Near Protocol, Solana, and Optimism Lead Cryptocurrencies Higher This Week
Cryptocurrencies had another phenomenal week this week, driven by a rising stock market and falling interest rates. It's an unwinding of a lot of the factors that drove crypto lower in 2022 and early 2023.
According to data provided by S&P Global Market Intelligence, Near Protocol (CRYPTO: NEAR) led the way by climbing 45.7% from Friday's market close, Stacks (CRYPTO: STX) was up 33%, Solana (CRYPTO: SOL) jumped 25.3%, and Optimism (CRYPTO: OP) is up 41.1%.
Macro trends have driven a lot of what we're seeing in crypto right now. Interest rates have fallen for nearly two months, as you can see below, and that has pushed investors into riskier assets. The stock market is up and high-growth stocks, which correlate with cryptocurrencies, are having a great end of the year.
Source Fool.com
