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Benzinga
Benzinga
Business
Melanie Schaffer

Ethereum Classic Forms This Key Pattern As Crypto Sector Awaits FOMC

ETC

Ethereum Classic (CRYPTO: ETC) was trading flat on Tuesday, in line with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), which were muted as the cryptocurrency market appeared to await the release of the Federal Reserve’s monthly minutes on Wednesday at 2:00 p.m.

The central bank is widely expected to raise the interest rate by 25 basis points, in an effort to combat soaring inflation, but if the fed decides to hike rates higher or leave the interest rate at zero, the crypto sector and general markets could react wildly.

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