Why Ethereum, Dogecoin, and Cardano Are Moving Higher on Jan. 4, 2023
Several popular cryptocurrencies rose this morning, as investors wait for the release of the latest meeting minutes from the Federal Reserve.
Since late afternoon yesterday, the price of the world's second-largest cryptocurrency, Ethereum (CRYPTO: ETH), traded about 3.3% higher as of 11:11 a.m. ET today. The price of the meme token Dogecoin (CRYPTO: DOGE) traded about 2.8% higher, and shares of Cardano (CRYPTO: ADA) were up 6.5%.
Investors are still trying to find direction in the early days of 2023, with still quite a bit of debate going on about how the economy will fare this year and how much the Federal Reserve will continue to raise its benchmark overnight lending rate, the federal funds rate.
Source Fool.com
