PANews, August 23 news, according to Cointelegraph reports, the cryptocurrency market rose on Saturday after U.S. Federal Reserve Chairman Jerome Powell's dovish remarks sparked speculation about a possible rate cut in September, returning market sentiment to 'greed.' Axie Infinity co-founder Jeffrey 'Jiho' Zirlin pointed out that ETH is the most sensitive cryptocurrency to interest rates, as the yield spread between depositing stablecoins in DeFi and depositing dollars in banks will widen as rates decrease. However, St. Louis Fed President Alberto M. Musalem stated that more time is needed to decide whether to support a rate cut, but some cryptocurrency market participants expect further gains in the cryptocurrency market if Powell hints at a rate cut.