Why Utility Cryptos Were Triumphant This Week
In the cryptocurrency world, to use a tired old saying, a rising tide frequently lifts all boats. That has certainly felt like the dynamic this week, as an eager investing public has kept the late 2024 crypto rally alive. This upswing is deep and broad, and one of its beneficiaries is the utility coin and token segment.
It wasn't hard to find rising investments in that group. According to data compiled by S&P Global Market Intelligence, Polkadot (CRYPTO: DOT) was a big winner with a 22% gain week to date as of Friday before market open. Close behind were the increases of Bitcoin Cash (CRYPTO: BCH), Uniswap (CRYPTO: UNI), and Chainlink (CRYPTO: LINK), which clocked rises of 15%, 11%, and 12%, respectively.
This big wave of crypto enthusiasm has been with us since the presidential election. This galvanized the world's growing ranks of crypto-heads, as President-elect Donald Trump has both indicated support for the industry and has even been involved recently in a crypto project, World Liberty Financial.
Source Fool.com
