#SOLTreasuryFundraising The prices of most cryptocurrencies rose during trading on Wednesday, amid rising expectations of a cut in U.S. interest rates by the Federal Reserve during its upcoming meeting scheduled for September 16 and 17.
The global market capitalization of cryptocurrencies reached $3.87 trillion, while the total trading volume over the last 24 hours was $178.72 billion.
Despite today's gains, cryptocurrencies have not compensated for the significant losses incurred in the past few days.
Cryptocurrencies had recorded strong gains last week, following the remarks of "Jerome Powell," the head of the U.S. Federal Reserve, at the "Jackson Hole" conference.
"Powell" opened the door for a possible interest rate cut at the next meeting, which helped calm the markets, improve investor sentiment, and increase their appetite for high-risk assets.
During today's trading, Bitcoin rose by 0.2% to be traded at the level of $111,217.76.
Bitcoin accounted for about 57.3% of the total value of the cryptocurrency market.
