Altcoins take the next leg up after Bitcoin price holds $47.5K

After a 10% rise in Bitcoin’s price (BTC), which pushed it above $47,500, bullish sentiment returned to cryptocurrency on October 1. This resulted in liquidation of over $270 million of short positions.

Altcoin markets quickly followed their lead with the majority of tokens in the top 200 recording double-digit gains each day.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

Cointelegraph Markets Pro data and TradingView show that Oasis Network, AxieInfinity (AXS), and ICON (ICX) were the largest gainers in the past 24 hours.

Oasis Network is attracted to privacy by traders because of its allure

The Oasis network is a privacy-enabled, blockchain that facilitates open finance and the creation a responsible data economy.

VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on ROSE on September 30, before the recent price rise.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (green) vs. the ROSE price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for Rose began to rise on Sept. 29, and reached a peak of 74 on September 30, just three hours before the price rose 60% in the following two days.

ROSE’s price rise is due to Ethereum (ETH), compatible networks that offer greater scalability rising in prominence. The Oasis network, which outperforms many other competitors thanks its privacy features, has caused the ROSE price spike.

xie Infinity launches staking, and sends airdrops for early adopters

AxieInfinity is a blockchain-based game that allows players the opportunity to breed, raise, fight, trade and trade token-based Axies and earn income.

Cointelegraph Markets Pro data shows that the market conditions for AXS are favorable over time.

VORTECS(tm), Score (green) vs. the AXS price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for AXS spiked to the dark green zone on September 26th and reached an all-time high of 87 just 35 hours later. This was before the price started increasing by 55% over three days.

AXS has seen a significant increase in its price since the introduction of stake capabilities for AXS owners and a community Airdrop that distributed 800,000 AXS tokens for early adopters.

Related: Axie Infinity launches AXS Staking Program for NFT Trading Game

ICON rallies ahead its mainnet upgrade

ICON is a general purpose blockchain protocol and an aggregator chain that allows for interoperability among different networks and hosts decentralized applications.

Cointelegraph Markets Pro and TradingView data show that ICX prices rallied 45% after hitting a low point of $1.38 on September 29. The price rose to $1.93 daily on Oct. 1, as the 24-hour trading volume jumped 385% to $362 millions.

Chart for ICX/USDT 4 hours Source: TradingView

Wrapped ICX was released and the price of ICX has risen. This is in accordance with the ERC-20 standard. It can be interoperable with Ethereum’s decentralized finance. This upgrade is part the protocol’s final preparations before implementing ICON 2.0 mainnet.

The total cryptocurrency market is now worth $2.079 trillion. Bitcoin’s dominance rate at 43% is also impressive.

com. You should do your research before making any investment or trading decision.

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Eileen Wilson

Eileen Wilson –Technology and Energy My Name is Eileen Wilson with more than 5 years of experience in the Stock market industry, I am energetic about Technology news, started my career as an author then, later climbing my way up towards success into senior positions. I can consider myself as the backbone behind the success and growth of topmagazinewire.com with a dream to expand the reach out of the industry on a global scale. I am also a contributor and an editor of the Technology and Energy category. I experienced a critical analysis of companies and extracted the most noteworthy information for our vibrant investor network.

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