Blockchain is well known as the technology behind Bitcoin and other major cryptocurrencies and digital assets. It is a form of ledger technology that stores records in a decentralized manner, making it difficult or impossible to alter. The technology has gained attention due to the security it provides. And companies opening in the blockchain space thrived over the past several years.
Unfortunately, the stock and crypto markets have been under significant pressure since the beginning of the year, leading to sell-offs in blockchain stocks. The Fed’s several interest rate hikes this year have not had much effect in curbing the rising inflation. With inflation still near multi-decade high levels, the Fed is expected to announce further aggressive interest rate hikes to curb inflation.
