Why THORChain, ApeCoin, and Terra Are Rising Today

Several altcoins and stablecoins rose today as the broader cryptocurrency market climbed along with the broader stock market.

Over the last 24 hours, the price of THORChain (CRYPTO: RUNE) had jumped roughly 18% as of 1:05 p.m. ET today, the price of ApeCoin (CRYPTO: APE) was up roughly 15%, and the price of Terra (CRYPTO: LUNA) had climbed about 10%.

Stocks rose as investors mulled upcoming monetary decisions by the Federal Reserve, which include raising its benchmark overnight lending rate, the federal funds rate, multiple times this year and likely starting to reduce its massive balance sheet. Other broader factors include surging inflation and Russia's ongoing invasion of Ukraine.

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Source Fool.com