ONE - Why Ethereum Polkadot and Harmony Are Soaring Higher This Weekend
This week has been a rather historic one, with the Russian invasion of Ukraine putting investors on edge. This invasion has impacts that span far beyond financial markets. However, looking at how cryptocurrencies reacted to this news, this asset class is clearly one that investors don't feel comfortable holding through times of high uncertainty.
That said, Ethereum (CRYPTO: ETH) and two layer-2 Ethereum scaling networks Polkadot (CRYPTO: DOT) and Harmony (CRYPTO: ONE) have made up most, if not all, of the ground lost this week on the invasion news. Investors seem to be pricing in the potential for talks between Russia and Ukraine to commence, which may signal an end to the fighting, and therefore an end to this market uncertainty. Accordingly, Ethereum and Polkadot have actually turned green over the past seven days, with Polkadot down less than 5% over this period. That's a remarkable comeback for these top tokens.
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Why Ethereum, Polkadot, and Harmony Are Soaring Higher This Weekend