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# Altcoins Take Off, Driven by Pepe, Algorand, Stellar, and Uniswap
Before the Federal Open Market Committee (FOMC) revealed its choice on interest rates, Bitcoin and a group of altcoins experienced a slight increase on Wednesday.
Bitcoin (BTC) increased to $84,500, but it is having difficulty surpassing that mental hurdle of $85,000.
Other crypto stars that sparkled brightly include Pepe (PEPE), Algorand (ALGO), Stellar (XLM), and Uniswap (UNI). Stellar increased by 10% to $0.293, while Uniswap jumped 12% to $6.90. Both Pepe and Algorand saw increases of over 9%, pushing the total crypto market capitalization to a fantastic $2.79 trillion.
This crypto rebound reflects the increases in the U.S. stock exchange. Major indices like the S\&P 500, Nasdaq 100, and Dow Jones all increased by more than 0.50%, while the U.S. dollar index declined slightly.
## Altcoins Increase Before FOMC Choice
This increase comes as market observers expect a change in strategy from the Federal Reserve following their Wednesday meeting. The buzz is that Fed officials are concerned that Donald Trump’s policies might push the U.S. into an economic downturn by harming business investments and cutting consumer spending. A closely observed report from the Federal Reserve Bank of Atlanta forecasts the economy will decrease by 1.8% in the first quarter. If the Fed adopts a more relaxed approach, it could provide a boost to both altcoins and the stock exchange. As one analyst mentioned to Bloomberg:
> “The common expectation is that the central bank will halt its interest rate increases. Simultaneously, reassuring forecasts from Powell about economic stability could help alleviate some concerns.”
## SEC vs. Ripple Lawsuit
Altcoins like Pepe, Algorand, Stellar, and Uniswap also got a boost after the SEC concluded its lengthy legal fight with Ripple Labs. This is a significant matter, as this legal fight has been continuing for approximately five years.
The SEC has withdrawn its complaints against Uniswap, Coinbase, Kraken, Gemini, and OpenSea, possibly indicating a change in the regulatory environment for crypto in the United States.
There is increasing expectation that the SEC may authorize the spot crypto ETF applications that were recently submitted. Major financial actors are preparing to introduce funds that monitor XRP, Polkadot, Litecoin, Aptos, and Sui. ETF approval may unleash a deluge of Wall Street capital into the cryptocurrency market. Solana Futures ETF Debuts, Value Climbs: We’re Demolishing Obstacles
The possibility of a more cryptocurrency-supportive attitude from the SEC under the Trump administration represents a significant departure from the previous position under Gary Gensler, who was well-known for adopting a tough stance through legal action.
