During the U.S. trading session on Wednesday, the cryptocurrency market witnessed a sudden uptick following the Fed interest rates hike by 50 BPS. This led to Bitcoin prices surging above $60000, subsequently igniting renewed recovery momentum in the altcoin market.
A notable beneficiary of this trend was the layer-1 cryptocurrency SUI, which recorded a 7% increase in price, reaching $1.25. This surge is being bolstered by SUI’s recent partnership with MoviePass and integration with USDC.
