Will Altcoins Rally Further? 10-Year Treasury Yield Drop Explained
- Altcoins soared to $1.03 trillion valuation with UNI, ALGO, LTC, XRP, and VIRTUAL skyrocketing.
- The Treasury Department announced a 15bps drop in the 10-Year Treasury Yield.
- A drop in 10-Year Yield makes speculative assets like altcoins very lucrative for investors.
Altcoins have rallied over the past 24 hours, even as Bitcoin (BTC) struggled to hold onto the $100,000 price level. BTC briefly reached $100,000 but then fell below this key resistance zone. Meanwhile, many altcoins saw double-digit gains. Some of the top performers were XRP, Litecoin (LTC), Uniswap (UNI), Algorand (ALGO), and Virtuals Protocol (VIRTUAL).
According to CoinMarketCap data, XRP gained 8.74% in the past 24 hours. LTC jumped 16.18%, UNI rose 6.09%, and ALGO climbed 11.35%. VIRTUAL led the altcoin sector with a massive 28.67% gain. Ethereum, on the other hand, saw a more modest increase of 3.4%.
Related: Top Altcoin Picks for Q1: Accumulate Now or Risk Getting Left Behind
Why Are Altcoins Rallying?
One reason for the altcoin rally could be the recent drop in the 10-year treasury yield. The yield fell 15 basis points (bps), which suggests that investors expect slower economic …
The post Will Altcoins Rally Further? 10-Year Treasury Yield Drop Explained appeared first on Coin Edition.
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Will Altcoins Rally Further? 10-Year Treasury Yield Drop Explained
- Altcoins soared to $1.03 trillion valuation with UNI, ALGO, LTC, XRP, and VIRTUAL skyrocketing.
- The Treasury Department announced a 15bps drop in the 10-Year Treasury Yield.
- A drop in 10-Year Yield makes speculative assets like altcoins very lucrative for investors.
Altcoins have rallied over the past 24 hours, even as Bitcoin (BTC) struggled to hold onto the $100,000 price level. BTC briefly reached $100,000 but then fell below this key resistance zone. Meanwhile, many altcoins saw double-digit gains. Some of the top performers were XRP, Litecoin (LTC), Uniswap (UNI), Algorand (ALGO), and Virtuals Protocol (VIRTUAL).
According to CoinMarketCap data, XRP gained 8.74% in the past 24 hours. LTC jumped 16.18%, UNI rose 6.09%, and ALGO climbed 11.35%. VIRTUAL led the altcoin sector with a massive 28.67% gain. Ethereum, on the other hand, saw a more modest increase of 3.4%.
Related: Top Altcoin Picks for Q1: Accumulate Now or Risk Getting Left Behind
Why Are Altcoins Rallying?
One reason for the altcoin rally could be the recent drop in the 10-year treasury yield. The yield fell 15 basis points (bps), which suggests that investors expect slower economic …
The post Will Altcoins Rally Further? 10-Year Treasury Yield Drop Explained appeared first on Coin Edition.
Read More