The cryptocurrency market discovered itself in a holding sample on Aug. 17 as the value of Bitcoin (BTC) lingers under $46,000 and bulls regroup to plan their subsequent try and push the value larger.
Regardless of the struggles confronted by most of the prime cryptocurrencies, a number of altcoins had been buoyed by optimistic developments and CT Professional’s prime market gainers index reveals many producing double-digit features.
Audius companions with TikTok
The highest-performing coin over the previous 24-hours has been Audius, a decentralized music-sharing and streaming protocol that permits direct transactions between listeners and creators and helps to chop out the intermediary who faucet into artist’s income streams.
In line with information from Cointelegraph Markets Pro, market situations for AUDIO have been favorable for a while.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mix of knowledge factors together with market sentiment, buying and selling quantity, latest value actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for AUDIO has been within the inexperienced zone for many of the previous week and reached a excessive of 80 on Aug. 13, round 66 hours earlier than the value elevated 156% over the subsequent day.
The trigger for the sudden spike in value was an announcement from Audius that it had partnered with TikTok to allow crypto-powered music streaming, a growth that was registered by the NewsQuake™ alert system shortly after the value initially started to rise.
Solana’s rising tide lifts Raydium value
Raydium is an automatic market maker (AMM) and liquidity supplier constructed on the Solana blockchain for the Serum decentralized alternate (DEX). The Solana ecosystem has been gaining traction as of late and Raydium seems to have benefited from the elevated curiosity within the community.
Knowledge from Cointelegraph Markets Pro and TradingView present that after hitting a low at $Four.64 on Aug. 12, the value of RAY has spiked 75% to an intraday excessive at $eight.11 on Aug. 17 with $317 million price of 24-hour buying and selling quantity.
Momentum for RAY actually started to select up beginning on Aug. 9 when it was announced that Binance can be listing the token in its innovation zone. The worth moved larger following one other announcement on Aug. 17 that the alternate would launch perpetual futures contracts for the venture.
Helium rallies because the community’s node rely expands
Helium is a venture centered on making a decentralized blockchain-powered community for web of issues (IoT) units and the venture is powered by nodes run by group members.
VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for HNT on AUG. 12, previous to the latest value rise.
As seen within the chart above, the VORTECS™ Rating for Helium has been elevated over the previous week and reached a excessive of 77 on Aug. 16, round Four hours earlier than its value elevated 37% over the subsequent day.
Momentum for the venture has been steadily growing because it efficiently accomplished a $111 million token sale on Aug. 11.
The general cryptocurrency market cap now stands at $1.977 trillion and Bitcoin’s dominance price is 43.6%.
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