The Daily: OG bitcoin whale’s 1,000 BTC move, XRP treasury firm’s 65% discount, Forward Industries’ $4B ATM for SOL, and more

The Bank of Canada lowered its overnight rate to 2.5% on Wednesday, responding to mounting economic damage from US tariffs and a slowdown in hiring. The quarter-point cut was the first since March and met predictions from markets and economists. Governor Tiff Macklem, speaking in Ottawa, said the decision was unanimous. “With a weaker economy […]

Network velocity across the ecosystem is accelerating, with cross‑chain capital inflows into its leading decentralized exchanges (DEXs) now surpassing those seen on several established Layer‑2 (L2) solutions. The trend highlights a shift in trader behavior toward ecosystems offering deeper liquidity, faster execution, and more efficient capital deployment.

The post Bitcoin Steady as Fed Delivers First Rate Cut in 9 Months appeared on BitcoinEthereumNews.com. The Federal Reserve announced today a cut in interest rates by 25 basis points, citing unsteady labor market conditions and increased inflation.  For the typical American, these rate cuts mean lower borrowing costs and may be a positive catalyst for the crypto market. However, the decision also carries intensified inflation risks and increased concerns over the Fed’s independence. Fed Cuts Rates for the First Time in 9 Months Bitcoin’s price held steady immediately after the US Federal Reserve cut interest rates by 25 basis points on Wednesday. Sponsored Sponsored The Federal Open Market Committee (FOMC) did what many economists and traders predicted: It cut the benchmark federal funds rate to a lower range of between 4.00% and 4.25%. This is the first rate cut in nine months, and follows a 25 basis-point cut in December 2024. 93% of Polymarket voters predicted a rate cut of 25 bps during today’s FOMC meeting. Source: Polymarket. “In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4 to 4-1/4 percent,” the Federal Reserve said in a statement. “Recent indicators suggest that growth of economic activity moderated in the first half of the year. Job gains have slowed, and the unemployment rate has edged up but remains low. Inflation has moved up and remains somewhat elevated.” Regarding the possibility of further rate cuts, it said: “In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.” The decision’s impact on Bitcoin may also positively affect the rest of the crypto market in the coming days.  A Positive Catalyst for Crypto? The crypto market was cautiously optimistic before the Fed…