ADA, SHIB, XRP and Bitcoin suddenly spike as traders buy the dip $ADA $SHIB $XRP BTC $BTC Altcoins Crypto
released on Thursday revealed that inflation slowed more than anticipated in October, which is welcome news for the Federal Reserve after months of making only sporadic headway in bringing inflation down.
The"core" inflation index slowed from 6.6% in the previous reading to 6.3% annually. Fed Chair Jerome Powell also hinted at a modest rate hike by the central bank in 2011. At the time of publication, several altcoins were posting mild increases alongside the sudden gain in Bitcoin's price. Cardano was up 4.5% at $0.37. With a market capitalization of $12.75 billion, Cardano presently ranks as the eighth largest cryptocurrency, flipping the meme cryptocurrency to ninth place.
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