Home Cryptocurrency Altcoins pump while traders anticipate a lower support test from Bitcoin

Altcoins pump while traders anticipate a lower support test from Bitcoin

by Serge Shlykov

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Für jeden Teil der Filmindustrie müssen wir mehr tun: unsere Drehbücher schreiben, in Theaterstücken mitspielen, Regisseure, Schauspieler, Models, Fotografen und Designer werden. Wir müssen all das Wissen, das wir im Unterricht gelernt haben, in die Praxis umsetzen, um immer bessere Ergebnisse zu erzielen.. Read more about bitcoin price prediction and let us know what you think.

Bulls and bears are fighting for possession of the $40,000 mark in Bitcoin (BTC), and dovish statements from US Federal Reserve Chair Jerome Powell indicate that lax monetary policies will continue for the foreseeable future.

In general, the crypto community is “cautiously optimistic” about future price increases as the impact from China’s miner purge fades and displaced miners set up shop in other nations, resulting in a recovery in the Bitcoin hash rate.

While Bitcoin’s pace has halted, data from Cointelegraph Markets Pro and TradingView reveals that many altcoins have risen more than 30% on the 24-hour chart, headed by THORChain (RUNE), Quant (QNT), and Perpetual Protocol (PERP).

Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.

RUNE/USD

THORChain, a decentralized liquidity protocol that enables the exchange of cryptocurrencies across different networks while enabling token holders to maintain complete custody of their assets, has had the best performance over the last 24 hours.

Prior to the current price increase, VORTECSTM data from Cointelegraph Markets Pro started to indicate a positive prognosis for RUNE on July 24.

The VORTECSTM Score is an algorithmic assessment of past and present market circumstances generated from a mix of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is unique to Cointelegraph.

Altcoins pump while traders anticipate a lower support test from BitcoinRUNE pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.

The VORTECSTM Score for RUNE initially soared to a high of 85 on July 24, then drew down somewhat over the following two days, peaking at 75 on July 26, approximately 18 hours before its price started to rise 65 percent over the next two days, as seen in the chart above.

The RUNE price has been pounded in recent weeks after a series of protocol vulnerabilities that resulted in $7.6 million in money being siphoned off the platform, but the impact seems to have eased.

QNT/USD

Quant (QNT), a project focusing on interoperability across various blockchain networks, was the second-largest gainer in the last 24 hours.

Market conditions for QNT have been good for some time, according to data from Cointelegraph Markets Pro.

Altcoins pump while traders anticipate a lower support test from BitcoinThe VORTECSTM Score (green) is compared to the QNT pricing. Cointelegraph Markets Pro is the source of this information.

The VORTECSTM Score for QNT started to rise on July 25 and reached a peak of 81 approximately 24 hours later, before the price rose by 75 percent over the following two days, as seen in the chart above.

The news from Binance that it will be listing QNT was detected by the NewsQuakeTM alert system just as its price started to climb substantially from $96 to an intraday high of $144.75.

Since January, the number of cryptocurrency users has risen to almost 200 million, according to a study.

PERP/USD

Today also saw the launch of Perpetual System, a decentralized perpetual contracts protocol with an on-chain DEX and up to 10x leverage.

Prior to the current price increase, VORTECSTM data from Cointelegraph Markets Pro started to identify a positive prognosis for PERP on July 25.

Altcoins pump while traders anticipate a lower support test from BitcoinPERP pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.

The VORTECSTM Score for PERP rose into the green on July 25 and to a high of 79 early on July 26, approximately 24 hours before the price surged by 52 percent over the following two days, as seen in the chart above.

Following the introduction of Curie, a second version of the Perpetual Protocol, PERP is gaining traction.

The author’s thoughts and opinions are entirely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.

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