India, April 29 -- Cryptocurrencies are trading on a firm note ahead of the interest rate decision by the Federal Reserve, to be announced on Wednesday afternoon. The Fed is widely expected to keep rates steady. Interest rate decisions by Bank of England as well as the European Central Bank scheduled for Thursday are also expected to be status quo. Overall cryptocurrency market capitalization has increased more than half a percent in the past 24 hours.
The CME FedWatch tool that tracks the expectations of interest rate traders shows the likelihood of the Federal Reserve holding rates at 100 percent. Likewise, expectations of rates remaining at the current level of 3.50-3.75 percent remains high at 96.8 percent for the review scheduled for ...