Shares of several popular altcoins, including Floki Inu FLOKI/USD, are trading higher again Tuesday in sympathy with apex cryptocurrency Bitcoin BTC/USD and second-largest market cap crypto Ethereum ETH/USD.
Bitcoin is trading around a 1-month high Tuesday afternoon at around $23,380, representing a notable rebound of 13.6% over the past month.
Cryptocurrencies have also been seen by some investors as a speculative hedge against inflation and the Fed's plans to curb inflation could weigh on the broader cryptocurrency sector.
According to data from Benzinga Pro, Floki Inu is trading higher Tuesday by 35.67% to $0.000009244.
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