Why Bitcoin Cash, Kaspa, and Stacks Surged Higher Today
Sentiment in the cryptocurrency world appears to be cooling this afternoon, after a rather hot morning of trading, in which most major tokens saw impressive rises. As of 3:15 p.m. ET, Bitcoin Cash (CRYPTO: BCH) and Kaspa (CRYPTO: KAS) remain two of the biggest winners, surging 6.7% and 12.8%, respectively, over the past 24 hours. Over the same time frame, Stacks (CRYPTO: STX) is also up 1.6%, but was up more than 8% at its intraday high.
Interestingly, these three altcoins have continued to move in relatively high correlation to other risk assets, such as the high-growth technology stocks represented in the Nasdaq Composite. This morning's earlier surge has seen some selling pressure this afternoon, with investors of all stripes appearing to be taking a breather (and maybe some profits) after this year's very hot start.
Of course, the macro picture will likely continue to determine directional intraday moves, and investors will want to pay close attention to such drivers. However, these three tokens also have their own unique catalysts worth diving into. So, let's do just that.
Source Fool.com
