SOL - Why Solana Cardano and Avalanche Are Surging Higher Today
Three of the top 10 cryptocurrencies by market capitalization, Solana (CRYPTO: SOL) , Cardano (CRYPTO: ADA) , and Avalanche (CRYPTO: AVAX) , are proof-of-stake smart contract-enabled networks many investors think of as " Ethereum killers." As of 1:20 p.m. ET today, these three tokens have appreciated 4%, 6.5%, and 7.5%, respectively, on a very positive day in the crypto world.
The key driver for these three tokens appears to be capital flows into Ethereum and its competing smart contract blockchain networks. Over the past week, Solana and Avalanche led all altcoins in capital flows, suggesting investors are looking for decentralized finance (DeFi) networks to buy on the dip during this recent market turmoil.
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Why Solana, Cardano, and Avalanche Are Surging Higher Today