Altcoins book 50% profit after Bitcoin and Ethereum hit a path to new highs

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Bullish momentum across the cryptocurrency market continued to build on September 3 as a market-wide rally raised the prices of most altcoins, pushing Bitcoin (BTC) and Ether (ETH) above their respective resistance levels at $ 51,000 and $ 4,000.

The recent price gains in the altcoin market show no signs of slowing down, with several altcoins gaining more than 30% on Friday.

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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 top performers over the past 24 hours have been Polymath (POLY), Bitcoin Cash ABC (BCHA), and XYO Network.

Polymath is gathering as the launch of the ‘Polymesh’ mainnet approaches

Polymath is an Ethereum based project that focuses on digital asset management.

Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 0.345 on September 1st, the price of POLY rose 56% to an intraday high of $ 0.54 on September 3rd, while its 24-hour trading volume exploded by 2,040%.

POLY / USD 4 hour chart. Source: TradingView

The sudden momentum for the project comes after the upgrade to the Polymesh-incentivized test network on September 1st, which brings the project one step closer to the full launch of the Polymesh mainnet.

Bitcoin Cash ABC is renamed eCash

Bitcoin Cash ABC, formerly known as Bitcoin Cash (BCH), was recently renamed eCash (XEC).

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. BCHA price. Source: Cointelegraph Markets Pro

As can be seen in the graphic above, the VORTECS ™ Score for BCHA climbed into the green on August 29 and reached a high of 81 on August 30, around 74 hours before the price rose by 78% the next day.

The excitement for the project comes after its official renaming to eCash, which also included a token revaluation that increased the circulating supply from $ 21 million to $ 21 trillion.

Related: Bitcoin price surpasses $ 50,000, stocks slide after disappointing US job advertisement

XYO Network benefits from a new collaboration

The XYO network is a decentralized network of devices that anonymously collect, validate and record geodata in the XYO blockchain.

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

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

As can be seen in the graph above, the VORTECS ™ Score for XYO started rising on September 1st, hitting a high of 77 about seven hours before the price rose 285% the next day.

This price hike comes after the XYO community increased its visibility on September 1st after CoinApp launched a campaign that allows users to earn XYO tokens for participating in a case study to use.

The total market cap of the cryptocurrency is now $ 2.289 trillion and the dominance of Bitcoin is 41.5%.

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.