Janet Yellen, U.S. Treasury Secretary, commented on the state of U.S. consumer spending and trade negotiations with Asia on April 27, which reflects on the cryptocurrency market.
Progress in Trade Negotiations with Asia
Janet Yellen emphasized the robustness of consumer spending in the U.S. and the positive developments in trade relations with Asian countries. These remarks were made during an engagement on April 27.
Stablecoin Growth Amid Economic Activity
Amid favorable economic news, the crypto market experienced substantial inflows of nearly $9 billion. The market's growth was also reflected in Tether's (USDT) new capitalization record of $147.1 billion.
Dynamics of the Cryptocurrency Market
According to CoinMarketCap, Bitcoin's price is $94,094.64 with a market capitalization exceeding $1.86 trillion. The asset displayed a 0.10% change in the last 24 hours and an 11.35% rise over the week, highlighting dynamic market shifts.
Janet Yellen's address underscores important economic trends that impact the cryptocurrency market. The activation of consumer spending and trade efforts with Asia create positive connections for investors.
