Altcoins are rising, and Bitcoin bulls have a goal of $50,000


As the price of Bitcoin rose by 4.18% to $49,163 and attracted the waiting (Bitcoin) Recover the 50,000 USD mark.

The rise in bullish momentum turned into a wave of green candles for altcoins, and most of the tokens in the top 200 recorded gains.

The top 7 tokens with the largest price changes in 24 hours. source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and Transaction view Show the biggest gains in the past 24 hours are Syscoin (SYS), TrustSwap (SWAP) and PARSIQ (PRQ).

Syscoin celebrates its seventh birthday

The best performing token in the past 24 hours is Syscoin, a platform that provides low-cost tokens, assets, and NFTs that are protected by the hash rate and censorship resistance of the Bitcoin network.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for SYS began to be discovered on August 15.

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.

VORTECS™ score (green) and SYS price. source: Cointelegraph Markets Pro

As shown in the figure above, SYS’s VORTECS™ score climbed to green on August 15 and reached a high score of 72 approximately four days before its price rose by 96%.

The sudden price surge comes as the Syscoin protocol celebrates its seventh year of operation and is preparing for the Taproot upgrade that will be launched in November.

TrustSwap became popular before its NFT dropped

TrustSwap is a distributed protocol that claims to be a “full-service digital asset ecosystem”, which is expected to bring new development to decentralized finance (DeFi). It specializes in the creation of multi-chain token exchanges and is rapidly expanding to include staking functions, the ability to mint new tokens, and an internal launchpad.

According to data from Cointelegraph Markets Pro, SWAP has been in the market for some time.

VORTECS™ scores (green) and swap prices. source: Cointelegraph Markets Pro

As shown in the graph above, SWAP’s VORTECS™ score has been in the green state for most of the past week and reached a high of 78 on August 16, approximately 68 hours before the 51% price increase the next day.

Due to the upcoming NFT drop It is scheduled to be held on August 21.

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New features excited the PARSIQ community

The blockchain-based analytics platform PARSIQ has risen by 38.53% in the past 24 hours.

Cointelegraph Markets Pro’s VORTECS™ data has detected a bullish outlook for PRQ from August 18, which is before the recent price increase.

VORTECS™ score (green) and PRQ price. source: Cointelegraph Markets Pro

As shown in the figure above, PRQ’s VORTECS™ score climbed to green on August 18 and reached a high of 71 in about 26 hours, and then its price soared by 70% the next day.

After the price has risen rapidly freed PARSIQ’s “User Defined Flow” allows projects and developers to “import their contracts and select the contract events for which they want to enable smart triggers, immediately after their contract is deployed”.

The overall cryptocurrency market value is now $2.091 trillion, and Bitcoin’s dominance rate is 43.7%.

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.