RUNE, TON, NOT, and TIA Skyrocket as US Inflation Slows, Raising Hopes of Rate Cuts

Cryptocurrencies and U.S. stocks continued rising on Wednesday, Aug. 14 after the release of July's inflation report. THORChain (RUNE) was the top gainer of the day as it jumped by 12%.

Cryptocurrencies and U.S. stocks continued to rally on Wednesday, Aug. 14, following the release of July’s inflation report.

THORChain (RUNE) was the top gainer among the top 100 cryptocurrencies by market capitalization, surging over 12%. It was followed by Toncoin (TON), Notcoin (NOT), and Celestia (TIA), which gained over 10%.

Toncoin’s token price rose to $7.27, reaching its highest level since July 20 and marking a 51% increase from its lowest point this month. Meanwhile, Notcoin, a popular tap-to-earn token, rose to $0.0128, and Celestia’s token increased to $6.60.

Other major coins, including Bitcoin (BTC), Ethereum (ETH), and Cardano (ADA), were also trading in the green.

According to the Bureau of Labor Statistics, the headline Consumer Price Index (CPI) slowed to 2.9%, while the core CPI decreased from 3.3% in June to 3.2% in July. However, both figures rose slightly by 0.2% on a month-over-month basis.

The U.S. CPI data arrived a day after the statistics agency reported weaker-than-expected producer price index numbers, leading to a strong rebound in American equities. The Dow Jones and Nasdaq 100 indices rose by over 400 points, and the U.S. dollar index slipped.

These numbers suggest that the Federal Reserve will likely begin cutting rates at its September meeting.

In a Bloomberg interview, David Rubenstein, the billionaire founder of Carlyle, predicted that the Fed would cut by 0.25% rather than 0.50%, considering the upcoming U.S. election.

Cryptocurrencies like Celestia, Notcoin, and Toncoin could benefit from rate cuts, as they tend to push investors toward riskier assets. This dynamic helped most coins rally during the Covid pandemic.

Toncoin and Notcoin also rallied after the TON Blockchain, backed by Telegram, launched a new $40 million fund to support networks in the ecosystem.

The developers hope these funds will attract new developers and those migrating from other blockchains, such as Ethereum and Solana. This ecosystem fund arrives as the Toncoin ecosystem expands, supported by games and tap-to-earn platforms like Hamster Kombat and TapSwap.

Additionally, the TON Blockchain has almost $600 million locked in its DeFi ecosystem, with STON.fi, DeDust, and Tonstakers being the largest protocols on the platform.

Ecosystem funds are becoming increasingly common in the blockchain industry. In June, the Manta Foundation launched its $50 million fund. Other chains with similar funds include Base, Avalanche, and Sui.

Celestia’s rally was primarily driven by investors buying the dip, as there was no specific news regarding the network.

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