Why Chainlink, Cardano, and The Sandbox Are Sinking
Three of the most-watched crypto projects, Chainlink (CRYPTO: LINK), Cardano (CRYPTO: ADA), and The Sandbox (CRYPTO: SAND), are each underperforming the market today. While cryptocurrencies overall have appreciated 0.4% over the past 24 hours, as of 11 a.m. ET these three tokens have dropped 2.5%, 3.7%, and 3.1%, respectively, over the same time frame.
Chainlink has been a poor performer of late, now down approximately 16% over the past week. As an oracle network driving interoperability solutions, Chainlink serves an important function. However, investors appear to be targeting specific projects, rather than those viewed as the "plumbing" of the crypto sector, today.
On the other hand, Cardano surged massively over this past week, amid an announcement that the Cardano Forest project successfully planted its millionth tree. However, today's price action suggests profit-taking is in order for investors, as this token appreciates into a top-five position in terms of market capitalization.
Source Fool.com