Altcoins are rising higher as Bitcoin bulls target $ 50,000

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Bulls made their claim officially clear today as Bitcoin (BTC) price rose 4.18% to $ 49,163, drawing the attention of investors who have been waiting for BTC to recapture the $ 50,000 mark .

The surge in bullish momentum sparked a wave of green candles from altcoins and the majority of tokens in the top 200 posted gains.

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

Data from Cointelegraph Markets Pro and TradingView show that the biggest winners over the past 24 hours have been Syscoin (SYS), Bewegungswap (SWAP) and PARSIQ (PRQ).

Syscoin is celebrating its seventh birthday

The top performing coin in the past 24 hours has been Syscoin, a platform that offers low-cost tokens, assets and NFTs backed by the hash rate and censorship resistance of the Bitcoin network.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for SYS on August 15, 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. SYS price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for SYS climbed into the green on August 15, hitting a high of 72, about four days before the price rose 96%.

The sudden surge in price comes as the Syscoin protocol celebrates its seventh year of operation and prepares for the upcoming upgrade to Taproot, which will go live in November.

Bewegungswap bursts in front of its NFT drop

Bewegungswap is a distributed protocol that describes itself as a “full-service digital asset ecosystem” that holds the promise of creating a new evolution in decentralized finance (DeFi). It specializes in creating multi-chain token swaps and is quickly expanding to include staking functions, the ability to mint new tokens, and an in-house launchpad.

According to data from Cointelegraph Markets Pro, market conditions have been favorable for SWAP for some time.

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

As seen in the graph above, the VORTECS ™ Score for SWAP has been in the green for most of the past week, hitting a high of 78 on August 16, about 68 hours before the price rose 51% the next day.

The excitement surrounding the token has increased in the past few days thanks to an upcoming NFT drop on August 21st.

Related: Nifty News: Mike Tyson’s ear-biting tokens, the NFT that turns you into a TV star, and more …

The PARSIQ community is enthusiastic about new features

PARSIQ, a blockchain-based analytics platform, grew 38.53% in the past 24 hours.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for PRQ on August 18, ahead of the recent price surge.

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

As can be seen in the graph above, the VORTECS ™ Score for PRQ climbed into the green on August 18, hitting a high of 71 for about 26 hours before climbing 70% the next day.

The rapid price escalation came after the release of PARSIQ’s custom streams, which allow projects and developers to “import their contracts and choose which contract events to enable smart triggers for immediately after their contract is deployed”.

The total market cap of the cryptocurrency is now $ 2.091 trillion and the dominance of Bitcoin is 43.7%.

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.