As Bitcoin, Ethereum, Dogecoin Suffered Fed-Induced Market Slide, These Cryptos Struck Gains Last Week

Zinger Key Points
  • XEC, the native token of a Bitcoin Cash fork, rallied 51% in the last day alone.
  • Altcoins saw muted gains as traders turned bearish on large cap cryptos like BTC, ETH and DOGE over last week.
As Bitcoin, Ethereum, Dogecoin Suffered Fed-Induced Market Slide, These Cryptos Struck Gains Last Week

eCash XEC/USD and Chiliz CHZ/USD were the two largest gainers as the cryptocurrency market saw a massive drawdown last week. Bitcoin BTC/USDEthereum ETH/USD and Dogecoin declined 7%, 9% and 10%, respectively, in the last seven days.

Top Gainers of Week Ending August 29, 2022 (Data via CoinMarketCap)
Cryptocurrency 7-Day % Change (+/-) All-Time High Value/Date Reached % Change (+/-) Since All-Time High
eCash (XEC) +42% $0.00038 On Sept 04, 2021 -86%
Chiliz (CHZ) +11% $0.87 On May 13, 2021 -76%
Huobi Token (HT) +8% $39.66 On May 12, 2021 -87.5%
UNUS SED LEO (LEO) +4% $8.04 On Feb 02, 2022 -34%
Litecoin (LTC) +0.70% $410.26 On May 10, 2021 -86%

eCash Avalanche Gets A Launch Date

The native token of eCash, formerly known as Bitcoin Cash ABC, rallied 41% in the last day alone. eCash is a fork of the Bitcoin Cash BCH/USD blockchain, which is itself a fork of the Bitcoin blockchain.

XEC rallied after founder Amaury Séchet confirmed the launch of the XEC confirmed that the Avalanche Post-Consensus upgrade will go live on the mainnent on Sept 14.

The Avalanche upgrade is not connected to the Proof-of-Stake blockchain AvalancheAVAX/USD, but is an infrastructure update exclusive to the eCash blockchain. It will bring 1-block finality to the network as well as increase its security by brining 51% attack prevention.

 

Socios Powered Chiliz Rallies As Fan Token Platform Invests $100M In Barcelona FC

CHZ, the native cryptocurrency token behind Socios.com, gained an impressive 120% over the last month. The token continued to rally this week, gaining 12% even as larger cap cryptocurrencies underperformed.

The driving force of CHZ’s rally was largely attributed to Socios’ $100 million investment in the Barcelona football club’s new digital and entertainment arm.

Huobi Token HT/USD, a cryptocurrency trading platform that supports Socios’s fan tokens, also rallied 8% over the last week.

Posted In: BitcoinChilizeCashHuobiLitecoinUnus Sed LeoCryptocurrencyLong IdeasNewsMarketsTrading Ideas

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