The stock market is up after Silicon Valley Bank (a subsidiary of SVB Financial Group) depositors were saved from potential losses, and that bullishness has spilled over to cryptocurrencies. Values started to jump on Sunday afternoon and spiked even more on Monday in a wild reversal of weekend losses. 

Altcoins are up across the board, but there were some notable moves leading the market. BNB (CRYPTO: BNB) jumped as much as 10% in the last 12 hours as of 3 p.m. ET, Cardano (CRYPTO: ADA) jumped 10.4% in the same period, and Filecoin (CRYPTO: FIL) moved 23.8% higher. 

The one move directly related to market news is BNB, which is up after Binance said it would convert $1 billion of a recovery fund to Bitcoin, Ethereum, and BNB. It's notable that it's buying BNB because that's Binance's token. In a sense, Binance is using some of the funds to help its own token, which in turn helps the company look stronger. 

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Source Fool.com