Axie Infinity co-founder says ETH is most sensitive to Federal Reserve interest rates

According to HashKey News, after Federal Reserve Chairman Powell made dovish comments and the market speculated that interest rates might be lowered in September, the cryptocurrency market surged on Saturday, with market sentiment returning to 'greed'. Axie Infinity co-founder Jeffrey 'Jiho' Zirlin pointed out that ETH is the most sensitive cryptocurrency to interest rates, as the yield differential between depositing stablecoins in DeFi and depositing dollars in banks will widen as rates decrease. However, St. Louis Fed President James Bullard stated that more time is needed to decide whether to support a rate cut, but some cryptocurrency market participants expect that if Powell hints at a rate cut, the cryptocurrency market could rise further.