Coinbase and Circle Stock Climb Before Critical FOMC Meeting

Shares of Coinbase and Circle are seeing gains today despite uncertainty surrounding the Federal Reserve meeting scheduled for July 28 and 29. Traders are keeping a close eye on the event, as there is currently a 33 percent chance that the Fed might increase interest rates by 25 basis points.

These positive movements in crypto stocks mirror a broader rally in the Nasdaq 100 futures, which are up 1.69 percent. It appears that easing geopolitical tensions are currently outweighing concerns about a more aggressive stance from the central bank.

Market participants are waiting to see how the Fed addresses inflation and interest rates during the meeting. Whether the central bank chooses to hike rates or hold steady will likely set the tone for tech and crypto related assets in the coming weeks.