DeFi tokens see double-digit gains after Bitcoin surged above $ 39,000

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New optimism returned to the cryptocurrency ecosystem on July 26th when Bitcoin’s (BTC) rebound above $ 38,900 sparked a market-wide rally in altcoins.

Data from Cointelegraph Markets Pro and TradingView show Amp (AMP), Venus (XVS) and Reserve Rights (RSR) were the top movers in the past 24 hours.

Top 7 coins with the highest 24 hour price change. Source: Cointelegraph Markets Pro

Five of the top seven winners fall into the decentralized finance (DeFi) sector, a possible sign that DeFi could warm up for another big run in 2021.

AMP / USD

The front runner over the past 24 hours has been Amp (AMP), a digital collateral token protocol that provides instant, verifiable assurances for any type of value transfer.

AMP / USD 4 hour chart. Source: TradingView

Data from TradingView shows that after hitting a low of $ 0.048 on July 25, the price of AMP rose 96% and hit an intraday high of $ 0.094 on July 26, while the 24-hour Trading volume averaged $ 20 million increased more than 800% to $ 280 million.

XVS / USDT

Venus (XVS), a Binance Smart Chain-based algorithmic money market and synthetic stablecoin protocol, also saw a major breakout today.

XVS / USDT 4 hour chart. Source: TradingView

As seen in the graph above, the price of XVS rose 63% from a low of $ 17.13 on July 25 to an intraday high of $ 27.95 on July 26 24-hour trading volume increased more than 600% to $ 180 million.

According to the latest data from Venus, the protocol currently has a total value of more than $ 3 billion on the platform and over $ 1.8 billion in available liquidity.

RSR / USD

The third biggest winner on Monday was Reserve Rights (RSR), a dual-token stablecoin platform made up of the Reserve Stablecoin (RSV) backed by a basket of assets managed by smart contracts and the RSR- Token that helps keep the price of the RSV stable through a system of arbitrage opportunities.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for RSR on July 24, 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.

VORTECS ™ Score (green) vs. RSR price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for RSR turned green on July 24th, climbing to a high of 76, about 28 hours before the price rose 45% the next day.

The price jump follows the protocol upgrade on July 24th, which now enables app users to “deposit and withdraw money on Saturdays and Sundays from 6:00 a.m. to 6:00 p.m.”.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every step of investing and trading involves risk, so you should do your own research when making a decision.