Cryptocurrencies gain on expectations of US rate cut

Cryptocurrencies

Most cryptocurrency prices rose during Wednesday's trading, amid expectations of a US interest rate cut during this month's policy meeting.

Bitcoin rose 0.15% to $110,808.65 at 10:12 AM Mecca time, accounting for approximately 57.8% of the total cryptocurrency market value.

While Ethereum, the second-largest cryptocurrency in terms of market capitalization, rose 0.7% to $4,303.46, Ripple fell 0.95% to $2.8172.

The global cryptocurrency market capitalization stands at $3.81 trillion, with total trading volume over the past 24 hours reaching $172 billion, according to CoinMarketCap data.

Dutch Bitcoin reserve manager Treasury, backed by the American billionaires Winklevoss twins, announced plans to list on the Amsterdam Stock Exchange via a reverse listing in partnership with Dutch investment firm MKP Niedsense, according to Reuters.

According to data from El Salvador's Bitcoin Office, the country has purchased an additional 31 cryptocurrencies over the past 30 days, bringing its total holdings to 6,288.18 Bitcoin, worth over $697 million.