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Altcoins Outperform Bitcoin and Ethereum in Early 2023: ALGO, OKB and UNI Lead The Way

• Algorand (ALGO) is up 10.2% over the past 7 days, and 6.2% over the past two weeks.
• OKB (OKB) has seen a weekly gain of over 11%, and a monthly gain of 27.1%.
• Uniswap (UNI) has surged by 35.6% over the past week, and is up 51.8% over the past two weeks.

As the first week of 2023 comes to a close, the crypto market is giving some mixed signals. While Bitcoin and Ethereum, the two heavyweights of the crypto market, have been slow to gain steam, some of the lesser known digital coins have emerged as the stars of the show. These coins have outperformed their peers, and have put together stellar performances in terms of weekly gains.

Leading the charge is Algorand (ALGO), a crypto asset with an overall valuation of $1.30 billion. At the time of writing, the coin is trading at $0.1829, and has seen a 10.2% increase in value over the past 7 days. Additionally, it is up 6.2% over the past two weeks. This surge in value has been seen despite the fact that the coin has been stuck in a bearish momentum recently. Analysts are now beginning to consider Algorand to be one of the non-EVM chains with tremendous potential.

Another coin that has seen impressive gains is OKB (OKB). The altcoin is currently trading at $26.79, and has seen a weekly gain of over 11%, according to CoinMarketCap. Additionally, it has seen a 22.5% increase in value over the past 14 days, and a 27.1% increase over the past month. OKB has even managed to go up by 1% in value on a year-to-date basis, veering away from the norm of digital asset prices dipping in value after the new year.

Finally, Uniswap (UNI) has also seen tremendous gains over the past week. The coin has surged by 35.6%, and is up 51.8% over the past two weeks. This surge can be attributed to the announcement of Uniswap v3, the latest version of the decentralized exchange. This version of Uniswap promises to bring with it a host of features and improvements, including improved liquidity, faster transaction speeds, and more.

It appears that these coins have been able to break away from the bearish trend that has been seen in the crypto market. Whether or not their gains will be sustained in the coming weeks remains to be seen.