WAX, Gnosis and IOST pack on features after Bitcoin value hits $50K
The bull market narrative has returned now that Bitcoin (BTC) value managed to briefly climb above $50,500 on August 23.
A handful of altcoins have additionally seen their costs cost larger because the momentum within the market continues to construct. For many tokens, the value has been buoyed by new exchange listings and cross-protocol collaborations which have introduced a brand new stage of exercise and a focus to their ecosystems.
Data from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24-hours had been WAX (WAXP), Gnosis (GNO) and IOST (IOST).
WAX advantages itemizing on Binance
The high performer on the 24-hour chart is WAX, a delegated proof-of-stake (DPoS) blockchain protocol that claims to supply the “world’s most proven and eco-friendly blockchain for NFTs, video games and collectibles.”
Data from Cointelegraph Markets Pro and TradingView reveals that after hitting a low of $0.161 on Aug. 19, the value of WAXP surged 242% to an intraday excessive at $0.55 on Aug. 23 as its 24-hour buying and selling quantity rose 21,756% to $2.24 billion.
According to the NewsQuakes™ alert system from Cointelegraph Markets Pro, the sudden spike in value got here after Binance introduced that it could checklist WAXP.
Gnosis surges after a partnership announcement
Gnosis, an Ethereum-based decentralized prediction market pushed larger after revealing that the workforce had joined the ZK Open Legal Working Group to create “legal clarity around the use of ZKPs to unleash their full potential for privacy and scaling applications.”
VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for GNO on Aug. 19, previous to the current value rise.
The VORTECS™ Score, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mixture of information factors together with market sentiment, buying and selling quantity, current value actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Score for GNO has been elevated for a while and reached a excessive of 78 on Aug. 19, round 6 hours earlier than its value elevated by 26% over the subsequent 4 days.
IOST’s staking competitors attracts traders
IOST is a decentralized blockchain community that makes use of a novel consensus protocol known as “proof-of-believability” to validate transactions at a better pace than competing networks.
VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for IOST on Aug. 22, previous to the current value rise.
As seen within the chart above, the VORTECS™ Score for IOST started to register inexperienced on Aug. 21 and climbed to a excessive of 72 on Aug. 22, round 8 hours earlier than its value elevated by 29%.
Activity for the blockchain has been on the rise due to an ongoing staking competitors executed together with Moonstake which provides a high prize of 15,500 IOST tokens.
The total cryptocurrency market cap now stands at $2.139 trillion and Bitcoin’s dominance price is 43.5%.
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