LINK - Why Altcoins Like Polkadot and Chainlink Looked Unstoppable This Week
2024-02-16 08:42:56 ET
The air was thin and the views increasingly spectacular for many rising altcoins this week. The cryptoverse as a whole has seen a great deal of interest recently from investors previously on the fence. That's combining favorably with a seemingly green-lights-far-ahead economy and interest rates that might stay elevated longer than expected. Oh, and the estimates-crushing quarter just posted by a top crypto exchange operator.
Plenty of coins and tokens were marching higher across these past few trading days. Popular utility coin Polkadot (CRYPTO: DOT) was up by more than 9% week to date as of early Friday morning, according to data compiled by S&P Global Market Intelligence . The same source indicated that Chainlink (CRYPTO: LINK) and Avalanche (CRYPTO: AVAX) had both risen by around 10%, while Lido Staked Ether advanced by 14%.
The Polkadots and Chainlinks of this world are, to a significant degree, marching happily behind the Pied Piper of cryptocurrency, Bitcoin . The one digital currency asset many investors own has really been on a tear lately, rising by over 35% in only three weeks to smash through $50,000 per coin.
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Why Altcoins Like Polkadot and Chainlink Looked Unstoppable This Week