Ethereum Alternative and Two Low-Cap Altcoins Surge More Than 60%
On the back of a strengthening crypto market, one Ethereum (ETH) hard fork project and two low-cap altcoins are taking off in the past week.
One of the biggest standouts of the week is ICHI, the native token for the stablecoin development project of the same name.
The 225th-ranked crypto asset by market cap is trading at $61.52 at time of writing, up more than 114% from where it was priced seven days ago.
Another surging project is Biswap (BSW), a decentralized exchange powered by the Binance Smart Chain network that uses an automated market maker system to fulfill orders.
The 332nd-ranked crypto asset by market cap is trading at $0.63 at time of writing and is up nearly 70% in the past week. Binance officially listed BSW in its “Innovation Zone” this week, spurring the asset’s rally.
Meanwhile, Ethereum Classic (ETC) is trading at $48.34 at time of writing, up more than 68% over the last seven days.
The project was created after The DAO, a decentralized autonomous organization built on the Ethereum blockchain, was hacked. The Ethereum we know today was hard-forked and modified to essentially undo and reverse the hack.
Ethereum Classic, which is now the 28th-largest crypto asset by market cap, was backed by those who believed in preserving the blockchain’s original history over returning funds to investors.
Ethereum Classic developers have been publicly welcoming miners they say are “disenfranchised” by Ethereum’s upcoming shift to a proof-of-stake consensus mechanism.
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