Here’s Why Altcoins Popped and What Dropped This Week

The crypto market had its first down week in a while as massive inflows into Bitcoin exchange-traded funds (ETFs) turned into outflows this week. The market has been driven simply by the flow of funds rather than fundaments, but that’s where we are in this market, especially with altcoins.

According to data provided by S&P Global Market Intelligence, Aptos (CRYPTO: APT) jumped as much as 20.9% this week and is at its peak at 3:30 p.m. ET, while Stacks (CRYPTO: STX) gained 31.4% at its peak and is now up 20.7%.

But there were losers with Optimism (CRYPTO: OP) down as much as 13% and Polkadot (CRYPTO: DOT) falling 20.1%. The two cryptocurrencies are now down 10.8% and 18.8%, respectively.

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About the Author: Daniel