Non-fungible tokens skyrocket even as Bitcoin price drops nearly $ 32,000

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Today, the larger cryptocurrency market finds itself looking for something to generate some momentum as the price of Bitcoin (BTC) fell to $ 32,300 and altcoins suffered losses of 2 at 5 %.

Data from Cointelegraph Markets Pro and TradingView shows that the top three performers in the last 24 hours are Audius (AUDIO), Axie Infinity (AXS) and Small Love Potion (SLP).

Best performing assets in the last 24 hours. Source: Cointelegraph Markets Pro

The multi-faceted use cases and applications of non-fungible tokens continue to be a source of strength for the NFT industry as a whole, mainly because they open the door to different sources of revenue through gaming, music. and art sales.

Audius attracts new artists and users

According to data from Cointelegraph Markets Pro, the outlook for AUDIO has increased in recent days after new users and popular groups like Wheezer rushed to the decentralized music sharing and streaming protocol.

Cointelegraph Markets Pro’s VORTECS data began to detect a bullish outlook for AUDIO on July 9, 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 AUDIO price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS score for AUDIO turned green on July 8 and peaked at 73 on July 9, about 32 hours before its price rose 55% over the next two days.

Users take advantage of revenue opportunities on Axie Infinity

Axie Infinity (AXS) was one of the top performing tokens of July as users in economically disadvantaged regions embrace the blockchain-based trading and fighting game for the income opportunities it offers.

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

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

As shown in the graph above, the VORTECS score for AXS started turning dark green on July 7 and peaked at 89 on July 9, about 5 hours before the price rose 97%, passing from $ 11.18 to a new high at $ 22.14 over the next four days.

Related: Nifty News: Amex & SZA Sold Out Debut, Asics Launches Coin Operated Shoes, Space Jam Gets Money For NFTs

Small Love Potion Gets A Boost With New Trade List

The third highest performing player of the day is Small Love Potion, a token that is part of the Axie Infinity ecosystem that is used in the breeding process of Axies, the non-fungible token-based creatures that inhabit the Axie Infinity world. .

4 hour SLP / USDT chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that over the past 24 hours, the price of SLP has risen 55% from a low of $ 0.264 on July 12 to $ 0.41 on July 13, unless two cents from its all-time high of $ 0.419. .

SLP’s strong performance on Tuesday was in part thanks to the token’s listing on the FTX cryptocurrency derivatives exchange, which enabled both spot and perpetual futures trading.

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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