A fter making small gains throughout the week, shares of Coinbase, one of the largest cryptocurrency exchanges, jumped by almost 7% on the heels of a significant rate cut by the F

U.S.-listed crypto shares jumped on Thursday after a half-percentage point interest rate cut boosted risk appetite, adding to the momentum of an industry that has already secured some big wins this year.

The global crypto market turned green after a long period of anticipation building around the expected Federal Reserve rate cuts. The cumulative crypto market cap gained by almost 3% over the last day to stand at $2.

The cryptocurrency market experienced a significant rally on Thursday, just one day after the Federal Reserve made the surprise move to cut interest rates by half a percentage point, marking the first such reduction in over four years.