Altcoins have skyrocketed, and traders expect lower support tests for Bitcoin

Bitcoin (Bitcoin) The bulls are locked in a battle with the bears to control the $40,000 level. The dovish comments of Fed Chairman Jerome Powell indicate that loose monetary policy will Stay as it is for the foreseeable future.

Generally speaking, the crypto ecosystem is “Cautiously optimistic“As the impact of the washout of Chinese miners begins to fade, and displaced miners begin to establish mining operations in other countries, prices will rise further, leading to Bitcoin hash rate rebounds.

Data from Cointelegraph Markets Pro and Transaction view It shows that although the momentum of Bitcoin has slowed down, under the leadership of THORChain (RUNE), Quant (QNT) and Perpetual Protocol (PERP), some altcoins have risen by more than 30% on the 24-hour chart.

The top 7 tokens with the largest price changes in 24 hours. source: Cointelegraph Markets Pro

Rune/dollar

The best performer in the past 24 hours is THORChain, a decentralized liquidity protocol that facilitates the exchange of cryptocurrencies across multiple networks while allowing token holders to retain full custody of their assets.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for RUNE began to be discovered on July 24.

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.

VORTECS™ score (green) and RUNE price. source: Cointelegraph Markets Pro

As shown in the figure above, RUNE’s VORTECS™ score soared to a high of 85 for the first time on July 24, then fell back slightly in the next two days, and hit a record of 75 on July 26 (about 18 hours before its price started) The high level rose 65% in the next two days.

A series of protocol loopholes have caused the price of RUNE to be hit hard in recent weeks $7.6 million in funds It was drained from the platform, but it seems that the impact from this has now subsided.

New Zealand Dollar/U.S. Dollar

The second biggest winner in the past 24 hours is Quant (QNT), a project focused on interoperability between different blockchain networks.

According to data from Cointelegraph Markets Pro, QNT’s market conditions have been around for some time.

VORTECS™ score (green) and QNT price. source: Cointelegraph Markets Pro

As shown in the figure above, QNT’s VORTECS™ score began to rise on July 25, and reached a high of 81 approximately 24 hours before the price rose by 75% in the next two days.

NewsQuake™ alert system received the news that Binance announced that it would go public before the price of QNT began to rise sharply from $96 to an intraday high of $144.75.

related: The report states that since January, cryptocurrency users have doubled to more than 200 million

Per capita/USD

Perpetual Protocol, a decentralized perpetual contract agreement, including an on-chain DEX and leverage of up to 10 times, also broke out today.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for PERP on July 25, before the recent price increase.

VORTECS™ score (green) and PERP price. source: Cointelegraph Markets Pro

As shown in the graph above, PERP’s VORTECS™ score climbed to green on July 25, and reached a high of 79 early on July 26, approximately 24 hours before the price rose by 52% in the next two days.

The power behind PERP comes from release The second version of the Curie Agreement.

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