The crypto markets saw another red day yesterday, marking two consecutive days of decline following the US Federal Reserve’s announcement of its final rate cut of the year. This downtrend can be attributed to the Fed scaling back its target of four rate cuts next year to only two, accompanied by hawkish commentary. While the S&P 500 remains in positive territory, riskier assets like BTC and ETH have taken a significant hit. SOL has also dropped below $200, erasing all of its post-election gains.
Meanwhile, Aptos Labs’ co-founder, Mo Shaikh, has announced his resignation as CEO. Avery Ching will step into the CEO role following Shaikh’s departure. Despite this leadership change, the price of APT has remained relatively stable, declining by just 2%, even as other coins face sharper losses.
