Altcoin Accumulation On the Rise after Unexpected Crash

PANews reported on October 26th that Crypto.news reported that CryptoSlam data showed that NFT market transaction volume plummeted 39.93% to $94.91 million over the past week. The number of NFT buyers increased by 33.14% to 509,798, while the number of sellers rose by 21.04% to 413,225. The number of NFT transactions decreased by 7.63% to 1,543,392. Ethereum network transaction volume reached $36.75 million, down 62.46% from the previous week. Bitcoin network transaction volume reached $13.07 million, up 15.57%. Base network transaction volume reached $9.24 million, down 34.8%. This week's high-value transactions include: Known Origin #264609 sold for $246,984.31 (63.8 ETH) CryptoPunks #7839 sold for $174,846.97 (44.99 ETH) CryptoPunks #7378 sold for $173,119.61 (45 ETH) CryptoPunks #7461 sold for $167,646.53 (42 ETH)

The post Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC appeared on BitcoinEthereumNews.com. Franklin Templeton CEO Jenny Johnson has weighed in on whether the Federal Reserve should make a 25 basis points (bps) Fed rate cut or 50 bps cut. This comes ahead of the Fed decision today at today’s FOMC meeting, with the market pricing in a 25 bps cut. Bitcoin and the broader crypto market are currently trading flat ahead of the rate cut decision. Franklin Templeton CEO Weighs In On Potential FOMC Decision In a CNBC interview, Jenny Johnson said that she expects the Fed to make a 25 bps cut today instead of a 50 bps cut. She acknowledged the jobs data, which suggested that the labor market is weakening. However, she noted that this data is backward-looking, indicating that it doesn’t show the current state of the economy. She alluded to the wage growth, which she remarked is an indication of a robust labor market. She added that retail sales are up and that consumers are still spending, despite inflation being sticky at 3%, which makes a case for why the FOMC should opt against a 50-basis-point Fed rate cut. In line with this, the Franklin Templeton CEO said that she would go with a 25 bps rate cut if she were Jerome Powell. She remarked that the Fed still has the October and December FOMC meetings to make further cuts if the incoming data warrants it. Johnson also asserted that the data show a robust economy. However, she noted that there can’t be an argument for no Fed rate cut since Powell already signaled at Jackson Hole that they were likely to lower interest rates at this meeting due to concerns over a weakening labor market. Notably, her comment comes as experts argue for both sides on why the Fed should make a 25 bps cut or…

PANews reported on October 26th that according to Cointelegraph, Johnson Asiama, Governor of the Bank of Ghana, stated at an International Monetary Fund (IMF) meeting that Ghana will be able to develop strong cryptocurrency regulations by the end of the year. "The bill is being submitted to Parliament. Hopefully, by the end of December, we will be able to regulate cryptocurrencies in Ghana." The Bank of Ghana first released draft legislation in August 2024. Among these guidelines, the central bank proposed an eight-pillar framework, which included increased registration and reporting requirements for exchanges and virtual asset service providers (VASPs). The new law aims to address growing interest in cryptocurrencies among Ghanaian investors. Approximately 3 million Ghanaians, nearly 9% of the population, use cryptocurrencies.