A handful of altcoins have outperformed the broader cryptocurrency market with gains of 100% or more over the past seven days.
One of the best performing altcoins this week is BTC Standard Hashrate Token (BTCST). This is an altcoin designed to allow holders to stake their tokens on-chain and earn Bitcoin (BTC) mining rewards.
Over the past week, BTCST surged from a weekly low of $7.19 to a high of $42.69, registering a staggering gain of over 493% in just seven days. BTCST has since retracement and is currently trading at $31.06.
Another token in the spotlight this week is Optimism (OP), a Layer 2 scaling solution for leading smart contract platform Ethereum (ETH). The OP surged from a seven-day low of $0.74 to a high of $1.96, up more than 164% in just one week.
The OP has also retreated from its weekly high and is trading at $1.70 at the time of writing.
Next is the automated yield farming protocol yearn.finance (YFI). The decentralized financial protocol gained more than 127.86% in seven days, rising from a weekly low of $6,249 to a high of $14,239.
YFI has bounced back from 7-day highs and is trading at $11,863 at the time of writing.
The final altcoin on our list is Oasis Network (ROSE), a smart contract platform designed to prioritize privacy in open finance. ROSE rose from a 7-day low of $0.045 to a high of $0.095, showing an increase of over 111%.
ROSE has corrected slightly from its highs and is trading at $0.086 at the time of writing.
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Featured Image: Shutterstock/Natalia Siiatovskaia/Mia Stendal