Major Ethereum (ETH) Competitor Makes Cosmic Leap As Metaverse Tokens ApeCoin, Flow, and Axie Infinity Rally
Ethereum (ETH)-competitor Cosmos (ATOM) is surging as the crypto markets spark a comeback led by the leading digital asset Bitcoin (BTC) and a handful of metaverse tokens.
Cosmos, which is a layer-1 blockchain, rose from a seven-day low of $11.67 on September 6th to $16.54, a staggering 41.7% increase.
ATOM has since stabilized and is changing hands for $16.09 at time of writing, a 21% increase during the last day. Metaverse tokens are also riding the rising crypto wave as ApeCoin (APE), the native token of the Bored Ape Yacht Club community, surged nearly 15% on the day.
APE rose from a week-low of $4.21 on September 6th to a peak of $5.26, a 25% increase. APE has since dipped and is moving for $5.10 at time of writing.
Another coin on the rise is smart contract platform Flow (FLOW), which last month announced a partnership with social media giant Meta to bring non-fungible tokens (NFTs) over to photo-sharing platform Instagram.
Flow too rose from its week-low of $1.75 set on September 6th to a peak of $2.15, a 23% increase.
The Ethereum challenger has slightly decreased and is now valued at $2.13.
Gaming altcoin Axie Infinity (AXS) is also rallying as it saw a 7.3% increase during the last 24 hours. AXS is trading for $14.89 at time of writing. Though the token is seeing green, it has crashed a whopping 80% from its 2022 high of $71.44 set in March.
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Featured Image: Shutterstock/klyaksun/WindAwake