Why Altcoins Withered Over the Weekend
This past weekend, it seemed investors were taking a break not only from work, but from investing in the crypto market. A wide range of coins and tokens traded down over the period, not least because a key worry in the minds of many crypto investors isn't being relieved.Across the weekend, it wasn't hard to find cryptocurrencies that were stumbling. Cardano (CRYPTO: ADA) lost nearly 4% of its value, while frequently popular meme coin Shiba Inu (CRYPTO: SHIB) wasn't a very good dog, with a more than 2% decline. It didn't seem investors were finding utility coin Litecoin (CRYPTO: LTC) to be overly useful, as it fell by almost 2%.While cryptocurrency is its own unique and offbeat asset class, at the end of the day, it's an investment like anything else. That means it's subject to the broad investor sentiment that blankets all investible products (and even more so, as cryptos are volatile relative to many stocks and other securities).Continue reading
This past weekend, it seemed investors were taking a break not only from work, but from investing in the crypto market. A wide range of coins and tokens traded down over the period, not least because a key worry in the minds of many crypto investors isn't being relieved.
Across the weekend, it wasn't hard to find cryptocurrencies that were stumbling. Cardano (CRYPTO: ADA) lost nearly 4% of its value, while frequently popular meme coin Shiba Inu (CRYPTO: SHIB) wasn't a very good dog, with a more than 2% decline. It didn't seem investors were finding utility coin Litecoin (CRYPTO: LTC) to be overly useful, as it fell by almost 2%.
While cryptocurrency is its own unique and offbeat asset class, at the end of the day, it's an investment like anything else. That means it's subject to the broad investor sentiment that blankets all investible products (and even more so, as cryptos are volatile relative to many stocks and other securities).
