The digital currency ecosystem is currently experiencing a massive valuation drop as the cryptocurrency industry is still trying to find a footing after the United States Bureau of Labor Statistics (BLS) released inflation data in September. .

The Consumer Price Index (CPI) stood at 8.2% last month, showing that continued interest rate hikes, the last of which was 75 basis points, are not paying off right now. The resulting backlash threw the traditional market into chaos, and the resulting ripple effect was experienced across the broader digital currency ecosystem.

The combined crypto market capitalization was down 0.31% at the time of writing and was pegged at $921 billion. With the trend seemingly down, here is a brief summary of altcoins entering the new week with impressive weekly performance.

Quant (QNT)

For the second time in a row, Quant is trending as one of the best in the ecosystem at 22.46% to $192.68 per data from CoinMarketCap. The coin has been in a massive uptrend for most of this month, and investors may need to take a good look before jumping into this token in the future. This is because a slight correction may be underway in the short term.

Huobi Token (HT)

Huobi Token is the native currency of the Huobi global exchange. The coin has printed up 72.16% to $7.07. The Huobi token is flying in a massive uptrend with the news that the exchange has been acquired by About Capital Management, with reports of links to Tron founder Justin Sun.

With the change in ownership, investors believe the exchange may be well capitalized and positioned to fund its current global growth.

Arweave (AR)

Arweave is a decentralized storage network that seeks to offer a platform for indefinite data storage. Since its inception, the adoption of the protocol has grown remarkably; Until now, this adoption has been reflected in the growth of its symbolic price.

The coin is changing hands at $10.06, up 13.50% from last week.

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