After a very poor start to 2022, crypto coins have really started showing some excellent rallies. Most of the coins have closed well in the green in the last week of March, and the momentum may go further. This is why the coins are rallying:
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The period of uncertainty over the Fed rate hike is now over.
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Many investors who have shaped the market are starting to come back.
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Institutions are viewing crypto as a diversified asset pool to hedge against equities.
In the midst of this rally, there are some coins that have performed better than we expected. Here are some of them:
Ethereum Classic (ETC)
As the transition from the Ethereum Proof of Work model gets closer, we have noticed some notable changes among Ethereum miners. e.t.c, In fact, at one point the coin was up about 70% in a week.
Data Source: Tradingview
So far, it looks like ETC has erased the losses this year and the uptrend is still going strong. While there has always been some positive outlook around the coin, many analysts did not expect it to recover as fast as it did. We expect more profit in the second quarter of this year.
Convex Finance (CVX)
DeFi has always been a big part of the future development of crypto. 2021 was a successful year for DeFi, and there was a lot of optimism that we were going to see more and more success in 2022. But DeFi coins failed to impress, and Convex Finance (CVX) As a result saw a huge drop from ATH. But the DeFi space is rebounding, and CVX is up 50% for the week.
ZILKA (ZIL)
Imagine a growth of 150% in less than a week? district Down and out appeared a few weeks ago, and it was struggling to find any momentum. Although there was some hope that it would eventually recover, the fact that he did it in a week or so just boggles the mind.