Published on 23 Dec 2023 on Motley Fool via Yahoo Finance
Why Altcoins Like BNB and Internet Computer Surged Higher This Week
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While it's dangerous to believe that any rally will continue indefinitely, investors were surely getting that impression with cryptocurrencies this week. So many notched double-digit percentage gains, it was almost as if anyone could put on a blindfold, point to a name, and grab a sharply appreciating asset.
A great many altcoins would have done the job. According to data compiled by S&P Global Market Intelligence, for example, BNB (CRYPTO: BNB) booked a weekly gain of 10%, while Hedera (CRYPTO: HBAR) edged past it with a 11% rise. Not to be outdone, VeChain (CRYPTO: VET) zoomed nearly 20% higher and Internet Computer (CRYPTO: ICP) defied gravity at an almost 30% clip.