Altcoins rise after Bitcoin price bounces off a major moving average

The cryptocurrency market got off to a slow start on Aug. 19 after talks about reducing the Fed’s stimulus measures put pressure on global financial markets, but momentum within the cryptocurrency market rebounded in the afternoon session when Bitcoin (BTC) finally bulled managed to break the $ 46,000 mark.

While most altcoins slowly warmed up on Thursday, several altcoins led the way with gains of over 20% due to important protocol updates and stock market listings.

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

Data from Cointelegraph Markets Pro and TradingView show that the biggest gains over the past 24 hours have been Voyager Token (VGX), SwissBorg (CHSB) and Energy Web Token (EWT).

Voyager 2.0 inspires investors

Altcoins rise after Bitcoin price bounces off a major moving average
Altcoins rise after Bitcoin price bounces off a major moving average

VGX is the native currency of the Voyager platform, a cryptocurrency broker that provides trading services for retail and institutional investors.

Cointelegraph Markets Pro’s VORTECS data began to spot a bullish outlook for VGX on August 16, ahead of the recent price hike.

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

VORTECSâ ?? ¢ Score (green) compared to the VGX price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS score for VGX turned green on August 15 and rose to a high of 85 on August 16, about 46 hours before the price rose 100% the following day.

The excitement for the project comes when VGX and the platform undergo a token exchange and upgrade to Voyager 2.0.

SwissBorg rises after listing on a stock exchange

SwissBorg is another platform that is focused on asset management and offers a community-centric environment where users can exchange and store their crypto assets.

Data from Cointelegraph Markets Pro and CoinGecko show that CHSB’s price, after falling on Jan.

CHSB / USDT 1 hour chart. Source: Coin Gecko

The sudden impetus of the project was the result of the recording of the CHSB token on Bitfinex on August 18th, and the growing strength of the ecosystem is evident in the past epiphany that the SwissBorg community already has 450,000 verified users.

Energy Web Token Scam attracts users

The price of Energy Web Token also increased today after the project introduced new parking features. According to Cointelegraph Markets Pro, market conditions have been favorable for EWT for some time.

VORTECSâ ?? ¢ Score (green) compared to the EWT price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS score for EWT started rising on August 13th and peaked at 77 on August 14th, about 84 hours before the price rose 33% the next day.

Interest in the project is growing thanks to a series Ongoing discussions, led by team members, explaining the various aspects of the protocol, including staking out and the “switchboard” user interface.

The global market capitalization of the cryptocurrency is currently at $ 1.954 trillion and the dominance index of Bitcoin is 43.9%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trade move involves risk, you will need to do your own research when making a decision.

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