Two Ethereum competitors are up 93% and 45% in just one week, far outperforming the bitcoin and crypto markets

Ethereum (ETH)’s two rivals are skyrocketing this week, far outperforming both Bitcoin (BTC) and the crypto markets in general.

Continuing defiant crypto market trends, Filecoin (FIL) and Conflux (CFX) are up 93% and 45% respectively over the past seven days.

Last week, the development team behind Conflux, China’s only lawful blockchain, announced a partnership with China Telecom, one of the country’s largest mobile operators.

Conflux said the goal of the partnership is to create a bridge between Western and Asian markets.

News of the collaboration sparked a rally as the token surged from $0.055 to $0.095 in less than a day, a surge of 73%. CFX ended the week at $13.30 but has carried on the momentum it gathered last week and is trading at $0.26 at the time of writing, up 93%.

Earlier this week, decentralized storage platform Filecoin announced that it would add smart contracts to its protocol and support for the Ethereum Virtual Machine (EVM).

At the time, news of the upgrade sent FIL skyrocketing and defied the broader crypto markets. The token surged 62% to $8.24 in just one week but has since declined, changing hands at $7.39, still a 45% gain.

Filecoin, which is backed by prominent investors including the Winklevoss twins and asset management titan Andreessen Horowitz, plans to fully launch smart contract capability by March 14, and the protocol is expected to evolve into a full Layer 1 blockchain when it does.

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