Altcoins rise after Bitcoin price bounces off a major moving average


The cryptocurrency market got off to a slow start on Aug. 19 after US Federal Reserve talks to curb stimulus measures put pressure on global financial markets, but momentum within the crypto market picked up in the afternoon session when Bitcoin (BTC) – Bulls finally managed to break above 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 upgrades and stock market listings.

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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 Voyager Token (VGX), SwissBorg (CHSB) and Energy Web Token (EWT).

Voyager 2.0 inspires investors

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

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for VGX on August 16, 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. VGX price. Source: Cointelegraph Markets Pro

As can be seen on the chart above, the VORTECS ™ Score for VGX turned green on August 15th and climbed to a high of 85 on August 16th, about 46 hours before the price rose 100% the next day.

The excitement for the project comes as VGX and the platform go through a token swap and upgrade to Voyager 2.0.

SwissBorg pumps after new listing

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 after hitting a low of $ 0.714 on August 18, the price of CHSB rose 35% to an intraday high of $ 0.973 during its 24-hour trading volume rose 445% to $ 16.1 million.

CHSB / USDT 1 hour chart. Source: Coin Gecko

The sudden momentum for the project was the result of the listing of the CHSB token on the Bitfinex exchange on August 18, and the growing strength of the ecosystem is evidenced by the recent revelation that the SwissBorg community now has 450,000 verified users.

Related: The introduction of stablecoins and the future of financial inclusion

Energy Web Token staking attracts users

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

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

As can be seen in the graph above, the VORTECS ™ Score for EWT began to rise on August 13th and hit a high of 77 on August 14th, about 84 hours before the price rose 33% the next day.

Interest in the project has started to rise thanks to an ongoing series of discussions held by team members explaining the various aspects of the protocol, including staking out and the “control panel” user interface.

The total market cap for cryptocurrencies is now $ 1.954 trillion and the dominance of Bitcoin is 43.9%.

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