Sunday, October 2

WAX, Gnosis, and IOST rake in profits after Bitcoin price hits $ 50K


The bull market narrative has returned now that the price of Bitcoin (BTC) managed to briefly climb above $ 50,500 on August 23.

A handful of altcoins have also seen their prices charge higher as momentum in the market continues to grow. For many tokens, the price has been driven by new exchange listings and collaborations between protocols that have brought a new level of activity and attention to their ecosystems.

Top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Cointelegraph Markets Pro data and TradingView shows that the biggest winners in the last 24 hours were WAX ​​(WAXP), Gnosis (GNO) and IOST (IOST).

WAX profit listing on Binance

The best performer on the 24-hour chart is WAX, a delegated proof-of-stake (DPoS) blockchain protocol that claims to offer the “world’s most proven and environmentally friendly blockchain for NFTs, video games, and collectibles.”

Cointelegraph Markets Pro data and TradingView shows that after hitting a low of $ 0.161 on Aug 19, WAXP price rose 242% to an intraday high of $ 0.55 on Aug 23 as its 24-hour trading volume jumped 21.756% to $ 2.24 billion.

WAXP / USDT 4-hour chart. Source: TradingView

According to Cointelegraph Markets Pro’s NewsQuakes ™ alert system, the sudden spike in price came after Binance announced that it would include WAXP.

Gnosis emerges after a partnership announcement

Gnosis, an Ethereum-based decentralized prediction marketplace, rose higher after revealing that the team had joined the ZK Open Legal Working Group to create “legal clarity around the use of ZKP to unlock its full potential for privacy and applications. escalation “.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on August 19, ahead of the recent price surge.

The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and trading activity. Twitter

VORTECS ™ score (green) vs. GNO price. Source: Cointelegraph Markets Pro

As seen in the graph above, the VORTECS ™ score for GNO has been rising for some time and peaked at 78 on August 19, around 6 hours before its price increased by 26% over the next four days. .

IOST betting competition attracts investors

IOST is a decentralized blockchain network that uses a novel consensus protocol called “proof of credibility” to validate transactions at a higher speed than competing networks.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for IOST on August 22, ahead of the recent price surge.

VORTECS ™ score (green) vs. IOST price. Source: Cointelegraph Markets Pro

As seen in the graph above, the VORTECS ™ score for IOST began to register in green on August 21 and rose to a high of 72 on August 22, about 8 hours before its price increased by 29%.

Blockchain activity has been on the rise thanks to a on going betting competition held in conjunction with Moonstake, offering a top prize of 15,500 IOST tokens.

The overall cryptocurrency market capitalization is now $ 2.139 trillion and Bitcoin’s dominance rate is 43.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trade move involves risk, you should do your own research when making a decision.