Two Ethereum-Based Altcoins Erupt in Defiant Rallies, Outrunning Bitcoin and Crypto Markets in Week of Wild Volatility
Two Ethereum (ETH)-based altcoins are bucking the trend and making gains this week despite the widespread crypto meltdown.
The native token for blockchain technology company Chain (XCN) is surging by more than 30% this week from a low of $0.071 to a high of $0.091.
The 51st-ranked crypto asset by market cap has corrected since and is trading at $0.084 at time of writing.
Deepak Thapliyal, chief executive of Chain, encourages developers who’ve lost their jobs due to current market conditions to apply for jobs at his company.
? Builders: If for any reason these market conditions have cost you your job, due to circumstances out of your control, please apply for a position at @Chain. We are actively hiring talent. Chain continues to be in build ? mode & is remote-first ??
— Deepak.eth ? (@dt_chain) May 12, 2022
This week, XCN also became available on Binance Smart Chain, according to Thapliyal.
“XCN is now available on Binance Smart Chain with liquidity incentives on PancakeSwap. Users can bridge their ERC-20 XCN using Huobi or Gateio as well as utilizing the PortalBridge through Wormhole.”
Not to be outdone, FLEX Coin (FLEX), the native token of CoinFLEX, a Hong Kong-based futures exchange platform, jumped over 33% this week from a low of $3.72 to a high of $4.95. The 124th-ranked crypto asset by market cap is trading at $4.82 at time of writing.
On Thursday, CoinFLEX’s stablecoin, flexUSD, surged to a high of $1.09 and then dropped to a low of around $0.93, but the asset has since stabilized to $1.00.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Guguart/Sensvector