$700m Jupiter Airdrop, XRP Co-founder Hacked

Jan 31, 2024
Market Update Crypto markets are mixed as $BTC climbs 0.4% higher to reach $43.6k, while the aggregate crypto market cap is lower. $ETH is underperforming, falling 1.3% to $2.3k. As we close the month, the top performers among the top 100 over the last 30 days have been new L1 $SUI (+95%), AI-focused network $TAO (+68.6%), and gaming token $RON (+21.4%). In the same period, $BTC has gained ~3% from its yearly open near ~$42k, currently reaching the midpoint between its initial local top of $48k the day of ETF launches and the $38.5k low that followed. U.S equities are falling today as investors await FOMC decisions and post-meeting statements, which will provide direction on whether the Fed will keep raising rates or signal a potential start of easing. For months, the consensus in the market has been that the Federal Reserve is unlikely to increase interest rates further. The key issue now is determining when the Fed might begin to reduce them. The last rate increase occurred in July 2023. Since then, inflation rates have gradually decreased and, according to one metric, are now close to falling below the Fed's 2% target.The $JUP token's value surged following a significant $700 million airdrop by Jupiter to Solana wallets, marking one of the largest airdrops on the Solana block

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