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Traders Seek Big Profits In Altcoins As Bitcoin Price Consolidates




Optimism in the cryptocurrency ecosystem continues to grow on August 16, as several altcoins made double-digit gains and the bulls of Bitcoin (BTC) defended the support level of $ 46,000.

Data of Cointelegraph Markets Pro Y TradingView show that the tokens with the highest earnings in the last 24 hours were Solana (SOL), Presearch (PRE) Y Arweave (AR).

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

Solana reaches a new all-time high

In the last 24 hours, SOL price spiked to a new high of $ 69.13, since the enthusiasm for the new decentralized exchange (DEX), Mango Markets, of the protocol helped increase the demand for SOL.

VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for SOL on August 11, ahead of the recent price spike.

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. SOL price. Source: Cointelegraph Markets Pro

As seen in the graphic above, Solana’s VORTECS ™ score climbed into the green zone on August 10 and peaked at 77 on August 11, about 4 days before its price increased 62% the following day.

Presearch shoots up

The project Presearch is a blockchain-based search engine that is community-driven and offers a decentralized search engine that allows users to search privately and rewards them for their activity.

VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for PRE on August 14, ahead of the recent price rally.




VORTECS ™ Score (green) vs. PRE price. Source: Cointelegraph Markets Pro

As seen in the graphic above, the VORTECS ™ score for PRE jumped into the green zone on August 13 and peaked at 70 on August 14, about 26 hours before the price soared 102% the following day.

Arweave gains 32%

Arweave is a decentralized storage network using a new type of storage that backs up data with “perpetual and sustainable endowments” that allow users and developers to store data forever.

According to data from Cointelegraph Markets Pro, market conditions for AR have long been favorable.

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

As seen in the graphic above, the VORTECS ™ score for AR was green for most of the past week and peaked at 72 on August 14, about 30 hours before the price increased 65% the next day.

Enthusiasm for the project has been on the rise over the last week, as daily transactions on the network reached repeatedly new all-time highs.

The total capitalization of the cryptocurrency market currently stands at USD 2.005 trillion and the dominance index of Bitcoin is 43.5%.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph. Each investment and trade movement involves a risk, you must carry out your own research when making a decision.

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TAMMY SEWELL
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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