On August 25th, as the price of Bitcoin (Bitcoin) Fell to $47,360 and then rebounded from the lower support level of the ascending channel to recover the level of $48,000.
Despite the rapid turnaround, analysts remain vigilant. Well-known financial analysts John Bollinger warns investors This may be a good time to make some profit.
As decentralized finance (DeFi) and non-fungible tokens (NFT) continue to push higher, several altcoins have successfully overcome the general market downturn and achieved double-digit gains on Wednesday.
Data from Cointelegraph Markets Pro with Transaction view Showing the biggest gains in the past 24 hours are Telos (TLOS), Gnosis (GNO) and Alpha Finance Labs (ALPHA).
Telos has completed the bridge with Ethereum
The best performing token on the 24-hour chart is Telos, a scalable blockchain network created by EOSIO software that focuses on creating NFTs and smart contracts for decentralized finance, gaming, and social media.
VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for TLOS began to be discovered on August 22.
Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes and Twitter activity.
As shown in the figure above, TLOS’s VORTECS™ score turned positive from August 22, and reached a high of 71 on August 23, approximately 9 hours before its price began to rise by 45% in the next two days .
In the past week, as Telos Network prepares to release its Ethereum Virtual Machine (EVM), which will enable asset bridging between the two protocols, enthusiasm for the project has been rising.
Gnosis rally after creating DAO
Gnosis continues to see strong demand as the developers of the project turned their attention to creating a decentralized autonomous organization (DAO) called Gnosis Safe for its asset management system.
According to the data from Cointelegraph Markets ProFor some time, GNO’s market conditions have been favorable.
As shown in the figure above, GNO’s VORTECS™ score has been in the green state for most of the past week, and reached a high of 75 on August 22, approximately 8 hours before the price rose by 52% in the next two days.
related: Ethereum supply shock: Exchange ETH reserves continue to decline after a 26% drop in 2021
Protocol upgrade provides motivation for Alpha Finance Lab
Alpha Finance Lab is a DeFi protocol that provides leverage. It has always been the third largest winner on the 24-hour chart, thanks in large part to the release of Alpha Homora V2, which includes a new “designed for leveraged income farmers” Minimal function mode”.
As shown in the figure above, Alpha’s VORTECS™ score turned green for the first time on August 19, and climbed to the dark green area on August 20, reaching a high of 81. This is approximately the next three days 30 hours before the 31% increase in the price of ALPHA.
After ALPHA was selected as the annual Binance Launchpad project, the token also gained momentum on August 20. The project is the best performing project in the exchange incubator in 2021.
The overall cryptocurrency market value is now $2.091 trillion, and Bitcoin’s dominance rate is 43.8%.
The views and opinions expressed here only represent the views of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading action involves risk, and you should conduct your own research when making a decision.