Two Ethereum rivals rise 93% and 45% in just one week, far outperforming bitcoin and crypto markets
Two Ethereum (ETH) rivals are soaring this week, outperforming both Bitcoin (BTC) and the crypto markets in general.
Filecoin (FIL) and Conflux (CFX) have rallied 93% and 45% respectively over the past seven days, continuing to defy crypto market trends.
Last week, the development team behind Conflux, China’s only regulatory blockchain, announced a partnership with China Telecom, one of the largest wireless carriers in the country.
Conflux said the aim of the partnership was to become a bridge between Western and Asian markets.
News of the collaboration sparked a rally, as the token went from $0.055 to $0.095 in less than a day, a 73% increase. CFX ended the week moving at $13.30, but has continued to carry over the momentum it gathered last week, trading at $0.26 at the time of writing, up 93%.
Earlier this week, decentralized storage platform Filecoin announced that it would add smart contracts to its protocol, as well as include support for the Ethereum Virtual Machine (EVM).
At the time, news of the upgrade sent FIL soaring, defying the broader crypto markets. The token rose 62% to $8.24 in just one week, but has since bounced back and has changed hands at $7.39, still a 45% increase.
Filecoin, which is backed by prominent investors such as the Winklevoss twins and asset management titan Andreessen Horowitz, plans to launch smart contract capabilities by March 14, and the protocol is expected to transform into a full layer-1 blockchain when it does.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered straight to your inbox
Check price action
Follow us on TwitterFacebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Lyudmyla Ishchenko/S-Design1689/Sensvector
