Why Top Proof-of-Stake Tokens Solana, Cardano, and Polkadot Are Plunging Today

Today, top proof-of-stake cryptocurrencies Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), and Polkadot (CRYPTO: DOT) have all seen incredible downside pressure. These top tokens were down 7.4%, 8.3%, and 3.8%, respectively, over the past 24 hours as of 9:45 a.m. ET. 

What's notable is that leading proof-of-work blockchain Ethereum (CRYPTO: ETH) has seen smaller declines over the same time. This token had lost approximately 1%, still outperforming the overall market, which dropped nearly 3% at the time.

It appears investors are continuing their flight to safety in the crypto world, choosing megacap tokens such as Ethereum over higher-growth altcoin competitors such as Solana, Cardano, and Polkadot. 

Continue reading

Source Fool.com