Wednesday, January 19, 2022

Altcoins soar while Bitcoin bulls gather strength to attack $48,000

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The cryptocurrency market charged full steam forward on Aug. 11 as the worth of Bitcoin (BTC) climbed to $46,743 and bulls at the moment are taking aim at the $48,000 resistance level as the subsequent goal. 

Information from Cointelegraph Markets Pro and TradingView exhibits that the most important gainers over the previous 24-hours have been IoTeX (IOTX), WINk (WIN) and Dent (DENT).

High 7 cash with the very best 24-hour worth change. Supply: Cointelegraph Markets Pro

The Coinbase itemizing bump continues for IOTX

IoTeX (IOTX) continued its sizzling streak on Wednesday because the altcoins took the place as the highest 24-hour gainer for the third day in a row. The beneficial properties seem like linked to the Aug. 11 announcement that Coinbase could be itemizing the token.

Information from Cointelegraph Markets Pro exhibits that the altcoin has rallied 322% since bottoming at $0.0293 on Aug. 10. The present surge lifted IOTX to a brand new all-time excessive at $0.124 on Aug. 11 as its 24-hour buying and selling quantity reached $2.75 billion.

VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for IOTX on Aug. 10, previous to the current worth rise.

The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of knowledge factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.

VORTECS™ Rating (inexperienced) vs. IOTX worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for IOTX elevated into the inexperienced zone and reached a excessive of 70 on Aug. 10, round 5 hours earlier than its worth elevated 322% over the subsequent day.

WIN/USDT

WINk, a Tron-based oracle challenge, had the second-largest acquire previously 24-hours. The probably catalyst behind the transfer is rising neighborhood pleasure over new staking and liquidity supplier alternatives, in addition to the challenge’s gaming and nonfungible token options.

Information from TradingView exhibits that the worth of WIN rallied 80% from a low of $0.00046 on Aug. 10 to an intraday excessive at $0.00084 on Aug. 11 as its 24-hour buying and selling quantity elevated by 343%.

WIN/USDT 4-hour chart. Supply: TradingView

WINkLink protocol has now accomplished its transition from being a strictly gaming-focused platform to a complete oracle system able to connecting real-world information by means of its good contracts.

Associated: US dollar downturn aids Bitcoin bulls before $50K BTC price showdown

DENT/USD

Dent, a mobile-focused protocol, rounded out the highest three performers previously 24-hours by placing on a 30.5% acquire to $0.000456 as its 24-hour buying and selling quantity spiked by 200%.

VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for DENT on Aug. 7, previous to the current worth rise.

VORTECS™ Rating (inexperienced) vs. DENT worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for DENT climbed into the inexperienced zone starting Aug. 7 and reached a excessive of 75 on Aug. 9, round 44 hours earlier than its worth started to extend 44% over the subsequent day.

The general cryptocurrency market cap now stands at $1.935 trillion and Bitcoin’s dominance charge is 45%.

The views and opinions expressed listed here are solely these of the creator and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, you need to conduct your individual analysis when making a choice.