Uniswap's UNI token surges while rest of crypto market looks to FOMC for guidance

Bitcoin BTC $ 64,882.76 is facing selling pressure ahead of today's Federal Open Market Committee (FOMC) interest-rate decision at the first meeting under new Fed Chair Kevin Warsh.

The largest cryptocurrency pulled back below $65,000 after trading near $67,000 just a day earlier, CoinDesk data show. The broader market CoinDesk 20 Index (CD200) has lost 1.2% since midnight UTC, with all but four tokens declining.

“The main focus for the week is the FOMC meeting under new leadership, with market expectations of interest rate hikes already priced in through 2027,” Laser Digital said in its weekly note.

The market is pricing in no change in the fed funds rate at this meeting. Instead, the focus will be on Warsh’s post-meeting press conference for signals on his views on inflation. Warsh has criticized the Fed's frequent press conferences and detailed forecasting and may face questions on his stance.

Among stand-out gainers, Uniswap’s UNI token surged another 20% over 24 hours, buoyed by Standard Chartered’s bullish forecast of $100 by 2030. Meanwhile, NEAR, INJ and several stablecoin-related assets dropped as much as 8%.

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

Disclosure & Polices : CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies . CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.

新闻图片