million target. As a result, there is a likelihood that the developers will reach their target in the next few week.

Each #CHANCER token is selling for 0.01 BUSD and the developers will hike the price to 0.011 BUSD in the next stage.

Chancer is a new company that seeks to disrupt the betting industry, which is now dominated by giant companies like DraftKings and Flutter Entertainment. Chancer is seeking to introduce an innovative project where people can bet on existing markets or even create their own.

There will be several features in this ecosystem. First, anyone in the platform will be able to create their betting markets. For example, you can create a market of a verified soccer game that is not in the most popular platforms. Winners will be paid using the $CHANCER token.

Second, the developers are hoping for full decentralization of the market. They hope to create a decentralized autonomous organization (DAO) that will make key decisions about the ecosystem. In a DAO, any token holder can vote on key issues in the ecosystem. Third, according to its white paper, the ecosystem will allow share2earn, staking, and discounts to users. 

Chancer is disrupting an extremely big industry. Studies believe that the online sports betting industry is worth over $92 billion. It is used by millions of participants from around the world. Therefore, there is a likelihood that the platform will capture some market share in the future.

Therefore, there is a possibility that Chancer’s token will do well when it gets listed in key exchanges in the next few months. With inflation falling and the Fed pausing its interest rates, there is a possibility that the token will do well. However, there is always a risk when investing in presales. As such, you should only invest money you can afford to lose. Find out how to buy Chancer here.

The post Crypto price prediction after the Fed rate pause: implication for Chancer appeared first on Invezz.

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