Five low-cap altcoins have doubled their value or more over the past seven days following weeks of bloodbath in the crypto markets.
One of this week’s biggest gainers is CEL, the native token of crypto lending platform Celsius Network.
After collapsing 99% from its all-time high, CEL rallied hard last week, erupting from a seven-day low of $0.52 to a high of $1.55, marking an increase of 198%.
CEL has retraced since and is currently trading for $0.79.
Another red-hot altcoin this week is Function X (FX), a decentralized ecosystem aiming to provide asset aggregation contracts, smart contract connections with Ethereum and on-ramp support for users. FX surged from a seven-day low of $0.14 to high of $0.34 for an increase of 142%.
FX is now worth $0.24, down nearly 15% in the last 24 hours.
Next up is Synthetix Network (SNX), a cryptocurrency that powers the trading of synthetic assets (synths) on the Synthetix platform. From a seven-day low of $1.52, the token skyrocketed to a high of $3.55, marking an increase of 133.55% in just one week.
SNX is currently valued at $2.69, down 6.30% in the past day.
Lending and borrowing platform Compound (COMP) is also on the list after the decentralized finance (DeFi) token doubled its value from a weekly low of $27.53 to a high of $55.17.
At time of writing, COMP is changing hands at $51.96, down over 25% in the last day.
The last coin is yearn.finance (YFI), a project that aims to power an automated yield-farming strategy to give users access to the best yields on their deposits of various altcoins, stablecoins and Ether.
YFI also managed to grow 100% in seven days after rallying from a low of 4,020 to the week’s peak at $8,074.
At time of writing, YFI is trading for $6,495, in the red for nearly 5% in the last 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/wacomka/Andy Chipus