The broader cryptocurrency markets are consolidating today. There are very few cryptocurrencies and Altcoins which are moving around significantly. That is why, on such a day when an Altcoin surges by over 87%, it instantly comes into the radar of investors as well as traders. The Altcoin which we will discuss today is the best cryptocurrency performer for the day.
This Altcoin is the best cryptocurrency performer today:
In a matter of just 24 hours, it has surged by 87.64%. In the same period of time, the volume has surged from $ 300,000 to $ 1.27 million. This clearly indicates that the surge in the price of the Eternal Token (XET) has been on the back of huge volumes as well. When you look at it on a seven-day basis, it has tripled in 7 days. A week earlier, it was trading around $ 0.27. Currently, it is trading around $ 0.68. Thus, it has nearly tripled in a matter of just one week. Chances are, you might have not heard about this Altcoin before.
In the month of September and October as well, Eternal Token (XET) had risen all the way from $ 0.21 to $ 2.38. This was more than a tenfold increase in just 30 days. Thus, it seems like the momentum driven rallies are actually pretty common in Eternal Token (XET). After hitting a high of $ 2.38, it corrected all the way down to $ 0.14. Thus, it retraced almost all of its gains as well. If you’re thinking of investing in Eternal Token (XET), you have to keep the volatility in mind. It is actually a pretty risky Altcoin.
Thus, in spite of its increase of 87% in just 24 hours, it is a good idea to keep away from this Altcoin.