Crypto Daily Report – December 16

body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightDecember 16, 2021The global crypto market has surged nearly 7% over the past 24 hours after risk assets rallied following the hawkish pivot at yesterday's Fed meeting. Bitcoin and Ethereum are trading 4% and 11% higher, respectively, while other major smart contract platforms, including Solana, Polkadot, Avalanche, Terra, and Algorand, are all up over 10% at the time of writing. The Fed announced an expedited tapering, increasing its monthly reduction in asset purchases from $15 billion to $30 billion, which will bring monetary stimulus to an end starting in March. While many feared a "taper tantrum" from BTC and other cryptoassets, it was apparent that the market already priced in the hawkish pivot from Fed Chairman Jerome Powell as Bitcoin increased from its daily low to nearly $50k on the release of the Fed's report. Avalanche (AVAX) is one of the few smart contract platforms that has registered a gain on the weekly chart. Its token has benefitted from a couple of positive developments. The first development was T