VET - Why Altcoins Were Struggling to Tread Water on Monday
2024-04-15 18:46:16 ET
Is the recent cryptocurrency rout over yet? Probably not, but after booking losses toward the end of last week that were significant at times, the landscape looked a little better for altcoins.
On Monday, quite a few were posting comparatively modest losses, with some even inching cautiously into positive territory. In late afternoon trading, Chainlink (CRYPTO: LINK) was down only marginally, while The Sandbox 's (CRYPTO: SAND) price was moving sideways. On the gainer side, VeChain (CRYPTO: VET) was up by 3.5%, and Litecoin (CRYPTO: LTC) posted a 0.5% gain.
Major geopolitical developments usually impact the financial markets to some degree, and cryptocurrency is no exception to this. After a scare that the ever-volatile Middle East dynamic would worsen with Iran's attack on Israel, as of late afternoon Monday, the situation seemed to be cooling off encouragingly.
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Why Altcoins Were Struggling to Tread Water on Monday