Hottest crypto coins are now the Bitcoin and Ether alternatives

Cardano has doubled this month, becoming the third-largest digital asset. Binance Coin is also up. A token named Avalanche has tripled in August. Meanwhile, prices for digital photos of rocks with laser eyes and cartoon depictions of cute animals are going gangbusters, sometimes quadrupling in a matter of days.

Assia calls it a “generational buying moment” and cites a confluence of events, including rock-bottom interest rates worldwide, as well as massive fiscal stimulus efforts that delivered checks to many people during the pandemic. The space is dominated by younger generations, he said, and all they know is a Federal Reserve that’s been almost-perpetually accomodative. Take that, alongside a gridlocked government, and it’s no surprise many have gravitated toward the crypto space, he said.

“There’s generally been pretty positive crypto sentiment recently: NFTs have helped lead the revival, and the crash from May is further in the rearview mirror,” said Sam Bankman-Fried, chief executive officer of crypto exchange FTX.

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