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Analysis

Tezos, Bitcoin Cash and Verge make good arguments for the ‘alt season’

Biraajmaan Tamuly

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Source: Pixabay

The collective digital asset market cap has registered a spike of 65.14 percent since 1 January. That is over $100 billion in less than 2 months, which is why a majority of the space is completely convinced by the bull-run bandwagon.

Keeping some of the major crypto-assets aside, a few mid-cap cryptocurrencies are exhibiting significant pumps of their own, namely, Tezos and Verge. Apart from them, Bitcoin Cash has hiked significantly as well.

Source: XTZ/USD on Trading View

Over the past week, Tezos has come under the spotlight after it outperformed the likes of Cardano and Monero and entered the top 10 on CoinMarketCap’s cryptocurrency rankings. Tezos recorded a growth of 114 percent over the past 14 days, stretching its value from $1.63 to $3.47. The asset’s token economics has been appreciated by many in the community, especially since STO tokens are getting built on its blockchain, adding to its surging demand.

Source: BCH/USD on Trading View

Although Bitcoin Cash is a top crypto-asset, its significant hike cannot be undersold. On 14 January, BCH underwent a massive pump, something that was mirrored again on 5 February when the 24-hour uptick was above 19 percent. Its valuation had risen to $492.52, at press time, from $268.29 over the last 30 days.

This is an interesting development as its ecosystem hasn’t announced any major developments off late. However, according to a recent report, Bitcoin Cash proponent Roger Ver and other personalities such as Jihan Wu of Bitmain and Kraken‘s Jesse Powell are off-the-hook in a lawsuit which accused them of manipulating the cryptocurrency’s price during the 2018 hard fork. This may have been the shot-in-the-arm the BCH ecosystem needed.

Source: XVG/USD on Trading View

Finally, Verge has also been able to take advantage of the market’s bullish phase, with a hike of over 65.10 percent over the past two weeks. Sporting an improvement from $0.003 to $0.006, Verge received a positive response from the community after it was added by Pornhub as a payment option for its entertainers after PayPal discontinued its services with the adult entertainment website.

Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.