Why Solana, Cardano, and XRP Are Surging Higher Today
Risk assets are soaring today, ahead of what's expected to be a busy couple of weeks on the macro front. Next week, investors will receive updated CPI numbers that could influence how aggressive the Federal Reserve will be during its Sept. 20-21 meeting. Today, the market appears to be taking the view that inflation pressures will ease, lending to more accommodative monetary policy moving forward. For cryptocurrencies and equities alike, these hopes are bolstering asset prices across the board.
However, three top-10 tokens that many crypto investors are watching today are Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), and XRP (CRYPTO: XRP). As of 1 p.m. ET, these digital currencies have surged 4.7%, 4.9%, and 4.2%, respectively, over the past 24 hours. In addition to macro tailwinds, each of the tokens has their own catalysts investors are watching.
Solana's network recently passed a key psychological threshold of 95 million transactions, with numbers quickly approaching 100 million. As a gauge of adoption, the transaction data are very bullish for those who believe Solana can continue to gain market share in the DeFi world.
Source Fool.com
