As Bitcoin, Ethereum and general crypto markets show signs of strength; three emerging altcoin projects are rising rapidly.
According to CoinGecko, the management token of blockchain-based game Axie Infinity Axie (AXS)rallied after hitting a seven-day low of $58.93.
AXS surged 105 percent in just one week, hitting an all-time high of $120.91. The crypto asset has since given up some of its gains and is currently trading at $113.73.
The crypto-asset has since given up some of its gains and is currently trading at $111.85.
Another of the altcoins that have risen as a result of the trend change of the market; Woo NetworkWOO, the service token of central finance and decentralized financial products.
The cryptocurrency rose more than 126 percent in seven days, from $0.46 to $1.04. WOO’s increase in value is associated with significant growth in terms of Woo Network’s trading volume.
“All eyes were on the counter on woo.org, recording a staggering $2.5 billion in volume in 24 hours at its peak – breaking all previous records and doubling its volume in less than 24 hours. These impressive volumes are believed to be largely due to a liquidity partnership with the dYdX Protocol.”
Despite this huge increase, WOO is currently trading at $0.98, well below its all-time high of $1.38.
The third altcoin to rise impressively this week, the non-fungible token (NFT) market rarible‘s local asset, RARI.
CoinGecko data shows that RARI rose from a seven-day low of $12.04 to $1.54. This represents a more than 60 percent increase in RARI in one week.
Currently the eighth largest NFT market in terms of daily active traders, Rarible (RARI) remains strong at the time of writing, trading at $19.50, up 30 percent in the last 24 hours, according to DappRadar.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.