Why Altcoins Like Toncoin and Bitcoin Cash Were Soaring Today
Did we witness the start of a new cryptocurrency rally on Monday? It's very possible. After all, the prices of more than a few coins and tokens across a wide variety of use cases zoomed notably higher, following a general softening in the preceding week.
Among the many altcoins making investors richer Monday were Toncoin (CRYPTO: TON), with an impressive gain of nearly 27% from its level at 4 p.m. ET the previous Friday, and Bitcoin Cash (CRYPTO: BCH), with a 21% improvement. A new partnership, meanwhile, juiced the prices of Immutable X (CRYPTO: IMX) and OKB (CRYPTO:OKB), both of which rose by about 14%.
Much of this derived from the path blazed by the original cryptocurrency, and the asset that remains the industry's near-indisputable leader, Bitcoin (CRYPTO: BTC). The coin had a rocky price trajectory last week due in no small part to outflows from spot Bitcoin exchange-traded funds (ETFs).
Source Fool.com
