{"id":347304,"date":"2022-09-22T00:03:13","date_gmt":"2022-09-22T04:03:13","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=347304"},"modified":"2022-09-22T00:03:13","modified_gmt":"2022-09-22T04:03:13","slug":"steller-xlm-slips-3-5-federal-reserve-hikes-another-75bp","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/steller-xlm-slips-3-5-federal-reserve-hikes-another-75bp","title":{"rendered":"Steller (XLM) Slips 3.5% – Federal Reserve Hikes Another 75bp"},"content":{"rendered":"

On Thursday morning, the crypto markets were volatile, with some cryptocurrencies surging higher while others dropped. In contrast to recent tendencies, crypto values are not currently amplifying the market’s move higher or lower. That being said, the Stellar (XLM)<\/a> coin has dropped, losing 7% before gaining support near the $0.109 level.<\/p>\n

Investors are witnessing a massive outflow from the cryptocurrency market, which is currently taking place. Inflation and other macroeconomic variables may be the most damaging to cryptocurrencies in the coming months.<\/p>\n

While the United States Fed’s hawkish policy and interest rate hikes are putting additional downward pressure on Steller.<\/p>\n

  Buy Steller Now<\/span><\/a><\/span><\/p>\n

 <\/span>Your capital is at risk<\/span><\/p>\n

Steller (XLM) – Things You Need to Know<\/h2>\n

Steller (XLM) was launched in 2014, and soon, it gained popularity as one of the popular cryptocurrencies. It is also used in a variety of financial transactions. It has begun to collaborate with Moneygram and Flutterwave, as well as major institutions like the New York State Finance Department and IBM.<\/p>\n

However, the price increases in Stellar were primarily due to its security and speed. Steller charges small gas fees for transactions, one of the key factors influencing Steller prices. It has become a popular low-cost crypto transaction medium among cryptocurrency traders.<\/p>\n

In contrast, the crypto market sell-off has had a negative impact on Steller prices. The broad-based US dollar bullish bias was another key factor limiting any further gains in Steller prices.<\/p>\n

Hawkish FOMC & Fed Fund Rate<\/h2>\n

The rate increase by the Federal Reserve of 75 basis points was in line with market forecasts. Despite leaving the door wide open for a fourth successive 75bp rise in November, the Fed reiterated that activity has to slow considerably more due to inflation being far stickier than expected.<\/p>\n

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Chair Powell answers reporters' questions at the FOMC press conference on September 21, 2022. https:\/\/t.co\/siWde1Rh9D<\/a> pic.twitter.com\/EVJM6TW8Ce<\/a><\/p>\n

— Federal Reserve (@federalreserve) September 21, 2022<\/a><\/p><\/blockquote>\n