The cryptocurrency market as soon as once more entered a interval of uncertainty on Aug. 18 as the value of Bitcoin (BTC) struggled to seek out momentum under $46,000 and large-cap altcoins pulled again barely.
A number of initiatives did handle to buck the development and submit double-digit features due to cross-chain integrations and protocol upgrades that excited their respective communities and offered merchants with lower-fee Ethereum community options.
Information from Cointelegraph Markets Professional and TradingView exhibits that the largest gainers over the previous 24-hours had been Quant (QNT), Arweave (AR) and Avalanche (AVAX).
AR continues its scorching streak
Arweave’s AR token has been one of many top-performing cash over the previous week, with exercise on the decentralized storage community continuing to set new record-highs in every day transactions.
VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for AR on Aug. 14, previous to the current worth rise.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mix of information factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for Arweave was elevated into the inexperienced zone earlier within the week and reached a excessive of 71 on Aug. 14, round 19 hours earlier than the value of AR elevated 106% over the subsequent 4 days.
QNT rallies 33%
The enterprise-focused Quant protocol makes a speciality of facilitating interoperability throughout separate blockchain networks, and on Aug. 18, the QNT token posted its second-largest achieve, in line with knowledge from Cointelegraph Markets Professional.
Information from TradingView exhibits that after hitting a low of $149.61 on Aug. 17, the value of QNT rallied 33% to an intraday excessive at $200.18 on Aug. 18 as its 24-hour buying and selling quantity spiked 436% to $179 million.
Momentum for the mission has been on the uptrend for the reason that formation of the Quant Developer program designed to assist entice new builders to the mission’s ecosystem.
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Avalanche integrates with Aave and Curve
Avalance is a layer-one blockchain protocol that claims to be the “quickest good contracts platform within the blockchain trade, as measured by time-to-finality.” The mission additionally boasts having “essentially the most validators securing its exercise of any proof-of-stake protocol.”
Information from TradingView exhibits that after falling to a low of $21.44 early on Aug. 18, the value of AVAX surged 33% to an intraday excessive at $28.47 as its 24-hour buying and selling quantity spiked 50% to $1 billion.
The mission acquired a lift on Aug. 18 following the announcement that Avalanche had partnered with Aave and Curve to create a $180 million liquidity mining incentive program referred to as “Avalanche Rush.”
Based on the announcement, the purpose of this system is to “carry blue-chip DeFi purposes to Avalanche, beginning with two in style protocols, Aave and Curve.”
The general cryptocurrency market capitalization now stands at $1.961 trillion, and Bitcoin’s dominance fee is 43.9%.
The views and opinions expressed listed here are solely these of the writer and don’t essentially mirror the views of Cointelegraph. Each funding and buying and selling transfer includes threat, and it’s best to conduct your personal analysis when making a call.
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