Altcoins See 35% Bounce After Bitcoin Recovers $ 43,000

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The sharp correction that threatened to push Bitcoin (BTC) and altcoin prices back to their lowest swing lows appears to have dissipated now that Evergrande has informed investors that it intends to make a payment at time on his debt. With global markets feeling reassured, the prices of major stocks, Bitcoin, and altcoins all rebounded as the market opened.

After falling rapidly below $ 40,000 on September 21, Bitcoin (BTC) is now trading above $ 43,300 and Ether (ETH) has recovered to the $ 3,000 level. Altcoins have also seen a strong rally, with many posting gains of up to 15% at the time of writing.

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 Livepeer (LPT), COTI (COTI) and Axie Infinity (AXS).

Livepeer lists on the Web3 index

Livepeer is an Ethereum-based decentralized video streaming network that aims to be an alternative to traditional streaming solutions.

Cointelegraph Markets Pro’s VORTECS data began to detect a bullish outlook for LPT on September 21, 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) compared to the LPT price. Source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS score for LPT started rising on September 20 and peaked at 71 on September 21, about 19 hours before the price climbed 36% the next day.

The LPT price hike comes after the launch of the Web3 index which included Livepeer as one of the initial projects, thus helping to increase the visibility of the project.

COTI’s treasury publishes its “tech” white paper

COTI, an enterprise-grade fintech platform focused on decentralized payments, is the second biggest winner in the past 24 hours.

Cointelegraph Markets Pro’s VORTECS data began to detect a bullish outlook for COTI on September 21, ahead of the recent price hike.

VORTECS score (green) compared to the COTI price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS score for COTI turned green on September 21 and peaked at 77 around 10 hours before the price climbed 35% the following day.

The recovery in the price of COTI follows the publication of the technological white paper on COTI’s treasury and the listing of the token on Crypto.com.

Related: Avalanche Recovers From Evergrande Led Sell As AVAX Bounces Over 30%

Axie Infinity Bounces Back From Prolonged Downtrend

Axie Infinity (AXS) is a blockchain-based trading and fighting game, where users collect, breed, breed, and battle token-based creatures called Axies.

According to data from Cointelegraph Markets Pro, market conditions for AXS have been favorable for some time.

VORTECS score (green) compared to the AXS price. Source: Cointelegraph Markets Pro

As the graph above shows, the VORTECS score for AXS was in the green zone for most of last week and peaked at 82 on September 20, about 24 hours before its price climbed 33%. the next day.

AXS’s price hike followed the token’s listing on Bitfinex, an announcement that was recorded by Cointelegraph Markets Pro’s “NewsQuakes” alert system about 15 hours before its price began to rise.

The overall cryptocurrency market capitalization now stands at $ 1,921 billion and the Bitcoin dominance rate is 42.3%.

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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