Grayscale: Fed Rate Hike Will Have Limited Impact on Crypto Markets

Grayscale has assessed this week's Federal Reserve rate hike as a mid-cycle adjustment rather than a cyclical shift. The firm stated that similar rate increases occurred in 1997 without significant impact on asset markets, suggesting the current move will have limited effect on cryptocurrency markets. Grayscale highlighted Circle and Tether, stablecoin issuers with high interest income from their holdings, as entities whose profits may rise alongside increasing rates.