Axie Infinity co-founder: Ethereum is the cryptocurrency most sensitive to the Federal Reserve’s interest rate

Following dovish remarks from Jerome Powell on August 23rd, the cryptocurrency market showed signs of greed. Jeffrey Zirlin highlighted that Ethereum is especially vulnerable to potential interest rate shifts due to the growing yield gap between stablecoins and USD.

With St. Louis Fed’s Alberto Musallem suggesting that more deliberation is necessary before confirming a rate cut, many in the cryptocurrency space anticipate that any signals from Powell could lead to additional market gains.