Araw rides on massive surge, up over 89,000% within a week

Ethereum-based ARAW token is sitting on a massive rally, recording an increase of close to 131% within a day of trading, according to data provided by CoinMarketCap. 

Trading at $0.016 at press time, the asset had gained 131% within 24 hours, as the trading volume lost 21% within the same period. Araw’s weekly gain stood at 89,705% as of press time.

Araw’s surge comes when the general crypto markets seem to be recovering from a recent downtrend, with the global market cap going down 0.15% as of this writing, taking the total cap to $1.14T

How are other cryptos performing

Bitcoin (BTC) faces much resistance at the $28,000 level. Trading at $27,600, digital gold had managed a not-so-good 0.1% decrease in valuation within 24 hours of trading as its trading volume dropped by 21%.

Ethereum (ETH), the altcoin king, is setting itself up for a recovery run, recording a mild increase of 0.1% within 24 hours as the asset looks to break back above the $1.850 level, according to CoinMarketCap stats. Trading at $1845 as of press time, ETH was sitting on a weekly loss in valuation of 1%.

PEPE, the meme coin, continues to dominate the meme coin markets despite seeing a 6% decrease within 24 hours.