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BTC, ADA, LUNA, VET, XTZ by Cointelegraph

Top 5 Cryptocurrencies to Watch This Week: BTC, ADA, LUNA, VET, XTZ

On August 27, US Federal Reserve Chairman Jerome Powell said the central bank will begin reducing its monthly bond purchases by $ 120 billion by the end of the year, but the interest rate hikes would have to wait until the labor market and inflation pass a stricter test.

In response to the speech, the (DXY) fell, the S&P 500 Index rose to a new all-time high, and (BTC) went up about $ 1,500 in less than an hour. This showed that market participants viewed the speech as “moderate.”

Daily view of crypto market data. Source: Coin360