Major coins traded in the green on Tuesday evening, as the market capitalization after the U.S. Federal Reserve Chairman Jerome Powell reiterated that the “disinflationary process” has started in the economy.
What Happened: The largest cryptocurrency by market value Bitcoin BTC/USD was trading above $23,000. Ethereum ETH/USD was changing hands at $1,685, up 3.74% in the last 24 hours.
Dogecoin DOGE/USD was up 2.87 in the last 24 hours, pushing its price up to $0.092.
U.S. equities surged on Tuesday as the S&P 500 Index gained 1.3%, and the Nasdaq Composite Index rose 1.9%, ending a two-day losing streak.
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“The disinflationary process, the process of getting inflation down, has begun and it’s begun in the goods sector, which is about a quarter of our economy,” said Powell. “But it has a long way to go. These are the very early…