These 6 Cryptocurrencies Posted Over 100% Gains Last Week

Bitcoin (BTC) hovered near the $50,000 mark at press time late night Monday having risen nearly 8.2% over a seven-day trailing period, but at least six cryptocurrencies rallied over 100% in the same period.

What Happened: BTC, which reached its all-time high of $49,487.64 on valentine’s day was outpaced on a seven-day basis by these coins:

The Graph (GRT) rose 129.41% in the period and was trading 14.27% higher over a 24 hours period at $2.23 at press time. Ravencoin (RVN) was up 122.17% over seven days and 15.73% over 24 hours at $0.082.

Icon (ICX), Bitcoin Gold (BTG), Dash (DASH) ad Lisk (LSK) all rose 120.70%, 111.05%, 108.19% and 104.87% on a seven-day basis. 

See also: Best Cryptocurrency Apps

All these coins traded in the green at the press time. ICX was up 41.69% at $1.84, BTG traded 3.14% higher at $28.37.

DASH and LSK were up 24.68% and 11.37% at $262.26 and $3.44 respectively. 

Why It Matters: The price movement in the Graph is partly driven by a buzz on social media. This was also evident in the case of RVN on the r/Ravencoin Reddit forum.

Cointelegraph noted a boost in the prices of privacy-oriented coins such as DASH and Monero (XMR). 

Benzinga's Take: Every time Bitcoin (BTC) runs up significantly higher, momentum in altcoins has been observed, as investors look for lower-priced assets to enter the market. The cryptocurrencies with smaller market capitalizations pose a significant risk and retail buyers should perform due diligence over the projects backing these coins before considering an investment.

Price Action: BTC traded 4.59% higher at $49,416.64 at press time. Ethereum (ETH) traded 4.99% higher at $1,817.70.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

Market News and Data brought to you by Benzinga APIs
Posted In: CryptocurrencyIntraday UpdateMarketsMoversTrading IdeasBitcoin GoldDashLiskRavencoinThe Graph
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!