Why Chainlink, Avalanche, and Mara Holdings Jumped (and Then Dropped) This Week
The crypto market was volatile this week as investors tried to make sense of the current economic environment and risk tolerance of the market. Tariffs were announced for the auto industry, which a few weeks ago may have crushed the market, but overall the news was met with a bit of a shrug. There were some big movers in crypto, though.According to data provided by S&P Global Market Intelligence, Mara Holdings (NASDAQ: MARA) jumped as much as 8% and was up 6.9% for the week in early trading on Friday. Chainlink (CRYPTO: LINK) was up as much as 12.9% while Avalanche (CRYPTO: AVAX) rose 19.2% at its peak. The two cryptocurrencies are up 2% and 7.9% respectively, as I write this, compared to last Friday's stock market close.Mara announced it has hired PwC as its auditor. This isn't necessarily the biggest news, but after a material weakness in the company's financials was found in 2023, this could bring some more calm to the market.Continue reading
The crypto market was volatile this week as investors tried to make sense of the current economic environment and risk tolerance of the market. Tariffs were announced for the auto industry, which a few weeks ago may have crushed the market, but overall the news was met with a bit of a shrug. There were some big movers in crypto, though.
According to data provided by S&P Global Market Intelligence, Mara Holdings (NASDAQ: MARA) jumped as much as 8% and was up 6.9% for the week in early trading on Friday. Chainlink (CRYPTO: LINK) was up as much as 12.9% while Avalanche (CRYPTO: AVAX) rose 19.2% at its peak. The two cryptocurrencies are up 2% and 7.9% respectively, as I write this, compared to last Friday's stock market close.
Mara announced it has hired PwC as its auditor. This isn't necessarily the biggest news, but after a material weakness in the company's financials was found in 2023, this could bring some more calm to the market.
