Since last week, very little has changed regarding the prices of major cryptocurrencies as Bitcoin and Ethereum remain stuck in a range. Bitcoin has struggled to breach the $30,000 mark while Ethereum is hovering just below $2,000. The reality is that the dominant trend is bearish, and typically, a Bitcoin price dip pulls altcoins down with it.
But this was not the case this week.
Popular cryptocurrencies like Tron and Aave have set their trends. Other good signs have emerged with tokens like Axie Infinity, trading with decent gains. Let’s look at the three altcoins that swept crypto investors off their feet.
Impressive Gains: Tron (TRX)
Everyone in the crypto space knows how markets are now correcting course, with many projects decreasing in value of late. Still, Tron showed significant growth, despite the bear market. After announcing the release of the decentralized algorithmic stablecoin, USDD, the total accounts in the Tron ecosystem exceeded 90 million. According to the network, transactions on the Tron blockchain surpassed 3.1 billion. Soon after, Tron’s (TRX) prices surged by 10%.
Tron kept up the momentum and gained another 7% to become the most profitable crypto asset on Tuesday.
Socially Popular: Aave (AAVE)
According to Whalestats, a crypto wallet tracker, Aave was in the top 10 by trading volume among the 100 biggest Ethereum whales on Thursday. Aave currently remains the second-largest decentralized protocol with $7.71 billion in total value locked. While the value locked is significantly high, it is still lower than AAVE’s $10 billion TVL in April. The odds were not precisely in Aave’s favor. Still, the blockchain company released the decentralized social media platform, Lens Protocol, that it had been testing for a while now.
The announcement could have impacted AAVE well, as the crypto gained 20% this week.
Game on: Axie Infinity (AXS)
According to blockchain data, over 75% of holders with Axie Infinity tokens are making profits at current prices. However, whales seem to be more fond of the play-to-earn network, as, on Thursday, Axie Infinity became one of the most used smart contracts among the top 500 Ethereum whales. So far, Axie Infinity (AXS), has gained over 350% in the yearly timeframe.
However, the token is down by over 85% from its last all-time high of $162 in November 2021.
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Also Read: Aave launches a kind of Twitter for Ethereum developers
