BTC - Why Many Altcoins Were Sliding on Friday
2024-03-15 19:10:09 ET
On the crypto market, there are a host of coins and tokens that anchor practical blockchains allowing users to conduct activities like drawing loans or playing online games. In contrast to other crypto types, these projects have won attention and investment due to their real-world applications.
This didn't do much for them on Friday, however. A general pullback in cryptocurrencies generally drained a bit of value from a host of these assets. Utility cryptos Stacks (CRYPTO: STX) , Litecoin (CRYPTO: LTC) , and Cronos (CRYPTO: CRO) were all down by around 4% as of late afternoon trading that day. Game token Gala (CRYPTO: GALA) joined in with a similar fall, while finance token Injective (CRYPTO: INJ) was down by nearly 10%.
The one coin that's always in the lead -- and the one that immediately comes to mind when most human beings hear the word "cryptocurrency" -- is the most heavily capitalized one, Bitcoin (CRYPTO: BTC) . Bitcoin's vast and growing popularity make it the pace-setter by far in this asset class.
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Why Many Altcoins Were Sliding on Friday