Most cryptocurrency markets seem to inch closer to a recovery phase. Although the bullish momentum isn’t as outspoken as it could be, things have begun to improve again. These four altcoins show tremendous momentum and a hefty weekly price increase, although sustaining it will prove tricky.
There is a growing demand for interoperable solutions in the blockchain and crypto space. Evmos brings Ethereum-based apps and assets to interoperable networks under the Cosmos banner. Moreover, it attempts to align incentives among developers and users by providing the best of EVM and composability. The EVMOS price noted an increase of 33.9% this week, despite a rather bearish momentum today. Its market cap has surpassed $500 million, confirming the bullish sentiment.
One of the top crypto assets noting steep losses in the first half of 2022 is AAVE. Even though Aave remains one of the resilient DeFi platforms on the market, it needs a substantial market push to retain that position. This week is off to a good start, thanks to a 22.9% increase. However, the AAVE price remains below $70, despite hitting over $74 less than 24 hours ago. Decisively pushing the market cap above $1 billion is the next objective.
The big news last month was how THORChain finally launched its mainnet. It took multiple years of building, and THORChain lets users trade BTC for other supporting assets without relying on bridges or wrapped tokens. The current network supports BTC, ETH, BNB, DOGE, LTC, BCH, and RUNE. Support for ATOM and AVAX will roll out over the coming weeks. RUNE notes a weekly 21.7% increase, elevating its market cap above $675 million.
Cosmos Hub (ATOM)
The interoperability that Cosmos Hub brings to the table is exciting for the broader blockchain industry. It plays a key role in the aforementioned Evmos project and continues to attract attention from builders globally. Moreover, the ATOM value rose by 21.4% this week, pushing Cosmos Hub to a market cap of over $2.6 billion again. Like the other assets, there is still tremendous work ahead to reach previously established values again, though.
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