ImmutableX Announces Web3 Passport and Blackrock Increases Stake in Silvergate
Feb 1, 2023
Crypto and traditional markets consolidated ahead of today’s FOMC meeting at 2 pm EST. The market is currently pricing in a 98.7% chance of a 25 bps rate hike according to CME Group’s Fed Watch tool. BTC and ETH are down 0.57% and 0.70%, respectively, and SPX and NDQ are down 0.57% and 0.32%. Despite the broader market consolidating, certain altcoins have continued to rally. ATOM -8.51% is up 6.55% and INJ in up 2.10%. Injective (INJ) and Cosmos (ATOM) strong performance comes after the announcement of a $150M Injective Ecosystem Fund, which will support apps developed to work across blockchains based on the Cosmos ecosystem.