Bitcoin
BTC$28 164.10

0.33%

Ethereum
ETH$1 787.94

1.35%

Tether
USDT$1.001512

0.02%

Binance Coin
BNB$324.78

-3.14%

USD Coin
USDC$0.998760

0.04%

XRP
XRP$0.444871

13.53%

Altcoins showing signs of accumulation while Bitcoin price is down


16 Jul 2021

#Bitcoin

DeFi and NFT-related tokens like GHST, CNS and TLM defied the market’s bearish mood to post double-digit gains in the past 48-hours. Crypto markets faced another day of struggle on July 15 as the price of Bitcoin (BTC) dropped to its "final support zone" near $31,000, which prompted traders to issue dire predictions about the future should bulls fail to hold this level. 

Despite the struggles facing the crypto market at large, relatively obscure altcoins like Aavegotchi (GHST), Centric Cash (CNS) and Alien Worlds (TLM) posted positive gains in the past 48-hours and appear to be in a stealth accumulation mode.

Aavegotchi volume spikes ahead of DinoSwap release

Aavegotchi (GHST) is a DeFi-focused nonfungible token (NFT) that operates on the Aave protocol and allows users to utilize in-game avatars called Gotchi’s as collateral to earn staking rewards. Data from Cointelegraph Markets Pro and TradingView shows that the price of GHST has rallied 21% from a low of $0.997 on July 14 to an intraday high at $1.21 on July 15 as its 24-hour trading volume doubled from the previous day.

A scroll through Aavegotchi’s Twitter feed indicates that the newfound enthusiasm for GHST is a result of the upcoming release of DinoSwap, a multi-chain farming protocol that helps attracts and builds liquidity on existing automated market makers (AMM).

The new way for token holders to earn an extra yield on the Polygon (MATIC) network has helped drive liquidity and trading volume higher, resulting in the price appreciation seen in GHST.

Centric Cash rallies after migrating to Binance Smart Chain

Centric Cash (CNS) is another token that has managed to post a positive gain in an otherwise red market thanks to its successful migration to the Binance Smart Chain (BSC). CNS is a dual-token protocol that offers rewards for adoption in the form of a fixed hourly yield and “stabilizes over time as it self-regulates token supply to meet ongoing changes in demand,” according to the project’s website.

The project’s migration away from the Tron blockchain to the BSC was done as a way to help increase exposure and trading volume through gaining access to the wider Binance ecosystem.

As a result of the increased attention and trading volume that CNS garnered following the migration, its price rallied 36% from a low of $0.0003 on July 14 to an intraday high at $0.00042 as traders looked to acquire tokens and supply liquidy for its launch on PancakeSwap.

Alien Worlds shows signs of accumulation

Alien Worlds (TLM) has also outperformed the field this week. The blockchain gaming platform provides a DeFi-connected NFT metaverse where users can collect and play with unique digital items in an environment that stimulates economic competition and collaboration between players. The price of TLM skyrocketed by 307% over the past week, rising from a low of $0.08 on July 9 to an intraday high at $0.33 on July 15 with a 24-hour trading volume of $884 million.

While there has not been a major protocol announcement that is readily identifiable as the cause for increased momentum, the project’s Twitter feed shows a handful of new NFT releases recently that can be earned through gameplay, as well as an announcement that the planet Binance will soon be added to the Alien Worlds ecosystem.

Overall, projects that include NFT functionality and a select few DeFi protocols continue to perform well while the large-cap projects in the crypto market are negatively impacted by Bitcoin's repeat excursions to the $31,000 level.


Related

Bitcoin retreats below $25000
Bitcoin retreats below $25000
The nice Bitcoin technique
The nice Bitcoin technique
Bitcoin falls below $20000
Bitcoin falls below $20000
Bitcoin falls below the $22000
Bitcoin falls below the $22000
Powell's speech deepens bitcoin correction
Powell's speech deepens bitcoin correction
HFM Introduces New Virtual Analyst
HFM Introduces New Virtual Analyst
Copy Trading Strategies: How to Start Successful Copy Trading
Copy Trading Strategies: How to Start Successful Copy Trading
Which Citizenship by Investment Programs are Crypto-Friendly?
Which Citizenship by Investment Programs are Crypto-Friendly?
Pressure on BTC at the $21500 level
Pressure on BTC at the $21500 level

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 75.6% 48 $28 164.10 0.33% 13.02% $544 261 794 571 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.8% 31 $1 787.94 1.35% 5.81% $218 797 673 934 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 93.2% 1 $1.001512 0.02% -0.33% $77 553 405 398 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 78% 46 $324.78 -3.14% 5.19% $51 279 077 061 BNB 7 days price change
5 USD Coin (USDC) USDC USD Coin predictions 95.6% 2 $0.998760 0.04% -0.12% $35 199 682 488 USDC 7 days price change
6 XRP (XRP) XRP XRP predictions 86.4% 15 $0.444871 13.53% 20.20% $22 666 568 541 XRP 7 days price change
7 HEX (HEX) HEX HEX predictions 64% 80 $0.103499 4.55% 25.69% $17 947 941 823 HEX 7 days price change
8 Cardano (ADA) ADA Cardano predictions 74.8% 51 $0.371437 9.28% 9.72% $12 895 992 999 ADA 7 days price change
9 Lido stETH (STETH) STETH Lido stETH predictions 95.6% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
10 Polygon (MATIC) MATIC Polygon predictions 75.2% 48 $1.14 1.42% -3.43% $9 978 105 668 MATIC 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 72.8% 55 $0.074846 3.43% 1.71% $9 929 845 913 DOGE 7 days price change
12 Solana (SOL) SOL Solana predictions 69.6% 56 $22.51 0.16% 8.87% $8 635 954 598 SOL 7 days price change
13 Binance USD (BUSD) BUSD Binance USD predictions 91.2% 1 $1.000029 0.05% 0.02% $8 119 915 835 BUSD 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 72% 50 $6.26 1.54% 0.77% $7 311 391 259 DOT 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 84% 24 $0.066579 3.00% 0.41% $6 769 516 188 WTRX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2023 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.