Why Solana, Avalanche, and Algorand Are Climbing
Top altcoins are making strong recoveries after getting hit hard earlier in the week. Solana (CRYPTO: SOL), Avalanche (CRYPTO: AVAX), and Algorand (CRYPTO: ALGO) were up roughly 2.4%, 8.7%, and 9.2%, respectively, on Thursday as of 6 p.m. EDT.
Concerns that China Evergrande will default on its debt sent shockwaves through both equity and cryptocurrency markets on Monday. The real estate giant has more than $300 billion in debt, and investors reacted to fears that a default would have far-reaching effects that could disrupt stablecoins including Tether and ultimately the broader crypto space. However, it looks like those fears may be dissipating.
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Source Fool.com
