Altcoins are forecast higher after Bitcoin price remains at $ 47,500

On October 1, bullish sentiment returned to the cryptocurrency ecosystem after a 10% rise in Bitcoin (BTC) price pushed it above $ 47,500 and liquidated more than $ 270 million in short positions Had led.

The altcoin market quickly followed suit, with most tokens in the top 200 seeing double-digit gains for the day.

Top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners over the past 24 hours have been Oasis Network (ROSE), Axie Infinity (AXS) and ICON (ICX).

The appeal of privacy draws traders to the Oasis Network

Altcoins are forecast higher after Bitcoin price remains at $ 47,500
Altcoins are forecast higher after Bitcoin price remains at $ 47,500

Oasis Network is a privacy-friendly blockchain that was developed for open finance and creates a responsible data economy.

Cointelegraph Markets Pro’s VORTECS data began to see a bullish outlook for ROSE on September 30, ahead of the recent price surge.

The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.

Result VORTECSâ ?? ¢ (green) vs. ROSE price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS score for ROSE started rising on September 29th and rose to a high of 74 on September 30th, about three hours before the price rose 60% for the next two days.

ROSE’s price hike is due to the growing importance of Ethereum (ETH) -compliant networks that offer better scalability, with the Oasis network outperforming many competitors thanks to its built-in data protection features.

Axie Infinity starts staking and sends airdrops to the first users

Axie Infinity is a blockchain-based fighting game that enables players to collect, breed, breed, battle and trade token-based creatures known as Axies while generating income.

According to data from Cointelegraph Markets Pro, market conditions have been favorable for AXS for some time.

Result VORTECSâ ?? ¢ (green) vs. price AXS. Source: Cointelegraph Markets Pro

As can be seen in the graphic above, The VORTECS score for AXS climbed into the dark green zone on September 26, hitting a high of 87 around 35 hours before the price began to rise 55% over the next three days.

The AXS price increase comes after the implementation of the participation options for AXS holders as well as a community airdrop that distributed 800,000 AXS tokens to the first users of the game.

ICON will be restored prior to your mainnet upgrade

ICON is a general purpose blockchain protocol and aggregator chain designed to host decentralized applications and facilitate interoperability between separate networks.

Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 1.38 on September 29, the price of ICX rose 45% to a daily high of $ 1.93 on October 1 has increased while its 24-hour trading volume is up 385%. US dollars rose 362 million.

ICX / USDT 4 hour chart. Source: TradingView

The ICX price jump comes after the introduction of a packaged ICX that complies with the ERC-20 standard and can be used interoperably with decentralized finance on Ethereum. The update is part of the final preparation of the protocol prior to the implementation of the ICON 2.0 backbone update.

The total market cap of the cryptocurrency is now $ 2.079 trillion and the dominance rate of Bitcoin is 43%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every movement of investment and trade carries a risk, you must conduct your own investigation when making a decision.

Similar Posts