The charts turned green as the price of Bitcoin (BTC) rose to $ 32,858, but a number of analysts also warned that the market may not be out of whack yet.
Data from Cointelegraph Markets Pro and TradingView shows that the top movers for the past 24 hours have been Telcoin (TEL), Polygon (MATIC), and Axie Infinity (AXS), suggesting the rebound is widespread, and not just on Large-cap cryptocurrencies is limited.
Top 7 coins with the highest 24 hour price change. Source: Cointelegraph Markets Pro
As can be seen in the list above, the top performing tokens represent a wide variety of cryptocurrency subsectors, including non-fungible tokens, artificial intelligence, and decentralized finance projects.
Telcoin secures new trading pairs on QuickSwap
Telcoin (TEL), a blockchain protocol focused on sending and receiving mobile-based global transfers, has been the front runner for the past 24 hours.
TEL / USDT 4-hour chart. Source: TradingView
TEL rose 71% from a low of $ 0.0091 on July 20 to an intraday high of $ 0.0158, while its 24-hour trading volume rose 136% to $ 43 million.
Interest in the project increased noticeably after the introduction of “DeFi agents” in the Fetch protocol to help users manage their liquidity and protect them from temporary losses or rug pulls.
MATIC price goes up after Polygon Studios release
The token with the second best performance on the 24-hour charts is Polygon (MATIC), the popular Layer 2 solution for the Ethereum (ETH) network, which saw a significant increase in acceptance in the first half of 2021 .
VORTECS ™ data from Cointelegraph Markets Pro began to see a bullish outlook for MATIC on July 20, ahead of the recent price hike.
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, trading volume, current price movements and Twitter activity.
VORTECS ™ Score (green) vs. MATIC price. Source: Cointelegraph Markets Pro
As can be seen in the graph above, the VORTECS ™ Score for MATIC first turned green on July 19th and climbed to a high of 77 on July 20th when the price hit a low of $ 0.62 just an hour before the price rose 52% in the next 29 hours.
The rising momentum for Polygon is in large part due to the release of Polygon Studios, the “new arm of the protocol for the blockchain gaming and NFT ecosystem”.
connected: Trading company of richest crypto billionaire announces that he is buying “a lot more” Bitcoin under $ 30,000
AXS is gaining momentum again
The third best performer over the past 24 hours was Axie Infinity (AXS), an NFT-focused protocol that grew more than 1,000% over the past month thanks to increased user activity and the income opportunities it offers users in economically disadvantaged countries.
According to data from Cointelegraph Markets Pro, market conditions have been favorable for AXS for some time.
VORTECS ™ Score (green) vs. AXS price. Source: Cointelegraph Markets Pro
As can be seen in the graph above, the VORTECS ™ Score for AXS has been increasing for most of the past week, hitting a high of 77 on July 20th, about an hour before the price rose 46% over the next sixteen hours. The AXS price is currently trading at $ 18.
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