Altcoins and DeFi tokens are rising as Bitcoin price is $ 40,000. fluctuates

189
SHARES
1.5k
VIEWS
ADVERTISEMENT


Bitcoin’s price (BTC) has rebounded from its recent low of $ 37,500, and the retreat of the digital asset towards the $ 40,000 mark has spurred bullish activity on many altcoins.

Data from Cointelegraph Markets Pro and TradingView shows that the top winners over the past 24 hours are XYO Network (XYO), Saffron Finance (SFI) and Quant (QNT).

Related articles

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

XYO / USD

In the past 24 hours, XYO Network, a location-based data network that uses blockchain to track and record location information, has grown by 72%.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for XYO on August 2nd, 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. XYO price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for XYO started to register in the green on August 1st and climbed to a high of 71 on August 2nd, about 22 hours before the price rose 72 percent.

XYO’s growth follows a teaser announcement that developers are working on “a big change to improve the way coinage works.”

SFI / USD

Saffron.finance also broke out with a 20% gain, a trend seen with many DeFi tokens today.

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

As can be seen on the chart above, the VORTECS ™ Score went green, hitting a high of 75 on August 1st, about 55 hours before rising 20% ​​the next day.

Enthusiasm for the project has grown over the past week as community members prepare for the release of Saffron v2, which offers perpetual SFI staking and an expansion of price protection.

Related: Bitcoin hits a high of $ 39,000 as the SEC chairman’s comments increase BTC price by 2%

QUANTITY / USD

Quant (QNT), an interoperability-focused project designed to help companies integrate and operate distributed ledger technology, has also recovered today, and data from Cointelegraph Markets Pro has kept market conditions favorable for QNT for some time.

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

As can be seen in the graph above, the VORTECS ™ Score for QNT has been in the green for most of the past week, hitting a high of 79 on August 3rd, just seven hours before the price rose 25%.

The bullish momentum for QNT has been on the up since the July 30th announcement that the token would be listed on the Binance exchange, a development registered by the NewsQuakes ™ warning system on July 28th and again on July 30th .

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.