NFT News by Thebittimes.Com

The CPI report was out on Thursday showing inflation at 8.2% in the U.S and is down 0.4% since last month. The markets magically turned green after the report as Bitcoin and Ethereum jumped more than 5% in the day’s trade. Leading crypto exchanges saw a dramatic spike in trading volume with triple-digits percentages in the last 24 hours. Decentralized exchanges also received millions worth of inflows into cryptos as investors are chasing the short-term pumps to salvage their losses. The markets have experienced a sudden spike and could remain in the green on Friday and early Saturday. Investors need to time the markets well to generate short-term profits. Also Read: 75% of Young Americans are Pro Crypto for Wealth Generation: Survey Top 3 Cryptos To Watch Out For After The Inflation Report 1. Bitcoin (BTC) Source: Unsplash Bitcoin jumped from $18,317 to $19,880 in less than 24 hours on Thursday after the CPI inflation data was out. BTC spiked $1,563 in a day generatin...

The crypto markets turned green after the CPI report on Thursday showed the inflation rate at 8.2% in the US. The markets saw a remarkable spike as Bitcoin and Ethereum jumped more than 5% and is currently up 3.8%. Data from CoinMarketCap shows that leading crypto exchanges saw a rise in trading volume recording a triple-digit percentage increase. In addition, decentralized exchanges (DEX) experienced a similar spike in trading volume with millions of inflows in 24 hours. Uniswap recorded $264 million in inflows, Kine Protocol $274 million and dYdX saw the highest with $770 million worth of transactions. Coming to global crypto exchanges, FTX trading volume spiked 180%, while Binance trading volume was up 133%. All the top five crypto exchanges recorded a trading volume spike in triple-digit percentages. Also Read: 75% of Young Americans are Pro Crypto for Wealth Generation: Survey Source: CoinMarketCap.com The development suggests that investors are chasing the short-...