Why Binance Coin, Litecoin, and Zcash Are Seeing Double-Digit Surges Today
Ahead of today's highly anticipated release of the minutes from the last Federal Open Market Committee (FOMC) meeting, investors in a range of risk assets are seeing notable surges. In the cryptocurrency space, this is certainly true, with many top tokens seeing double-digit gains in today's session.
Among the notable gainers this morning are Binance Coin (CRYPTO: BNB), Litecoin (CRYPTO: LTC), and Zcash (CRYPTO: ZEC). As of 9:30 a.m. ET, these three tokens had surged 11.7%, 12%, and 11.9%, respectively, over the past 24 hours.
Investors appear to be holding out hope for some explicit signs that a cooling of interest rate hikes could be on the horizon. The outsize moves among mega-cap tokens such as Binance Coin and Litecoin appear to be directly tied to this sentiment today. Litecoin has also been on a nice tear in recent days, surging on increased activity among crypto whales, as well as on news that the network has surpassed the key milestone of 135 million transactions.
Source Fool.com
