Altcoins are reviving and rising sharping; From zero to 6,000% in a week
The altcoin prices were still but they are skyrocketing and there is no clear reason or explanation why this is happening.
Back on Wednesday, some altcoins who had remained still jumped in prices, and for the last seven days, some of them even saw spikes of 3,000% to 6,500%.
An EOS-blockchain social media project KARMA, which was launched in 2018 can be entitled as the most prominent among these altcoins which saw a sharp rise of 6530% in its dollar price lifting it from $0.000464 and reaching it to $0.030767.
A trade volume spike of 35,400% was also seen which is actually not very significant as it rose from $2 to $710 which does not mean instant availability of liquidity.
It must be mentioned that this token had previously lost almost all of its value (99%) from 2018 to 2020 and their Tweeter activity terminated the same year, but now, due to this huge growth, KARMA’s telegram channel has attracted new members despite the fact that no updates or news have been released there after the aforementioned rise. Their last announcement was made in 2019 when they migrated from EOS blockchain to Worldwide Asset eXchange and it was about moving a token integrating with a WAX cloud wallet.
Nestree (EGG) was another altcoin that saw a 3,018% jump over the last week from $0.0055 to $0.1718. Half of the spike happened in less than 5 minutes which is rather unusual for price movement. Regarding social media announcements, they followed a rather similar approach to that of KARMA’s.
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