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Outperforming SOL, ETH, BTC: 3 Altcoins with Massive Growth
- Sei Network (SEI) has surged 77% in the past week and an extraordinary 9716% in the past year, attributed to its high-performance features and strong community interest.
- Internet Computer (ICP) has seen a significant increase of 56% in the past week, and 268% over the past year, following an announcement about the launch of a GDPR-compliant European subnet for decentralised applications.
- Astar (ASTR) has experienced a notable 29.8% increase over the past week, with an annual return of 333%, likely driven by anticipation of the Astar 2.0 upgrade, enhancing its position in the Polkadot ecosystem.
The rumours about Bitcoin Spot ETFs being delayed after a Matrixport report may have caused the recent crash in crypto, or had nothing to do with it, depending on who you ask. Nevertheless, Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Cardano (ADA) all saw sizeable price shocks in the past 24 hours. Here are three altcoins that are bucking the trend and why.
Sei Network (SEI) Surges 77%
Sei (SEI) is the current top performer in the crypto space, gaining almost 10% in the past day and a whopping 77% in the past week. While this is impressive, Sei hasn’t just taken off in recent days. In fact, the Sei ecosystem has gained 9716% in the past year, most of this growth occurring since November 2023.
The SEI blockchain is a DeFi-centric layer 1 blockchain, created with Cosmos SDK, that emphasises high throughput, low latency, customizability, and security for DeFi applications, leveraging Cosmos’ interoperability capabilities and prioritising decentralised community governance. Analytics platform Santiment has noted its high speed and large community interest in a recent report.
Internet Computer (ICP) Gains 56%
ICP has gained 2.7% in the past 24 hours, 56% in the past week and 268% in the past year.
The spike comes after a December 2023 announcement of DFINITY Foundation, the Swiss not-for-profit behind ICP. According to the announcement ICP has launched a European subnet, offering GDPR-aligned infrastructure for decentralised applications, providing developers with tools to release dApps in Europe that comply with rigorous personal and financial data protection regulations.
“The Internet Computer enables full-stack decentralisation. Web3 builders can now create innovative and compliant decentralised experiences that benefit millions of users in the EU and beyond.”
Dominic Williams, Founder and Chief Scientist of DFINITY Astar Up Almost 30%
Astar (ASTR) gained just over 1% in the past 24 hours, but saw a solid 29.8% increase week-on-week, while the annual return is 333%.
Astar is a blockchain platform aiming to support the building of decentralised applications (dApps) by providing a multi-chain infrastructure. It’s part of the Polkadot ecosystem and allows for the creation of smart contracts and dApps – it supports the Ethereum Virtual Machine (EVM) among others. The price increase likely comes on the background of a solid community and an expected upgrade to Astar 2.0 further pushing its web3 ambitions.
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
