As the price of Bitcoin fell to $40,000, altcoins and DeFi tokens pushed up


Bitcoin (Bitcoin) The price has recovered from the recent low of $37,500, and the return of digital assets to the $40,000 mark has stimulated bullish activity in many altcoins.

Data from Cointelegraph Markets Pro and Transaction view XYO Network (XYO), Saffron Finance (SFI) and Quant (QNT) showed the biggest gains in the past 24 hours.

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

Table of Contents

XYO/USD

In the past 24 hours, XYO Network, a location-based data network that uses blockchain to track and record location information, has risen 72%.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for XYO began to be discovered on August 2.

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 XYO price. source: Cointelegraph Markets Pro

As shown in the figure above, XYO’s VORTECS™ score began to record in green on August 1, and climbed to a high of 71 on August 2, approximately 22 hours before its price rose by 72%.

The growth seen in XYO follows the trailer announcement The developers are working on “major changes to improve the way coins work”.

SFI/USD

Saffron.finance also rose by 20%, which is the trend of many DeFi tokens today.

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

As shown in the graph above, the VORTECS™ Score rose to the green zone and reached a high of 75 on August 1, approximately 55 hours before its price rose by 20% the next day.

In the past week, as community members prepare to publish Saffron v2 This will provide permanent SFI collateral and expanded price protection.

related: The comment of the Chairman of the US Securities and Exchange Commission increased the price of Bitcoin by 2%, and Bitcoin hit a high of 39,000 US dollars

Quantity/USD

Quant (QNT) is an interoperability-focused project that aims to help enterprises integrate and operate distributed ledger technology. It has also risen today. The data comes from Cointelegraph Markets ProFor some time, QNT’s market conditions have been favorable.

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

As shown in the graph above, QNT’s VORTECS™ score has been in the green state for most of the past week and reached a high of 79 on August 3, just seven hours before its price rose by 25%.

Since it was announced on July 30 that the token will be listed on the Binance exchange, the bullish momentum of QNT has been on the rise, and the NewsQuakes™ alert system registered this development again on July 28 and July 30.

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