Home
News
- Altcoins are on the Rise in growing Crypto Markets
- Rally in altcoins has reduced the dominance of Bitcoin
Five crypto assets are in a rising mode and have surged by 144% over one week as the digital asset market continues to strengthen.
Function X (FX)-Blockchain featuring traditional financial products
The top one that is the best performing altcoins this week is Function X (FX). It currently commands a market cap of $314 million. Function X aims to feature traditional financial products on its platform while building decentralized financial products and a decentralized trading system.
As revealed by data from CoinGecko, the crypto asset based upon the Ethereum platform has surged by 402%, from a 7-day low of $0.44 to a high of $2.12. The altcoin has retraced since and is now trading at $0.78.
Vector space AI (VXV) Blockchain platform devoted to Artificial Intelligence
The following altcoins in the list are Vectorspace AI (VXV). It is a Blockchain platform focused on powering advanced approaches to machine learning (ML) and artificial intelligence (AI). The crypto-token had commenced from a one-week low of $3.47 to it’s all-time high of $10.94, representing a price jump of over 215%.
Bitcoin Cash ABC (BCHA) is a veritable means of payment.
Another cryptocurrency that has seen a significant surge is the Bitcoin Cash ABC (BCHA), which boasts $5.84 billion. The Blockchain is more of a means of payment and surged from a low of $114.51 to a high of $345.96 in just seven days, marking a 202% increase. Though today the BCHA surged by three times, it is still 20% down compared to its all-time high of $378.12.
Fantom (FTM)-Powering Smart Towns
The next happening altcoins are the Fantom (FTM), a network of custom blockchains. It aims to power intelligent towns. It has surged by a decent 144% from a low of $0.47 to $1.16 within seven days. At the time of writing, FTM is trading at $1.04.
ELF- business-oriented blockchain platform
Decentralized cloud computing network and business-oriented blockchain platform ELF is making huge gains. In a week, ELF surged from a low of $0.36 to a high of $0.88 to mark an increase of 144%.
The coin has given up some of its gains and is trading at $0.68 at writing.
The surging altcoins have somewhat reduced the domination of BTC. BTC market capitalization now accounts for 45 percent of the total crypto market cap. Indicators point out that the volume and money flow into most of the premium altcoins has surged up. Smaller altcoins have tremendous growth potential, and this is fueling the investments in altcoins.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
