Why Algorand, Uniswap, and Monero Plunged Today
In times of market turmoil, investors look for relative winners and losers. Today, three top tokens have underperformed the dismal showing of the overall crypto market, which has dropped 5.7% over the past 24 hours as of 2:15 p.m. ET.
Over the same time frame, Uniswap (CRYPTO: UNI) traded 10.1% lower, Monero (CRYPTO: XMR) lost 7.5%, and Algorand (CRYPTO: ALGO) sank 7.2%.
The outsized moves among these top alt coins have been driven, interestingly, by concerns about the potential for rate hikes as soon as March. A faster-than-anticipated reduction of accommodative monetary policy has many investors concerned that high-risk, high-upside assets such as cryptocurrencies may fail to see the same kinds of capital inflows as in years prior.
Source Fool.com
