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Altcoins Post 50% Gains After Bitcoin and Ethereum Marked Path to New Highs

Bullish momentum across the cryptocurrency market continued to build on September 3 as an overall market rally lifted the prices of most altcoins and propelled Bitcoin (BTC) and Ether (ETH) above their respective levels. resistance at $ 51,000 and $ 4,000.

Observed activity in the altcoin market shows no signs of slowing down and various altcoins gained more than 30% on Friday.

The 7 coins with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView show that the best performing tokens in the last 24 hours were Polymath (POLY), Bitcoin Cash ABC (BCHA) and XYO Network.

Polymath rebounds as the launch of its main network “Polymesh” nears

Polymath is an Ethereum-based project focused on managing digital assets.

Data from Cointelegraph Markets Pro and TradingView shows that, After hitting a low of $ 0.345 on September 1, POLY’s price surged 56% to hit an intraday high of $ 0.54 on September 3, when its 24-hour trade volume soared 2.040%.

POLY / USD 4-hour chart. Source: TradingView

The project’s sudden boost comes after the September 1 update of Polymesh’s incentivized testnet, which brings the project one step closer to the full launch of its primary network.

Bitcoin Cash ABC changes its name to eCash

Bitcoin Cash ABC, a hard fork of Bitcoin Cash (BCH), recently changed its name to as eCash (XEC).

The VORTECS ™ score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trade volume, recent price movements, and Twitter activity. .

VORTECS ™ score (green) vs. BCHA price. Source: Cointelegraph Markets Pro

As seen in the graphic above, BCHA’s VORTECS ™ score jumped into the green zone on August 29 and peaked at 81 on August 30, about 74 hours before its price rose 78% the next day.

The enthusiasm for the project comes after its official name change to eCash, which also included a new evaluation of the tokens that increased the maximum supply from 21 million to 21 trillion.

XYO Network benefits from a new collaboration

XYO Network is a decentralized network of devices that anonymously collect and validate geospatial data and record it on the XYO blockchain.

According to data from Cointelegraph Markets Pro, market conditions for XYO have been favorable for some time now.

VORTECS ™ score (green) vs. XYO price. Source: Cointelegraph Markets Pro

As seen in the graph above, XYO’s VORTECS ™ score began to rebound on September 1, peaking at 77 around seven hours before the price rose 285% the following day.

This price spike comes after the XYO community received a boost to its visibility on September 1 when CoinApp He launched a campaign that allowed users to earn XYO tokens for participating in a case study in the application.

The total cryptocurrency market capitalization currently stands at $ 2.289 trillion and Bitcoin’s dominance rate is 41.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves risks, you must do your own research when making a decision.

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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