These Altcoins just made 100% + Gains in a Week! Is an Altcoin Season Incoming? – Coinpedia – Fintech & Cryptocurreny News Media
Bitcoin, the flagship cryptocurrency has been shedding gains if not trading sideways. But some Altcoins following the lead of Ethereum have fared well recently. While Ethereum has rallied 12.52% in the last week, Bitcoin has slumped 0.35%.
Four Altcoins, AXS, KCS, ALPHA, and PERP in just a week have surged 100% or more.
AXS is a blockchain-based game that allows players to collect, breed, raise battles, and trade collectible digital creatures.
According to CoinMarketCap, AXS has risen from a seven-day low of $5.20 to a new all-time high of $13.59 in the last week, a gain of nearly 161 %.
KuCoin’s native currency, KCS has risen from a seven-day low of $6.86 to a high of $14.47 in just one week, signifying a gain of nearly 110 percent.
Alpha Finance (ALPHA)
Alpha Finance is a cross-chain decentralized finance platform. The token ALPHA, From a seven-day low of $0.41 to $0.88, the altcoin has gained almost 114%.
Perpetual Protocol( PERP)
It is a decentralized platform that offers perpetual contracts (a derivative without expiry date) for every asset. The token PERP In the last seven days has risen 112% from a low of $5.59 to a high of $11.86.
Is an Altcoin Season Underway?
Not just these 4 Altcoins, many other tokens are also hinting at a bullish momentum. The Defi protocols recently are flashing an uptrend with some prominent coins printing great gains.
After soaring about 58.93% in the previous seven days, the SNX price has risen more than 26%. Other tokens, such as AAVE (15.21 percent), SUSHI (13.4 percent), COMP (12.57 percent), and RUNE (11.03%), followed a similar pattern.
Popular analyst and trader Micheal Van De Poppe in a recent tweet talked about the resurgence of altcoins. He mentions, after falling to the dumps due to Bitcoin’s crash below $30K. Altcoins now can be expected to outperform Bitcoin in the coming days.
He also tweeted saying, Altcoin season starts only when nobody is interested in altcoins.