Top Crypto Performers Today – Floki, Immutable, Flare
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
As major cryptocurrency prices consolidate ahead of Friday’s key speech from Fed Chair Jerome Powell, traders are turning to top crypto performers today in the altcoin market as they hunt for upside volatility.
Bitcoin (BTC) was down around 1% in the past 24 hours near $60,500, CoinMarketCap data showed.
Ethereum (ETH), BNB (BNB), Solana (SOL) and XRP (XRP), meanwhile, were mostly flat over the same time period.
Fed Chair Jerome Powell is expected to signal an incoming series of interest rate cuts over the coming year on Friday, with the first rate cut to come next month.
What's at Stake in Jackson Hole with the Fed and Jerome Powell. @steveliesman joins us ahead of the Fed meeting tomorrow. pic.twitter.com/gOnZkP3TmQ
That will be the first time that the Fed has cut interest rates since they peaked at multi-decade highs above 5% in mid-2023.
And lower rates should mean an easing in global liquidity conditions. This has historically been very bullish for risk assets like crypto.
Ahead of Powell’s speech, it no surprise that traders have been pre-positioning.
Here are some top crypto performers today that they will be monitoring.
Leading meme coin Floki Inu (FLOKI) is up 8.5% in the past 24 hours to $0.00014, per CoinMarketCap.
That means it sits at the top of the pile of top crypto performers today.
FLOKI remains wedged in a downtrend from its June highs at $0.00035.
But it if can break above this downtrend, plus its 50 and 200DMAs, a swift rally could come.
The prospect of quick 2-3x gains could make FLOKI the best crypto to buy now.
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