Bitcoin (BTC) is on the verge of closing one other week that noticed the price dip nearer to $30,000 however the identical bearish commentary can’t be made for all altcoins. On Friday, a number of smaller-cap altcoins managed to shake off the bearish assault and post-double-digit positive factors earlier than conventional markets closed for the weekend.
Knowledge from Cointelegraph Markets Professional and TradingView reveals that the highest movers over the previous 24 hours had been NEM (XEM), Augur (REP) and district0x (DNT).
High 7 cash with the very best 24-hour price change. Supply: Cointelegraph Markets Professional
It is price noting that 4 of the highest seven gainers are layer-one protocols, an attention-grabbing improvement that comes at a time when Ether’s (ETH) price is struggling below the $2,000 stage and the group anxiously waits to see if the upcoming London laborious fork improves Ether price and the method of transacting on the community.
Knowledge from Cointelegraph Markets Professional and TradingView reveals that after a month the place the typical 24-hour buying and selling quantity for NEM was $50 million, demand for the token surged on July 16 as the amount elevated to $532 million and the price rallied 35% to $0.151.
XEM/USDT 4-hour chart. Supply: TradingView
The uptick in price follows the July 13 announcement that Image (XYM), an enterprise blockchain protocol developed by the NEM group, had agreed to a collaborative mission with the federal government of Colombia.
In response to information from TradingView, REP price started to surge on July 13 after the 24-hour buying and selling quantity spiked from a every day common of $17 million to greater than $521 million on July 14.
REP/USDT 4-hour chart. Supply: TradingView
Because of the sudden enhance in buying and selling quantity, the price of REP rallied 57% from a low of $14.60 on July 13 to an intraday excessive at $22.97 on July 16.
While there isn’t any readily identifiable trigger for the sudden enhance in curiosity, a scroll by way of the Augur’s Twitter feed reveals that forecasting on the community stays lively with the latest polls asking “Who would win the 2021 Major League Baseball Home-run derby?” and “Who will win the Ultimate Fighting Championship fight between Connor McGregor and Dustin Poirier?”
Associated: Cardano grows nearer to launching good contracts with new testnet
The third-largest gainer on July 16 was Distric0x, a protocol that payments itself as a “community of decentralized markets and communities” and focuses on serving to customers launch their very own decentralized autonomous organizations (DAO).
DNT/USDT 4-hour chart. Supply: TradingView
Knowledge from Cointelegraph Markets Professional and TradingView reveals that DNT’s buying and selling quantity spiked from $3 million to greater than $60 million on Friday, which led to a 73% rally from $0.112 to an intraday excessive at $0.193.
On the time of writing the price of DNT had since retraced to $0.133 which represents a 17.35% acquire on the day.
The views and opinions expressed listed here are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, it is best to conduct your personal analysis when making a call.