Altcoins rally higher while Bitcoin bulls target $50,000

Bulls formally made their declare clear immediately as Bitcoin (BTC) value rallied 4.18% to $49,163 and captured the eye of traders who’ve been ready for BTC to reclaim the $50,000 mark.

The uptick in bullish momentum translated right into a wave of inexperienced candles from altcoins and nearly all of the tokens within the prime 200 registered good points.

Top 7 cash with the very best 24-hour value change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView reveals that the most important gainers over the previous 24-hours have been Syscoin (SYS), TrustSwap (SWAP) and PARSIQ (PRQ).

Syscoin celebrates its seventh birthday

The finest performing coin over the previous 24-hours has been Syscoin, a platform that provides low-cost tokens, property and NFTs secured by the hash price and censorship resistance of the Bitcoin community.

VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for SYS on Aug. 15, previous to the current value rise.

The VORTECS™ Score, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mixture of information factors together with market sentiment, buying and selling quantity, current value actions and Twitter exercise.

VORTECS™ Score (inexperienced) vs. SYS value. Source: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Score for SYS climbed into the inexperienced on Aug. 15 and reached a excessive rating of 72, round 4 days earlier than its value elevated by 96%.

The sudden surge in value comes because the Syscoin protocol celebrates its seventh 12 months of operation and is getting ready for the upcoming improve to Taproot, which is able to go reside in November.

TrustSwap pops forward of its NFT drop

TrustSwap is a distributed protocol that refers to itself as a “full-service digital asset ecosystem” that provides the promise of bringing a brand new evolution to decentralized finance (DeFi). It specializes within the creation of multi-chain token swaps and is quickly increasing to incorporate staking options, the power to mint new tokens and an in-house launchpad.

According to knowledge from Cointelegraph Markets Pro, market circumstances for SWAP have been favorable for a while.

VORTECS™ Score (inexperienced) vs. SWAP value. Source: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Score for SWAP had been within the inexperienced for almost all of the previous week and reached a excessive of 78 on Aug. 16, round 68 hours earlier than the worth elevated 51% over the subsequent day.

Excitement for the token has picked up over the previous couple of days due to an upcoming NFT drop scheduled to happen on Aug. 21.

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New options excite the PARSIQ neighborhood

PARSIQ, a blockchain-based analytics platform, rallied by 38.53% over the previous 24 hours.

VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for PRQ on Aug. 18, previous to the current value rise.

VORTECS™ Score (inexperienced) vs. PRQ value. Source: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Score for PRQ climbed into the inexperienced on Aug. 18 and reached a excessive of 71 roughly 26 hours earlier than its value surged by 70% over the subsequent day.

The speedy value escalation got here following the discharge of PARSIQ’s User Defined Streams which permit tasks and builders to “import their contract and choose what contract occasions they wish to allow Smart Triggers for, instantly upon deployment of their contract.”

The general cryptocurrency market cap now stands at $2.091 trillion and Bitcoin’s dominance price is 43.7%.

The views and opinions expressed listed here are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Every funding and buying and selling transfer entails danger, it is best to conduct your individual analysis when making a choice.