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), a 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. 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 $4.10
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Featured Image: Shutterstock/solarseven/Natalia Siiatovskaia