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Fortune

Marco Quiroz-Gutierrez

Altcoins Polygon, Avalanche, and Aptos surge as stock market rallies on Fed news

Polygon Avalanche Aptos Stock Market NFT Crypto Bitcoin CoinMarketCap

(Credit: Photo Illustration by Fortune)

A wave of investor optimism led several altcoins—the crypto term for tokens that are not Bitcoin or Ethereum—to post big gains on Thursday following a stock market rally driven in part by the Federal Reserve raising rates a quarter of a percent.

The cryptocurrencies associated with the Polygon, Avalanche, and Aptos blockchains spiked more than 10% as the S&P 500 and Nasdaq Composite were up on Thursday morning.

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