Grayscale said that the interest rate increase of the Federal Reserve is an adjustment in the cycle, and the impact of encryption market is limited

Grayscale said that the interest rate increase by the Federal Reserve is a cyclical adjustment and has limited impact on the crypto market. The Federal Open Market Committee of the Federal Reserve has raised its target interest rate range by 25 basis points to 3.75% to 4%. Grayscale believes that the impact of interest rate hikes varies depending on the business model, and stablecoin issuers can benefit from interest income from reserve assets. The higher yields of tokenized bonds and money market funds attract capital inflows into on chain financial products. On September 17th, Bitcoin rose above $77000, and the liquidation amount of short positions in the cryptocurrency market was $260 million. (Source: Bitcoin.com News)