The crypto-market’s bullish rally has been collectively sour over the past week after major crypto-assets registered significant drops. Bitcoin went below the $10,000 level again and considering the fact that the world’s largest crypto-asset usually plays a major role in other assets’ movement, certain mid-cap assets were analyzed to understand the level of impact felt by them.
Ethereum Classic mirrored Bitcoin’s dip in the industry after the token registered a depreciation of 37.55 percent between 13-20 February. The valuation fell down from $13.088 to $8.20 on 20 February. However, recovery has been strong since, with its price at press time recorded to be $9.522.
ETC has received a lot of community attention lately after the token underwent significant development over the last year, including the recent Agartha upgrade in 2020.
VeChain, a token currently ranked 32nd on the cryptocurrency charts, faced a similar correction period of -27.99 percent over the last five days, undermining its significant surge of 48 percent since the start of February.
Although the coin recorded a 2.13 percent positive incline over the past 24 hours, its trading volume remained significantly low at $178.15 million, at press time. VeChain had a market cap of $367.65 million after briefly crossing the $380 million mark on 14 February.
Breaking away from the pack with a 66.31 percent hike over the last five days, Algorand managed to avoid the bearish sword over the past week. The valuation scaled all the way up to to $0.48 from a lowly $0.28, without witnessing any major corrections.
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Following the announcement, Algorand recorded a meteoric growth of 24.60 percent over the last 24-hours, with a trading volume of over $220 million, at press time.