On September 16, altcoins continued to record significant gains, as a series of celebrity endorsements, major investments, and the increasing popularity of cross-chain bridges attracted the attention of investors.
Data from Cointelegraph Markets Pro with Transaction view Show that the biggest gains in the past 24 hours are Audius (AUDIO), Avalanche (AVAX) and Celer Network (CELR).
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Superstar invests in Audius
The Audius platform is a decentralized music sharing and streaming protocol designed to eliminate middlemen from the music industry and allow fans, subscribers and creators to interact directly with each other.
According to the data from Cointelegraph Markets ProFor some time, AUDIO’s market conditions have been very favorable.
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, AUDIO’s VORTECS™ score has been green for most of the past week and reached a high of 77 on September 14, approximately 22 hours before the price rose by 38% the next day.
Before the price and transaction volume of AUDIO soared, several well-known musicians including Katy Perry, Nas and The Chainsmokers had participated in Audius’ strategic financing of USD 5 million.
Avalanche benefits from a US$230 million investment
Avalanche (AVAX) is a first-layer protocol. It gained attention in 2021 due to its low-fee environment and the launch of the “Avalanche Rush” incentive program, which attracted investors and liquidity in Ethereum (Ethereum) The internet.
According to the data from Cointelegraph Markets ProFor some time, AVAX’s market conditions have also been very favorable.
As shown in the figure above, AVAX’s VORTECS™ score soared to the green area on September 13 and reached a high of 86 in the 24 hours or so before the price rose by 40% in the next two days.
After announcing the participation of large funds such as Polychain Capital, Three Arrows Capital and Dragonfly Capital $230 million investment round To the avalanche ecosystem.
Celer Network sees a surge from its bridge to Arbitrum
Celer Network is a second-layer scaling solution that uses off-chain transaction processing to help improve the scalability and transaction throughput of its network.
VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, the outlook for CELR began to be found to be bullish on September 14.
As shown in the graph above, CELR’s VORTECS™ score soared to the green zone and reached a high of 73 on September 14, when prices started to rise by 59% in the next two days.
As investors use Celer Bridge to migrate tokens from multiple blockchains (including the newly launched Arbitrum solution), the demand for CELR increases. Celer’s bridge also provides users with a way to solve the current 7-day withdrawal process required to remove assets from Arbitrum.
The overall market value of cryptocurrencies is now $2.161 trillion, and Bitcoin’s dominance rate is 41.4%.
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