Sentiment in the cryptocurrency market is on the rise after small gains in Bitcoin (BTC) and altcoins hint that the market could be in the process of breaking out to the upside.
A handful of altcoins are also gaining momentum and a round of new partnership announcements appears to support the 40% gains seen in select assets on April 21.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers in the last 24 hours were Steem (STEEM), TrustSwap (SWAP), and 0x (ZRX).
Binance STEEM Lists
Steem, the community-focused blockchain network, is the underlying chain of the Steemit social media platform, which allows users to earn rewards for their posts and interactions within the community.
Data from Cointelegraph Markets Pro and TradingView shows that STEEM price hit a low of $0.344 on April 20 and then surged 77.16% to hit a daily high of $0.61 on April 21 as its trading volume exploded. 24 hours.
The sudden burst in momentum and trading volume for STEEM follows an announcement from the Binance exchange that it was adding support for the STEEM/USDT trading pair.
TrustSwap operations on Bithumb
TrustSwap is a decentralized finance protocol that specializes in creating multi-chain token swaps and offers a host of other features including staking, the ability to mint new tokens, and an internal launchpad.
Cointelegraph Markets Pro’s VORTECS™ data began spotting a bullish outlook for SWAP on April 16, prior to the recent price surge.
Exclusive to Cointelegraph, the VORTECS™ Score 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.
As seen in the chart above, the VORTECS™ score for SWAP rose into the green zone and reached a high of 75 on April 16, around 65 hours before the price rose 120.96% over the next three days. .
The rally in SWAP price follows a new listing on South Korean cryptocurrency exchange Bithumb and an increased effort to commercialize the protocol’s minting module, which allows users to easily create a cryptocurrency and launch it on BNB Smart Chain. as well as on Ethereum and Polygon. block chains
Related: Coinbase Plans to Buy Crypto Exchange BtcTurk in $3.2B Deal: Report
0x partners with Coinbase
ZRX is a decentralized exchange infrastructure protocol that specializes in facilitating the trading of assets on the Ethereum blockchain without the need to rely on centralized intermediaries.
Cointelegraph Markets Pro’s VORTECS™ data began spotting a bullish outlook for ZRX on April 19, prior to the recent price surge.
As shown above, the VORTECS™ score for ZRX peaked at 75 on April 19, just one hour before its price began rising 71.56% over the next two days.
The rapid rise in ZRX price came on the heels of an announcement that Coinbase had partnered with 0x to power its new social marketplace for non-fungible tokens, or NFTs.
The total cryptocurrency market capitalization is now $1.94 trillion and the dominance rate of Bitcoin is 41.3%.
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 trading move involves risk, you should do your own research when making a decision.