Why Cryptocurrencies Are Up Again This Weekend
Momentum continues to build in cryptocurrencies as investors look to alternatives to the traditional banking industry. Regulators and other banks may seem to be making the case for crypto if a few merger rumors come true.
Most of the gains this week were led by the top cryptocurrencies, but now the second tier are jumping as well. At 10:00 ET, Ethereum (CRYPTO: ETH) is up 4.7% in the last 24 hours, Ethereum Classic (CRYPTO: ETC) is up 12.7%, Lido DAO (CRYPTO: LDO) has risen 11.8%, and Solana (CRYPTO: SOL) is up 7.9%.
The general theme is the same as it's been all week. The collapse of two banks last weekend has caused investors and traders to reconsider how safe deposits are in banks and look for alternatives like cryptocurrencies. One of the cases against crypto has been that banks acted as an onramp and regulators have been shutting down banks with crypto ties or not allowing others to expand crypto offerings.
Source Fool.com
