While Bitcoin looks for support, Quant, Arweave, and Avalanche are soaring.


Bitcoin's bullish momentum is fading, but it didn't stop QNT, AR, and AVAX from posting double-digit gains today. On Aug. 18, the cryptocurrency market entered another period of uncertainty, as Bitcoin (BTC) failed to find impetus below $46,000 and large-cap altcoins retreated somewhat.

Several projects defied the trend and gained double digits as a result of cross-chain integrations and protocol enhancements that enthralled their own communities and supplied traders with lower-cost Ethereum network options.

Quant (QNT), Arweave (AR), and Avalanche (AVL) were the top gainers in the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (AVAX).

AR's hot streak continues.

Over the last week, Arweave's AR token has been one of the best-performing coins, with daily transactions on the decentralized storage network continuing to reach new highs.

Before the latest price spike, VORTECSTM statistics from Cointelegraph Markets Pro began to detect a favorable prognosis for AR on Aug. 14.

The VORTECSTM Score is an algorithmic assessment of history and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is exclusive to Cointelegraph.

The VORTECSTM Score for Arweave was lifted into the green zone earlier this week, reaching a high of 71 on Aug. 14, roughly 19 hours before the price of AR surged 106 percent over the next four days, as shown in the chart above.

The stock of QNT has increased by 33%.

According to statistics from Cointelegraph Markets Pro, the enterprise-focused Quant protocol specializes in allowing interoperability across different blockchain networks, and the QNT token registered its second-largest gain on Aug. 18.

According to TradingView data, after hitting a low of $149.61 on Aug. 17, the price of QNT surged 33% to an intraday high of $200.18 on Aug. 18, with a 436 percent increase in 24-hour trading volume to $179 million.

Avalanche works with both Aave and Curve.

Avalance is a layer-one blockchain technology that claims to be the world's "fastest smart contracts platform, as measured by time-to-finality." The project also claims to have “the most validators of any proof-of-stake protocol securing its activity.”

According to TradingView data, after plunging to a low of $21.44 early on Aug. 18, the price of AVAX soared 33 percent to an intraday high of $28.47, with a 50 percent increase in 24-hour trading volume to $1 billion.

The project received a boost on Aug. 18 when Avalanche announced a $180 million liquidity mining incentive scheme named "Avalanche Rush" in collaboration with Aave and Curve.

The program's purpose, according to the release, is to "bring blue-chip DeFi applications to Avalanche, beginning with two popular protocols, Aave and Curve."

The total market capitalization of cryptocurrencies is currently $1.961 trillion, with Bitcoin commanding 43.9 percent of the market.

Share:

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Hot Topic

Elon Musk was told by Jack Dorsey that Twitter should include a "Like Signal" protocol.

Elon Musk wonders over possible variations of the social network in a string of text messages. Former CEO and co-founder of the birdsite Jac...

counter, at the bottom of the page, in a table, div or under a menu.