Three emerging altcoin projects are skyrocketing as Bitcoin, Ethereum, and the entire crypto markets flash signs of strength.
Axie (AXS), the governance token for the blockchain-based game Axie Infinity, is soaring after recording a seven-day low of $58.93, according to CoinGecko.
AXS surged to a new all-time high of $120.91, marking a 105% rise in just one week.
The crypto asset has given up some of its gains since and is now trading at $112.85.
Another rising altcoin is WOO, the utility token of Woo Network’s centralized finance and decentralized finance products.
The crypto asset rose is up over 126% in seven days, from a low of $0.46 to a high of $1.04.
WOO’s rise in value coincides with Woo Network’s significant growth in terms of trading volume.
“All eyes were on the counter over at woo.org, which at its peak recorded a staggering $2.5 Billion 24-hour volume — smashing all previous records and doubling in less than 24 hours.
These impressive volumes were largely due to a liquidity partnership with dYdX Protocol, in which WOO Network’s parent company, Kronos Research, are key market makers on the platform, hedging through WOO Network and bringing in impressive volumes.”
After the surge, WOO is trading below its all-time high of $1.38.
The third surging altcoin this week is RARI, the native asset of the non-fungible token (NFT) marketplace Rarible.
CoinGecko shows that RARI surged from a seven-day low of $12.04 to a high of $19.15, representing an increase of 59% in one week.
Rarible is now the eighth-largest NFT marketplace by number of daily active traders, according to DappRadar.
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