Two altcoins are up at least 40% this week, while the top two cryptos by market cap, Bitcoin (BTC) and Ethereum (ETH), have stalled.
XRP and fan engagement token Chiliz (CHZ) are up 14% and 9% respectively in the last 24 hours alone.
XRP is up 48% over the past seven days and CHZ is up 40% over the same period.
A crypto legal expert recently said Ripple lawyers should feel safe in the XRP lawsuit with the US Securities and Exchange Commission (SEC).
“Elon Musk was with DOGE.
What the SEC case could be for XRP.
It would be cool if it worked the same way, doesn’t have to.
Never any guarantees, but it’s an exciting narrative for what is essentially a meme coin…
I’m set to full power, these are the relevant resistances
I’ll relentlessly dump as soon as I get cold feet (and ducks get cold feet easily – we don’t wear shoes), but until then I’ll be an XRP maximalist.”
CHZ appears to be riding a wave of momentum in a recent fundamental development.
One wave is the hype surrounding the project’s work to introduce CHZ 2.0, its own native blockchain designed for high speed and scalability.
We don’t have to rely on just the ERC20 or ERC721 equivalent forever. at @chiliz We believe that we can bring some innovations in addition to fungible token formats. Because we work with over 100 of the biggest brands in the world, it’s easier to deploy and scale. $CHZ https://t.co/iRsShRQjAa
— Alexandre Dreyfus (@alex_dreyfus) August 22, 2022
According to Santiment, CHZ is also seeing a boom in whale activity.
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Featured image: Shutterstock/Pattern Trends/VECTORY_NT