Why Altcoins Were Thrashing the Market on Thursday

In a somewhat atypical development in the cryptosphere, on Thursday a clutch of coins and tokens surged in price while the leading one sagged on the day.Among the many seeing notable improvements in price were Chainlink (CRYPTO: LINK), with a rise of almost 21% from 4 p.m. ET. Less propulsive but still popular that day, both Aptos (CRYPTO: APT) and Sui (CRYPTO: SUI) were rising in excess of 6%. Cardano (CRYPTO: ADA) was trailing only slightly behind at a gain of slightly more than 4%.The reason this is atypical is that altcoins tend to more or less move in concert with said leader, Bitcoin (CRYPTO: BTC). Yet Bitcoin had rather an up-and-down Thursday, sinking below the vaunted $100,000 level in the morning (although it subsequently recovered as the day wore on). In contrast, many altcoins enjoyed a sustained rise. More than a few investors, it seems, continue to believe there's more upside with other coins and tokens. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool