Smaller coins led gains among cryptocurrencies Thursday on the back of investor optimism that central banks in the US and Europe will finally ease their aggressive interest-rate hiking.
Altcoins, including Ether and Cardano, are climbing north of 2% as of 12:47 p.m. in New York Thursday, while Bitcoin pared back its strong advance. Still, the largest token by market value rose as much as 2.4% Thursday before moderating its gains to trade at $23,786. A gauge of the top 100 coins is up 37% so far in 2023.
Investors are “moving out the risk spectrum towards more speculative plays ...
