WAX, Gnosis and IOST pack on earnings after Bitcoin price hits $ 50,000

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The bull market narrative is back now that the price of Bitcoin (BTC) managed to briefly break above $ 50,500 on August 23.

A handful of altcoins have also seen their prices rise as market dynamics continue to strengthen. For many tokens, the price was supported by new exchange listings and inter-protocol collaborations that brought a new level of activity and attention to their ecosystems.

Top 7 parts with the highest price variation over 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours have been WAX (WAXP), Gnosis (GNO) and IOST (IOST).

List of WAX benefits on Binance

The top performer in the 24-hour chart is WAX, a delegated proof of stake (DPoS) blockchain protocol that claims to offer the world’s most proven and environmentally friendly blockchain for NFTs, video games, and collectibles.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $ 0.161 on August 19, the WAXP price jumped 242% to an intraday high of $ 0.55 on August 23 as its volume of 24-hour transactions rose 21,756% to $ 2.24 billion. .

4 hour WAXP / USDT chart. Source: TradingView

According to Cointelegraph Markets Pro’s NewsQuakes alert system, the sudden surge in prices came after Binance announced it would list WAXP.

Gnosis increases after the announcement of a partnership

Gnosis, an Ethereum-based decentralized prediction marketplace, rose after revealing that the team joined the ZK open legal working group to create legal clarity around the use of ZKPs to unlock their full potential in privacy and application scaling.

Cointelegraph Markets Pro’s VORTECS data began to detect a bullish outlook for GNO on August 19, 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, trade volume, recent price movements and Twitter activity.

VORTECS score (green) against the GNO price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS score for GNO has been high for some time and peaked at 78 on August 19, about 6 hours before its price rose 26% over the next four days. .

IOST staking competition attracts investors

IOST is a decentralized blockchain network that uses a new consensus protocol called Proof of Credibility to validate transactions at a higher speed than competing networks.

Cointelegraph Markets Pro’s VORTECS data began to detect a bullish outlook for IOST on August 22, ahead of the recent price hike.

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

As shown in the graph above, the VORTECS score for IOST started turning green on August 21 and peaked at 72 on August 22, about 8 hours before its price increased by 29%.

Activity for the blockchain has increased thanks to an ongoing staking competition organized in collaboration with Moonstake which is offering a first prize of 15,500 IOST tokens.

The overall cryptocurrency market capitalization now stands at $ 2.139 trillion and the Bitcoin dominance rate is 43.5%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move comes with risk, you should do your own research before making a decision.

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