Four altcoins built on Ethereum have made huge gains over the past seven days, while Bitcoin is trying to make up for its losses.
The first of these altcoins is a real-time live voting platform where users can create voting topics according to their preferences and other users can participate in voting, currently sitting in the fourth place of the list with a huge gain of 85%. Cratos ERC-20 token supporting mobile app CRTS.
Market participants responded positively to developments on Cratos last week, including the listing of CRTS on crypto exchange MEXC and the launch of a global version of the app, which was previously only available in Korea.
Another Ethereum-based altcoin Synapse (SYN) has increased by 89 percent in the last seven days. Synapse is a cross-chain protocol designed to enable interoperability between different blockchains. It consists of Synapse Network (SNP) and an automated market maker (AMM) for pricing and asset rebalancing.
Smart Contracter, a crypto analyst with a close eye on the crypto market, recently told his 198,000 followers that SYN looks phenomenal on the Wrapped Ethereum pair (SYN/WETH):
“When all the layers are competing with each other, it’s hard for me to accumulate something that binds them together. “pick-and-shovel” It sounds like a game of investment (an investment strategy in which investments are made in the core technology needed to produce a good or service rather than the final result).
The SYN chart looks great here against eth on a weekly basis, and the platform allows you to bridge from any chain to almost any chain.”
It is also a Proof-of-Stake blockchain and ecosystem where artificial intelligence projects, decentralized applications (dApps) or smart contracts can be created. Velas (VLX) shows strength.
VLX is up 73 percent over the past seven days and is trading at $0.37, about 33 percent below its all-time high of $0.55.
Another altcoin that creates even bigger waves is; a decentralized liquidity protocol that pegs a slip-based fee Automated Market Maker (AMM) with its native stablecoin USDV Vader Protocol (VADER).
VADER is currently trading at $0.09, up a whopping 150 percent over the past seven days.
While the above altcoins are making notable gains, Bitcoin is up 11% in the same time frame and is currently trading just under $52,000.