Why Altcoins and Crypto Stocks Were Flying High Today
It wasn't very long ago that market players spoke despairingly of a "crypto winter," with digital coin and token prices trading sideways at best and slumping at worst. Well, that cold season seems like a distant memory now; on Monday, yet again, many cryptocurrencies and related assets ticked higher again.
Altcoins were doing particularly well on the first trading day of the week. Bitcoin SV (CRYPTO: BSV) and Avalanche (CRYPTO: AVAX) were both up by around 9% from 4 p.m. ET on Friday. Crypto miners came along for the ride, although their gains weren't as lofty. Riot Platforms (NASDAQ: RIOT) closed Monday nearly 1% higher in price, while TeraWulf (NASDAQ: WULF) saw an almost 2% increase.
There was little in the way of solid, price-moving news for many of those altcoins and miners. One slight exception is Riot Platforms, which won a vote of confidence when veteran financial services company Bernstein initiated coverage on its stock with an outperform (buy, in other words) recommendation.
Source Fool.com
