In brief
- Solana, Dogecoin, and Cardano outperformed the broader crypto market on Wednesday.
- Despite Congress failing to pass a continuing resolution to avoid a government shutdown, crypto markets shrugged off concerns.
- Bitcoin surpassed $117,000 for the first time in about two weeks while anticipation builds for an expected 25-basis point Fed rate cut at October’s FOMC meeting.
Solana, Dogecoin, and Cardano all showed outsized gains relative to the rest of the crypto market recovery on Wednesday morning.
The broader crypto market capitalization has posted a 3.3% bump since this time Tuesday, according to price aggregator CoinGecko. But SOL increased by 6.3% to $220; DOGE climbed 7.7% to $0.245; and ADA has gained 6.6% to $0.84 at the time of writing.
The U.S. Congress did not get the votes it needed to approve a continuing resolution late Tuesday, which would have averted a government shutdown.
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Author: Stacy Elliott
