Crypto markets have bounced over the last week, and a slew of altcoins have quietly outperformed the rest with nearly 90% gains or more.
At time of writing, Bitcoin (BTC) is up 6.8% in the last seven days while Ethereum (ETH) is enjoying a 17% gain in the same timeframe.
Dwarfing the performance of the two largest crypto assets by market cap is CEL, the native token of bankrupt lending platform Celsius.
CEL rallied from a seven-day low of $1.74 to a high of $4.63. CEL’s 166% move comes as Celsius deals with bankruptcy proceedings on top of a lawsuit, a desist-and-refrain order as well as reports that payments firm Ripple is interested in buying up the company’s distressed assets.
Another surging altcoin as of late is Kujira (KUJI), decentralized finance protocol that targets retail investors. KUJI rallied after going from a seven-day low of $0.59 to a high of $1.23 for an increase of over 108%. At time of writing, KUJI is swapping hands for $1.19.
Also putting in big green rallies this week is Flux, a cross-chain oracle and decentralized cloud infrastructure. FLUX climbed from a weekly low of $0.59 to a high of $1.22 for gains of over 106% in just seven days. The altcoin has retraced since and sits at $1.06 at time of writing.
Joining the bullish moves is Energy Web Token (EWT), which may have caught a boost when BlackRock, the largest asset manager in the world, mentioned EWT in an announcement for its new spot Bitcoin investment trust.
“BlackRock is encouraged that organizations such as [non-profit Rocky Mountain Institution] and Energy Web are developing programs to bring greater transparency to sustainable energy usage in Bitcoin mining, and will follow progress around those initiatives.”
EWT, a utility token that aims to serve the energy sector, rallied from a seven-day low of $2.42 to a high of $4.56, a nearly 90% surge in a week. EWT has corrected after posting its weekly high and is valued at $4.10Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/solarseven/Natalia Siiatovskaia