Quant, Arweave and Avalanche soar while Bitcoin searches for support

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The cryptocurrency market as soon as once more entered a interval of uncertainty on Aug. 18 as the value of Bitcoin (BTC) struggled to seek out momentum beneath $46,000 and large-cap altcoins pulled again barely.

A number of initiatives did handle to buck the development and submit double-digit good points due to cross-chain integrations and protocol upgrades that excited their respective communities and supplied merchants with lower-fee Ethereum community alternate options.

High 7 cash with the best 24-hour worth change. Supply: Cointelegraph Markets Pro

Information from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24-hours had been Quant (QNT), Arweave (AR) and Avalanche (AVAX).

AR continues its sizzling streak

Arweave’s AR token has been one of many top-performing cash over the previous week, with exercise on the decentralized storage community continuing to set new record-highs in each day transactions.

VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for AR on Aug. 14, previous to the current worth rise.

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

VORTECS™ Rating (inexperienced) vs. AR worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for Arweave was elevated into the inexperienced zone earlier within the week and reached a excessive of 71 on Aug. 14, round 19 hours earlier than the value of AR elevated 106% over the subsequent 4 days.

QNT rallies 33%

The enterprise-focused Quant protocol focuses on facilitating interoperability throughout separate blockchain networks, and on Aug. 18, the QNT token posted its second-largest acquire, in line with information from Cointelegraph Markets Pro.

Information from TradingView reveals that after hitting a low of $149.61 on Aug. 17, the value of QNT rallied 33% to an intraday excessive at $200.18 on Aug. 18 as its 24-hour buying and selling quantity spiked 436% to $179 million.

QNT/USDT Four-hour chart. Supply: TradingView

Momentum for the challenge has been on the uptrend because the formation of the Quant Developer program designed to assist entice new builders to the challenge’s ecosystem.

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Avalanche integrates with Aave and Curve

Avalance is a layer-one blockchain protocol that claims to be the “quickest sensible contracts platform within the blockchain business, as measured by time-to-finality.” The challenge additionally boasts having “essentially the most validators securing its exercise of any proof-of-stake protocol.”

Information from TradingView reveals that after falling to a low of $21.44 early on Aug. 18, the value of AVAX surged 33% to an intraday excessive at $28.47 as its 24-hour buying and selling quantity spiked 50% to $1 billion.

AVAX/USDT Four-hour chart. Supply: TradingView

The challenge acquired a lift on Aug. 18 following the announcement that Avalanche had partnered with Aave and Curve to create a $180 million liquidity mining incentive program known as “Avalanche Rush.”

In accordance with the announcement, the aim of this system is to “deliver blue-chip DeFi purposes to Avalanche, beginning with two widespread protocols, Aave and Curve.”

The general cryptocurrency market capitalization now stands at $1.961 trillion, and Bitcoin’s dominance charge is 43.9%.

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

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