Altcoins continued to enjoy notable gains on September 16 due to a number of celebrity endorsements and major investments. Investors’ attention is also drawn to the popularity of cross-chain bridges.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that the largest gainers in the last 24 hours were Audius, Avalanche and Celer Network (CELR).
Audius is a favorite of stars
Audius is a music-sharing and streaming platform that decentralizes the industry. It allows creators, fans and subscribers to interact directly with one another.
Cointelegraph Markets Pro data shows that the market conditions for AUDIO are favorable over time.
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. AUDIO price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for AUDIO was green for the majority of the week. It reached a peak of 77 on September 14, just 22 hours before the price rose 38% the following day.
The announcement that several well-known artists, including Katy Perry and The Chainsmokers, had participated in a $5 Million strategic funding round for Audius led to a spike in AUDIO’s price and trading volume.
Valanche benefits from $230 million investment round
Avalanche (AVAX), a layer-one protocol, has gained traction in 2021 due to its low fees environment and the launch “Avalanche Rush”, which attracted liquidity and investors from the Ethereum network (ETH).
Cointelegraph Markets Pro data shows that the market conditions for AVAX are also favorable.
VORTECS(tm), Score (green), vs. AVAX Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for AVAX surged to the green zone on September 13th and hit a peak of 86 just 24 hours later. This was before the price rose 40% over the next two weeks.
Avalanche ecosystem was announced as a $230 million investment round. This has led to a significant price increase and momentum.
Celer Network experiences a surge in traffic from its bridge with Arbitrum
Celer Network is a layer-2 scaling solution that utilizes off-chain transaction handling in order to improve the network’s scalability.
Data from Cointelegraph Markets Pro VORTECS(tm), began to detect a bullish outlook on CELR on September 14, before the recent price rise.
VORTECS(tm), Score (green), vs. CELR Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for CELR spiked to the green zone. It reached a peak of 73 on September 14, as the price increased by 59% in the following two days.
Investors are using the Celer bridge to migrate tokens from multiple blockchains including the recently launched Arbitrum solution. This has led to an increase in CELR demand. Celer’s bridge offers users an alternative to the seven-day withdrawal process that is currently required to remove assets in Arbitrum.
The total cryptocurrency market is now worth $2.161 trillion, and Bitcoin is the dominant currency at 41.4%.
com. You should do your research before making any investment or trading decision.
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