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Gorilix (SILVA), Polygon (MATIC) and Uniswap (UNI) each saw their prices rise strongly on Wednesday, July 27. Analysts credit the uptick to the US Federal Reserve’s decision to raise interest rates 75 basis points. The good news is not entirely unmixed, however.
On its face, the latest interest rate hike is a boon to buy-and-hold crypto investors, who stand to benefit as the world’s largest central bank continues its policy of quantitative tightening in response to continued inflationary pressure on the US dollar. As dollars issued by the Fed become more expensive to borrow, cryptocurrencies have an opportunity to emerge as increasingly attractive investments.
But not all cryptocurrencies are poised to respond positively to the Fed’s rate hike. Established tokens like Bitcoin (BTC) saw a jump in price on the news that the rate increase was imminent, but failed to sustain that momentum after the decision was formally announced. The industry’s most widely held coins may be too exposed to the negative economic factors affecting the dollar’s value to present themselves as compelling alternatives. Several growing players in the crypto market, however, have continued to rally on Wednesday’s announcement.
Gorilix has emerged as a particularly interesting alternative to the often-overhyped first wave of DeFi platforms, though the second round of its presale is still ongoing. Its roadmap is predicated on helping investors borrow and lend prudently and with an eye to value, and its liquidity-based reward scheme offers the same incentive to save that the Fed has moved to prop up. SILVA has leapt more than 15% in the last 24 hours, far outclassing the post-rate-hike gains sustained by BTC and other established tokens.
SILVA is building toward a September 6 launch on Uniswap, whose native governance token continued to surge upward on Thursday when other coils cooled. From a Wednesday low below $6.80, UNI rose to nearly $8.50 by day’s end. On Thursday, it shot up again to reach above $9.30. While Uniswap is an established and respected crypto force, its role in launching newer, more resilient coins may have shielded it considerably from the negative aspects of the Fed’s Wednesday announcement while leaving it free to seize opportunities as they develop.
Polygon’s market capitalization of nearly $5 billion might have put it in similar company to BTC and other major tokens that failed to sustain their initial midweek surges. But Polygon’s focus on dApp development and hosting give it a different value proposition than Bitcoin, Ethereum, and other general-use tokens, and the market has taken notice. The price of MATIC rose from $0.80 to $0.86 on Wednesday the 27th, and followed that strong performance by marching up to $0.96 by midday Thursday.
When the Fed makes a bold move, the results are rarely single-sided. Gorilix, Uniswap, and Polygon, though, are especially well-poised to take advantage of today’s developments and future efforts by the Fed to curb inflation.
To buy your SILVA tokens or learn more about Gorilix DEFI, visit https://gorilix.io.
To register for the Gorilix (SILVA) presale: https://cabinet.gorilix.io/sign-up
To join Gorilix on Telegram, Twitter & Instagram: https://linktr.ee/Gorilix
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