Why Cryptocurrencies Avalanche and Fantom Jumped While Shiba Inu Dropped Today
Monday was another good day for altcoins generally as the crypto market traded higher. Congress may have given the industry some more validity late last week, and investors are pouring more money into tokens.
Avalanche (CRYPTO: AVAX) was up by as much as 12% in trading early Monday and topped out at about $99. Some of those gains faded -- the tokens were selling for $90.22 at 3:20 p.m. EST -- but that's still well higher than $73 level that Avalanche was trading at on Saturday. Fantom (CRYPTO: FTM) was another big gainer, rising 8.7% in the last 24 hours and 18% since early Saturday.
Shiba Inu (CRYPTO: SHIB) was the outlier, falling 3.9% in the last 24 hours and 18% in the past week. This token has been volatile since reaching its all-time high, and it may be searching for a use case in the crypto space.
Source Fool.com
