In the previous seven days, four low-cap crypto assets have surged and printed significant gains, while Bitcoin is on track for its longest winning streak of the year.
Axie Infinity (AXS), a blockchain-based game that allows users to gather, breed, raise, battle, and trade collectible digital animals, is leading the altcoin drive.
According to CoinGecko, AXS has risen from a low of $17.82 to a new all-time high of $52.17 in the last week, representing a gain of almost 192 percent. Since then, the cryptocurrency has retraced and is now trading at $47.36.
Telcoin (TEL), a crypto asset created to bridge the telecoms business with the larger blockchain ecosystem, is another altcoin making big swings this week. Telcoin (TEL) is a crypto asset meant to facilitate quick transactions, particularly global remittances. TEL has risen 120 percent from $0.010 earlier this week to a seven-day high of $0.022, according to CoinGecko.
Despite the fact that Telcoin is on the rise, it is still a long way from its all-time high of $0.06.
Amp, crypto used for collateralized asset transfers, is the third currency that has seen significant gains this week. According to CoinGecko, AMP has risen 100% from a seven-day low of $0.04 to a weekly high of $0.08.
The utility token of crypto exchange OKEx, OKB, is the next altcoin that has been flying high recently. After increasing to $19.28 from a low of $9.91 on July 21st, the crypto currency has gained almost 94 percent in a week.
OKB is now worth $18.54 at the time of writing.
In the case of Bitcoin, the main crypto asset is printing eight consecutive green candles as it attempts to break and hold the $40,000 mark. According to CoinGecko, BTC has gained 32.9 percent in the last week and now trades for $39,845 per coin. Bitcoin needs to close over $39,500 on a daily basis to break its seven-day winning run, which it set between March 5th and March 11th.