LINK - Why Cardano Chainlink and Polkadot Surged Higher Today

2023-03-29 15:47:38 ET

The cryptocurrency market is once again providing plenty for investors to get excited about today. The overall market has surged more than 2% higher in today's session. However, a number of top tokens, including Cardano (CRYPTO: ADA) , Chainlink (CRYPTO: LINK) and Polkadot (CRYPTO: DOT) , have seen market-beating moves. As of 3 p.m. ET, these three tokens have appreciated 7.1%, 6.1%, and 2.8%, respectively, over the past 24 hours.

A significant portion of today's moves in these tokens appears to be tied to speculation that central banks may be looking at easing monetary policy. Amid a series of bank runs (many of which had ties to the crypto sector), the desire for regulators to continue to pull liquidity out of the system may be waning.

Additionally, there are some token-specific catalysts driving these three projects higher today. Cardano and its founder Charles Hoskinson are seeing strong investor support, following their support of a letter highlighting problems within the regulatory crackdown on crypto by U.S. regulators. Chainlink has seen growing interest from so-called whales (large crypto investors). And Polkadot is seeing continued interest from investors seeking interoperable blockchains that may be able to thrive in a world where certain blockchains may be taken down by regulators.

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