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The crypto market is gathering a bullish momentum after starting the week on a bearish note. For instance, Bitcoin (BTC/USD), the leading cryptocurrency by capitalization, opened the week trading at $39,907 after slipping from $42,541.68 (£30,623.63) on Sunday. This downward movement saw BTC trade as low as $37,782.05 (£27,201.39) by the end of yesterday. Nonetheless, the cryptocurrency has recovered some of these losses after gaining 3.58% over the past 24 hours.

While BTC bulls are gradually sharpening horns, some altcoins have put up an impressive performance today. In the top-10 Polkadot (DOT/USD), Uniswap (UNI/USD), and Ethereum (ETH/USD) are the highest gainers after jumping by 12.64%, 9.96%, and 8.55%, respectively. However, the top-100 list of leading cryptocurrencies has stronger contenders, which have gained more than 15% over the past 24 hours. These are Axie Infinity (AXS/USD), Quant (QNT/USD), and THORChain (RUNE/USD).

Out of the three alternative cryptocurrencies, THORChain (RUNE) is the largest gainer after rising by 19.93% in the last 24 hours to trade at $8.10 (£5.83). The coin’s weekly performance is also strong, with a 93.66% rise. RUNE is currently the 54th-largest crypto with a market cap of $1,872,452,456.00 (£1,348,062,783.43)

Quant (QNT) is the second-biggest gainer today, with an 18.32% gain over the past 24 hours to change hands at $181.68 (£130.80). Like RUNE, QNT’s performance over the last seven days is impressive, seeing as the coin has risen by 89.06%. QNT has a market cap of $2,195,969,118.00 (£1,580,976,986.66), which makes it the 49th-largest crypto.

Axie Infinity (AXS) comes third after gaining 17.92% in the last 24 hours to trade at $44.80 (£32.25). Unlike RUNE and QNT, AXS’ price action over the past week has not been bullish. At the time of writing, 6:20 PM UTC, the coin has lost 2.70% of its value over the last seven days. AXS is the 39th-largest digital asset with a market cap of $2,700,250,797.00 (£1,944,032,060.05).

As is the norm with the crypto market, whenever BTC surges or plunges, it has a ripple effect on the rest of the crypto market. While the coin’s gains today might seem negligible, they played a significant role in helping RUNE, QNT, and AXS trend higher. However, this alone does not explain why these three projects are outperforming others.

In RUNE’s case, users might be taking delight in the fact that the project is striving to improve the security of its network. The project has created a new dedicated security team dubbed THORsec. While THORsec will work independently from the core team, its members will take part in internal code reviews and making big decisions.

As for QNT, crypto adopters have rushed into the market to purchase the token after Binance, the leading crypto exchange by trading volume, announced that it had listed the coin. QNT has four trading pairs on the exchange. These are QNT/BTC, QNT/BNB, QNT/BUSD, and QNT/USDT.

AXS gains primarily emanate from the increasing use-cases on the token within the Axie Infinity ecosystem, especially in the play-to-earn game. Reportedly, people in countries with weak economies have been playing the game to earn their daily bread.

The post RUNE, QNT, and AXS surge over 15%; Crypto market stages another rally appeared first on Invezz.

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