Algorand, GYEN, Crypto.com altcoins surge even as crypto market slides

Altcoins including Algorand (ALGO-USD), GYEN (GYEN-USD), Crypto.com Coin (CRO-USD), Decentraland (MANA-USD) and Voyager Token (VGX-USD) are making large moves to the upside even as Bitcoin (BTC-USD) and most of the crypto market trade in a sea of red. Still, meme-based altcoins such as Dogecoin (DOGE-USD) -5.1%, Saitama (SAITAMA-USD) -36% and Shiba Inu (SHIB-USD) -11% fall intra-day, and are down double digits in the past week, according to data from CoinMarketCap. Perhaps Algorand's (ALGO-USD), the 20th largest crypto by market cap, surge to new all-time highs of $2.38 per token on Wednesday evening is primarily attributed to Upbit, a Korean crypto exchange, listing the South Korean Won/ALGO trading pair on its platform, according to the company's release. Since the jump to $2.38, the tokens have erased a large chunk of those gains, now changing hands at $1.90 per token, though still elevated by 14% intra-day. GYEN (GYEN-USD) is another altcoin that is soaring nearly 100% in the past 24 hours