The long-held belief that the crypto market would experience a collapse in December has been proven false. For the past week, most cryptocurrencies are under sell pressure. Bitcoin (BTC), however, is having difficulty trading above $47,000.
Despite this, cryptocurrency investors are not in bad shape as several altcoins have seen double-digit gains thanks to protocol upgrades and new exchange listings.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that Flux (FLUX), SafePal(SFP), and Badger DAO/BADGER were the largest gainers in the last 24-hours.
FLUX gains from the “Binance bump”.
Flux is a GPU-mineable proof-ofwork protocol that aims to create a scalable, decentralized cloud infrastructure for Web3.0 applications.
VORTECS(tm), data from Cointelegraph Markets Pro and the NewsQuakes ™ alerts began to detect a bullish outlook on FLUX on December 9, 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. FLX price. Source: Cointelegraph Markets Pro
The chart shows that the NewsQuake(tm), which alerted FLUX on December 9, was less than an hour prior to the price spike of 150% the following day.
FLUX’s rapid price increase was caused by Binance’s announcement of listing FLUX tokens on its platform. FLUX prices rose to $4.01 shortly after the announcement.
SafePal now supports nine additional networks
SafePal is a software and hardware wallet that allows investors to hold assets on Tron, Binance Smart Chain, and Ethereum networks.
Cointelegraph Markets Pro and TradingView data show that SFP prices have risen 45.84% since Dec. 6 when they were at $1.55. They reached a daily high of $2.27 on December 10th. The spike in trading volume of 50% to $158million has seen SFP’s 24-hour trading volume rise to 50%.
SFP/USDT 4-hour chart. Source: TradingView
SFP’s strength is growing as the project released an updated version its wallet app, which added support for Cardano and Nervos Networks, Avalanche and Fantom, HECO chain, Songbird and BOBA Networks, Optimism, Arbitrum, and Fantom.
Related: A trader who claimed 2017 Bitcoin price crash raised concerns about a ‘double top.
Badger DAO is ready to reactivate smart contracts
Badger DAO, an open-source autonomous organization focusing on the development of products and infrastructure to increase the utility Bitcoin’s in the decentralized financial landscape, is a Badger DAO.
Data from Cointelegraph Markets Pro showed that VORTECS(tm), a data service of Cointelegraph Markets Pro, began to identify a bullish outlook on BADGER in December 9, before the recent price rise.
VORTECS(tm), Score (green), vs. BADGER Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for BADGER spiked to the green zone. It reached a peak of 75 on December 9, just three hours after the price rose 48%.
BADGER’s positive price action comes as the protocol attempts to rebound from the Dec. 2 exploit which caused the project’s smart contract to be halted.
The total cryptocurrency market is now worth $2.218 trillion. Bitcoin’s dominance rate at 40.7% is also noteworthy.
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Eileen Wilson –Technology and Energy
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