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Crypto majors stuck in tight range as altcoin rotation picks up steam
Key takeaways
- The lack of volatility has led to little pockets of the altcoin market benefitting from the speculative nature of crypto investors.
- Conversely, privacy coins DASH, ZEC and XMR experienced a wave of sell pressure on Friday, eroding much of their early week rally, indicating that sector rotation is in full effect.
- Brent crude oil dropped to $102 per barrel on Friday, down from $112 seen earlier this week as speculation swirls around a potential peace deal between Iran and the U.S.
The lack of volatility has led to little pockets of the altcoin market benefitting from the speculative nature of crypto investors. The AI sector was the recipient of such speculation on Friday as NEAR increased by 28.5% while FET posted an 11.4% gain in the past 24 hours.
Conversely, privacy coins DASH, ZEC and XMR experienced a wave of sell pressure on Friday, eroding much of their early week rally, indicating that sector rotation is in full effect.
Brent crude oil dropped to $102 per barrel on Friday, down from $112 seen earlier this week as speculation swirls around a potential peace deal between Iran and the U.S.
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