According to CoinMeta, Grayscale research indicates that despite a 25-basis-point interest rate hike, the crypto market has continued to rise. They view this as a medium-term adjustment rather than a cyclical shift and expect it to have little impact on the crypto market. A similar interest rate hike in 1997 also produced the same outcome. It is worth noting that stablecoin issuers can achieve higher returns when interest rates rise.