Bitcoin

Three little-known altcoins are appreciating in value amid the general market downturn

Several tokens have been market leaders in the past 24 hours, most of which are DeFi Protocol Governance tokens. Some of them are cryptocurrencies as well as fairly liquid trading pairs, but with a small capitalization.

A phenomenon that is still poorly understood by analysts, but is very common in projects with strong communities, even if they do not have a significant market.

Of the three top-rated currencies this week, two are pegged to the sector that has drawn the most investor attention, DeFi, and one is a cryptocurrency that peaked during the 2017 rally and has only been among the since then Top 50 currencies is. most important in use.

Three little-known altcoins are appreciating in value amid the general market downturn
Three little-known altcoins are appreciating in value amid the general market downturn

However, in the past 24 hours through Thursday, these three currencies have delivered significant returns for their investors as we can see in the table below with data compiled by CryptoCompare.

Image: CryptoCompare

It is noticeable that the entire market for cryptocurrencies has been in the red for at least two days and Bitcoin has fallen by more than 5%. The difference was $ 1,200. A tough correction that brought the entire market with it.

What are the three survivors?

Loopring (LRC) – The LRC token rose 18.35% Thursday after announcing the integration of the tape protocol’s cross-chain oracles to provide pricing data for all crypto assets supported by the protocol.

Image: trade view

UMA (UMA) – UMA is an “open source infrastructure building project for priceless finance contracts for Ethereum” and its UMA token rose 17.84% to $ 22.8.

Image: Cryptocompare

NEM (XEM) – The NEM protocol’s XEM token gained nearly 7%, apparently new to an exchange and seizure of cryptocurrencies linked to hackers who stole more than $ 500 million worth of Coincheck XEM had. The price is also rising with the launch of SYMBOL, its platform for creating blockchains for businesses.

What stands out about these three steps is that the trio is low in volume and market cap. Together they only add up to a volume of 167 million US dollars. On Thursday, Biotron (BTRN), another unknown cryptocurrency, gained 133% and was only traded on two exchanges: Quoine and Liquid with a volume of just $ 1,900.

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