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 (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 (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 (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.
# | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
1 | BTC | Bitcoin predictions | 82% | 30 | $64 931.47 | 3.67% | -8.41% | $1 278 304 167 778 | ||
---|---|---|---|---|---|---|---|---|---|---|
2 | ETH | Ethereum predictions | 75.6% | 40 | $3 106.21 | 1.81% | -12.07% | $372 972 544 373 | ||
3 | USDT | Tether predictions | 90.8% | 1 | $1.000689 | 0.05% | 0.10% | $109 544 941 532 | ||
4 | BNB | Binance Coin predictions | 86% | 22 | $560.67 | 2.41% | -9.86% | $83 838 601 124 | ||
5 | SOL | Solana predictions | 76.8% | 48 | $145.02 | 9.16% | -15.63% | $64 795 895 793 | ||
6 | USDC | USD Coin predictions | 95.2% | 2 | $0.999971 | -0.01% | 0% | $33 165 794 565 | ||
7 | XRP | XRP predictions | 72% | 52 | $0.501078 | 2.10% | -17.65% | $27 623 985 647 | ||
8 | TON | Toncoin predictions | 69.2% | 61 | $6.87 | 11.93% | -5.17% | $23 851 164 697 | ||
9 | DOGE | Dogecoin predictions | 70.4% | 60 | $0.152895 | 2.53% | -23.45% | $22 009 024 773 | ||
10 | ADA | Cardano predictions | 70.4% | 56 | $0.468188 | 3.64% | -20.04% | $16 679 043 436 | ||
11 | SHIB | SHIBA INU predictions | 62.8% | 85 | $0.000023 | 4.34% | -15.10% | $13 795 618 451 | ||
12 | AVAX | Avalanche predictions | 70.4% | 63 | $35.44 | 1.10% | -23.27% | $13 396 955 819 | ||
13 | STETH | Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 | ||
14 | WBTC | Wrapped Bitcoin predictions | 79.6% | 30 | $64 988.55 | 3.61% | -8.27% | $10 098 163 869 | ||
15 | DOT | Polkadot predictions | 75.2% | 53 | $6.84 | 1.98% | -18.97% | $9 812 274 118 |
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2024 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.