As Bitcoin And Ethereum Took A Breather, 1 Lesser-Known Crypto Hit New High Last Week

In an overall bearish market Bitcoin BTC/USD, Ethereum ETH/USD and Dogecoin DOGE/USD saw moderate spikes of 0.52%, 3.05%, and 0.96%, respectively, last week.

Certain cryptocurrencies stood out from the crowd in this volatile environment — with some seeing a massive influx in the last week. Benzinga brings you its weekly roundup of the top five gainers and losers.

Huobi token HT/USD, the native coin of China's once-popular cryptocurrency exchange Huobi Global rallied over 28.89% in the last seven days. The initial HT hype ended after the news of Justin Sun's assumption of leadership at Huobi. In the last two days, the price of HT has been rising again — adding 16%.

See More: Best Cryptos To Hedge Against Inflation

Klaytn token KLAY/USD, a metaverse and gamefi-focused public blockchain gained 26.10%, reaching the $0.1803 mark. The surge came as a result of a new governance proposal announcement, boosting the optimism and bullishness of its community.

An ongoing proposal by our GC recommends reducing existing block rewards by ⅓ in order to optimize the level of $KLAY emission.

Results of the governance vote will be in by 25 Oct 2022.

More details here:https://t.co/wkC9WEOrzq

— Klaytn (@klaytn_official) October 23, 2022

Aave AAVE/USD ranked as the top-third performer, surging 16.445%, followed by Telegram Open Foundation’s native coin TON TON/USD gaining 14.40%. The token has reacted impressively after Telegram announced Saturday that it is going to offer usernames via a platform on TON, two months after the idea was floated by Telegram founder Pavel Durov.

Aptos APT/USD stood at number five, up by 12.58% in the last seven days.

The worst-performing cryptocurrencies that witnessed intensive sell-off were Axie Infinity AXS/USD, Quant QNT/USD, Ethereum Name Service ENS/USD, Terra Classic LUNC/USD, Casper CSPR/USD, declining 21.40%, 15.01%, 14.24%, 12.04% and 11.44%, respectively.

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