The blockchain has seen a significant recovery over the last 24 hours after last weeks steep decline.
XRP rose 16%, AVAX rose 8%, and Bitcoin reached $21,000 in a sweeping recovery. Solana is also up 8% after their team announced they are developing a mobile phone. Polygon’s MATIC had a 17% increase.
Last weekend Bitcoin plunged to the $18,000 mark but has now recovered to around $21,000. We could see the asset surge to $22,600 very soon.
The recovery seen on Friday comes after U.S. Federal Reserve Chair Jerome Powell said the agency is committed to subduing inflation on Thursday. Powell also said the second half of 2022 should see economic growth.
“At the Fed, we understand the hardship high inflation is causing. We are strongly committed to bringing inflation back down, and we are moving expeditiously to do so,” he said. “We have both the tools we need and the resolve it will take to restore price stability on behalf of American families and businesses.”