The US Producer Price Index (PPI) shows signs of cooling, fostering expectations for rate cuts. This sentiment shift was further buoyed by the SEC’s announcement of Project Crypto aimed at enhancing market regulation.
Over the last four days, the crypto market has shown an upward trend, with the Layer 2 sector at the forefront, demonstrating a gain of 6.64%. Bitcoin climbed 2.62%, surpassing 113,000 USD, while Ethereum rose by 1.50%, crossing 4,300 USD.
The Layer 2 tokens performed exceptionally, particularly Linea which saw a massive 392.60% increase. Other sectors also showed gains, including Meme at 2.87%, Layer 1 at 2.74%, DeFi at 2.23%, CeFi at 2.11%, and PayFi at 1.74%.
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