Four altcoins with market caps under $1 billion managed to surge exponentially in price within seven days while larger crypto assets finished off 2021 with modest price action.
Recording massive gains over the past week is Railgun (RAIL), an Ethereum-based project that aims to provide privacy for trading and lending on decentralized exchanges (DEXes).
RAIL surged from a seven-day low of $1.33 to an all-time high of $4.15 on December 31st for gains of 212%.
Joining the rallies is layer-2 scaling solution Metis. The Metis protocol aims to offer lower fees and faster transaction times than Ethereum, while still retaining the security of the leading smart contract platform. METIS exploded from a seven-day low of $85.33 to an all-time high of $265, representing gains of 211%.
Putting in an equally impressive performance over the last week is LIT. LIT is an ERC-20 token and a native crypto asset on cross-chain identity aggregator Litentry network. LIT soared from a seven-day low of $0.001 to a high of $0.003 for a sizeable rally of 200%.
Not to be ignored is OpenDAO (SOS), a token meant to support artists and creators on the OpenSea non-fungible token (NFT) marketplace. SOS was airdropped last week in accordance with the amount of ETH spent by marketplace users.
SOS is up 320% since it was airdropped and is currently sitting on 170% gains over the last seven days.
In the same timeframe, Ethereum (ETH), the second-largest crypto by market cap, moved down 9%. Similarly, Bitcoin (BTC) is down 6.5% in the past week.
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Featured Image: Shutterstock/Eduard Muzhevskyi
Source: https://dailyhodl.com/2022/01/02/four-low-cap-altcoins-skyrocket-182-or-more-in-seven-days-as-broader-crypto-markets-trade-sideways/