Cryptocurrency News – This Altcoin is the best cryptocurrency performer today

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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:

The Altcoin which we are talking about now is Eternal Token (XET). In the past 24 hours, it has surged by 87.64%. A day earlier, it was trading around $ 0.355. The market cap was around $ 24.17 million. Currently, it is trading around $ 0.6893. The market cap is around $ 46.82 million.

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.

The company which has launched Eternal Token (XET) provides public chain related solutions to cryptocurrency exchanges. Besides that, there is not much information available about Eternal Token (XET). At the same point in time, there has been no fundamental news in the last 24 hours to 48 hours regarding any developments in Eternal Token (XRP). Thus, it seems like it is a momentum driven rally. However, it has experienced such rallies in the past as well.

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.

About Priya 131 Articles
I am an IT engineer by qualification and like to explore the crypto and blockchain space in my free time.

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