Ethereum Jumps 7% as Fed Keeps Rates Unchanged

Ethereum experienced a significant surge, jumping by 7% following the Federal Reserve's decision to maintain the current interest rate for the second consecutive meeting. This decision was aimed at balancing inflation control with economic stability, which also positively impacted Bitcoin's performance. The Federal Reserve's move to keep the interest rate unchanged was driven by increased economic uncertainty. Additionally, the Fed announced that it would slow the pace of its balance sheet runoff, which involves reducing its holdings of assets such as treasury bonds and mortgage-backed securities. By allowing fewer roll-offs, the Fed aims to prevent interest rates from rising too rapidly, thereby making loans cheaper and stimulating economic growth. According to the median forecast, there is an expectation of a 50 basis points (0.50%) reduction in interest rates by 2025. Ethereum's price surge to above $2,000 after breaking its resistance level indicates a recovery from its recent dip below $1,900. At the time of publication, Ethereum's price remained strong, hovering just above $2,000.

The positive news regarding the Federal Reserve's rate decision also fueled the growth of FloppyPepe (FPPE), an AI-driven meme coin. In the last 24 hours, its ongoing presale increased by $100,000, bringing the total to nearly $1.2 million. FloppyPepe's growth is attributed to the beta launch of its game-changing AI tool, Meme-o-Matic, which allows users to create top-notch memes using text or meme images. This tool empowers anyone with an idea to create viral memes, regardless of their experience. The DeFi approach of Meme-o-Matic enables users to monetize their creations, and popular artists are set to join the FloppyPepe ecosystem to design hand-drawn artworks for the community. FloppyPepe is pioneering a creative way to add excitement and innovation to the meme coin space. In a few weeks, FloppyPepe will release FloppyAI, an advanced AI bot with Web3 capabilities that uses natural language processing to understand user input and execute tasks. This AI bot is set to play a significant role in helping users navigate the FloppyPepe ecosystem, especially with its soon-to-be-launched video generation machine, FloppyX. Additionally, FloppyPepe plans to collaborate with the World Wide Fund for Nature to donate 1% of every transaction to support wildlife and endangered species. The smart contract of FloppyPepe has already been audited, and its deflationary structure burns 1% of every transaction to create scarcity and drive value, which has attracted the interest of institutional investors. With its solid AI offerings, excellent tokenomics, and community empowerment, FloppyPepe's presale has accrued close to $1.2 million within days. The positive sentiment in the market, coupled with FloppyPepe's innovative features, has boosted its performance, making it an attractive investment opportunity for savvy investors.