Wednesday, September 28

Presearch, Frontier and Algorand Post Double Digit Gains as Altcoins Soar


On Thursday, the bulls got a solid performance as Algorand (ALGO) and Solana (SOL) scrambled to new highs even as Bitcoin (BTC) continues to stagger below the $ 47,000 mark.

The strong performance of altcoins lends more credence to the argument that the market is in an ‘alternate season’, a phase typically characterized by rising altcoin prices when BTC is range bound.

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 beneficiaries in the last 24 hours were Presearch (PRE), Frontier (FRONT) and Algorand (ALGO).

Presearch integrates Wyre in its market

Presearch, a blockchain-based decentralized search protocol, posted a 61.3% gain in the last 24 hours and it appears that investors reacted positively to the recent addition of the project as a search engine option on Android phones.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for PRE on September 5, ahead of the recent price spike.

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. price PRE. Source: Cointelegraph Markets Pro

As seen in the graph above, the VORTECS ™ score for PRE rose to the green zone on September 5 and peaked at 71 around 84 hours before its price began to increase by 94% during the following day. .

Renewed interest in PRE comes after the platform integration with Wyre that allows users to buy PRE tokens directly through the marketplace with a credit card.

Frontier gears up to go mobile

The second biggest winner on the 24-hour chart is Frontier, a chain-independent decentralized finance aggregator that supports a number of blockchains, including Ethereum, Binance Smart Chain, and Harmony.

VORTECS ™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FRONT on September 4, ahead of the recent price spike.

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

As seen in the graph above, the VORTECS ™ score for FRONT began to rebound on September 3 and reached a high of 72 on September 4, around 48 hours before the price increased by 80% over the next three days. .

The price increase on September 9 occurs when the project abandonment a teaser video on his Twitter account hinting at “A New Frontier” for the project and provided a screenshot of the Frontier protocol interface on a smartphone.

Related: El Salvador Adoption Is ‘Coming Of Age’ For Bitcoin, Says Fidelity Executive

Something and adoption on the rise

Algorand (ALGO), a pure permissionless proof-of-stake blockchain protocol, is once again on the top performers list after hitting a new multi-year high at $ 2.48.

According to data from Cointelegraph Markets Pro, market conditions for ALGO have been favorable for some time.

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

As seen in the graph above, the VORTECS ™ score for ALGO entered the green zone at the beginning of the week and hit a high of 70 on September 4, about 3 days before the price increased by 114%.

ALGO’s continued optimism comes as the protocol prepares to unroll governance capabilities on October 1 and the project also received a large vote of confidence from the government of El Salvador after it was elected to help develop the country’s blockchain infrastructure.

The overall cryptocurrency market capitalization is now $ 2.143 trillion and Bitcoin’s dominance rate is 41.1%.

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.