SOL - Why XRP Solana and Cardano Were Up Big This Week
2023-03-24 15:38:00 ET
The crypto market continued its volatile ways this week, but this time the market broke in investors' favor. It was a crackdown from the U.S. Securities and Exchange Commission (SEC), bank troubles, and some legal rulings that pushed values higher.
According to data provided by S&P Global Market Intelligence , XRP (CRYPTO: XRP) was up 13.3% in the last seven days as of 10 a.m. ET, Solana (CRYPTO: SOL) had gained 6%, and Cardano (CRYPTO: ADA) was up 6.7%.
The banking crisis continues in the U.S., which is pushing investors to alternative assets like cryptocurrencies. What investors are worried about in general are the security of assets at banks compared to the self-custody of assets on the blockchain, as well as the potential devaluation of the U.S. dollar. Regulators have thus far backstopped deposits, but have yet to bail out banks as they did during the financial crisis.
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Why XRP, Solana, and Cardano Were Up Big This Week