Why ApeCoin, STEPN, Theta Network, and Dogecoin Jumped Big Today
The cryptocurrency market was on fire Monday morning, and the value of some meme coins and tokens related to NFT projects were on a tear.
The Bored Ape Yacht Club-related ApeCoin (CRYPTO: APE) was up 23.5% in the last 24 hours as of 11:00 a.m. ET, the STEPN token was up 26%, Theta Network (CRYPTO: THETA) jumped 9.2% and Dogecoin (CRYPTO: DOGE) was up 5.6%. This follows a week of terrible performance for cryptocurrency generally and specifically altcoins and small tokens.
Over the weekend, there was concern that the collapse of the Celsius Network and Three Arrows Capital would lead to contagion, or a cascading number of failures, in the crypto market. Values dropped across the board and there were even some major liquidations. But there doesn't seem to have been a worst-case scenario and buyers once again outweighed sellers starting on Sunday afternoon.
Source Fool.com
