Quant, Arweave and Avalanche all rise as Bitcoin seeks support


The cryptocurrency market re-entered a period of uncertainty on Aug. 18, when the price of Bitcoin (BTC) struggled to gain momentum below $ 46,000 and large cap altcoins fell slightly.

Several projects bucked the trend and achieved double-digit profits thanks to cross-chain integrations and protocol upgrades that delighted their respective communities and offered traders lower-cost Ethereum network alternatives.

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

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners over the past 24 hours have been Quant (QNT), Arweave (AR) and Avalanche (AVAX).

AR continues its hot series

Arweave’s AR token was one of the top performing coins over the past week, with activity on the decentralized storage network continuing to set new record highs in daily transactions.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for AR on August 14 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 such as market sentiment, trading volume, recent price movements and Twitter activity.

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

As can be seen in the graph above, the VORTECS ™ Score for Arweave was pushed into the green earlier this week, hitting a high of 71 on August 14th, about 19 hours before the price of AR rose to 106 over the next four days % has increased.

QNT rallies 33%

The business-centric Quant protocol specializes in facilitating interoperability across separate blockchain networks, and on August 18, the QNT token saw its second-largest gain, according to data from Cointelegraph Markets Pro.

Data from TradingView shows that after hitting a low of $ 149.61 on August 17, the price of QNT rose 33% to an intraday high of $ 200.18 on August 18, during its August 24th -Hour trading volume increased 436% to $ 179 million.

QNT / USDT 4 hour chart. Source: TradingView

The momentum for the project has been on an upward trend since the inception of the Quant Developer program aimed at attracting new developers to the project’s ecosystem.

Related: Ukrainian Ministry is considering pilot project on digital currency for staff salaries

Avalanche integrates with Aave and Curve

Avalance is a first-tier blockchain protocol that claims to be “the fastest smart contracts platform in the blockchain industry by time to final”. The project also boasts of “having the most validators to back up its activity from any proof-of-stake protocol”.

Data from TradingView shows that after falling to a low of $ 21.44 on August 18, the price of AVAX rose 33% to an intraday high of $ 28.47 during the 24-hour Trading volume rose 50% to $ 1 billion.

AVAX / USDT 4-hour chart. Source: TradingView

The project received a boost on Aug. 18 following the announcement that Avalanche had partnered with Aave and Curve to launch a $ 180 million liquidity incentive program called the Avalanche Rush.

According to the announcement, the goal of the program is to “bring blue-chip DeFi applications to Avalanche, starting with two popular protocols, Aave and Curve”.

The total market cap of the cryptocurrency is now $ 1.961 trillion, and the dominance rate of Bitcoin is 43.9%.

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