The charts turned green as the price of Bitcoin (BTC) rose to $ 32,858, but several analysts also warned that the market may not be out of the woods just yet.
Data from Cointelegraph Markets Pro and TradingView shows that the main engines in the last 24 hours were Telcoin (TEL), Polygon (MATIC) and Axie Infinity (AXS), indicating that the recovery is widespread and not only limited to the large-cap cryptocurrencies. .
Top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro
As seen from the list above, the top performing tokens represent a variety of cryptocurrency subsectors, including non-fungible tokens, artificial intelligence, and decentralized financial projects.
Telcoin secures new trading pairs on QuickSwap
Telcoin (TEL), a blockchain protocol focused on sending and receiving mobile-based global remittances, was the best performer over the past 24 hours.
TEL / USDT 4-hour chart. Source: TradingView
TEL recovered 71% from a low of $ 0.0091 on July 20 to an intraday high of $ 0.0158 and its 24-hour trading volume increased 136% to $ 43 million.
Interest in the project received a notable spike following the introduction of “DeFi agents” in the Fetch protocol, which are designed to help users manage their liquidity and protect it from permanent losses or carpet pulls.
The price of MATIC increases after the launch of Polygon Studios
The second best performing token in 24 hour charts is Polygon (MATIC), the popular layer two solution for the Ethereum (ETH) network that has seen a significant increase in adoption during the first half of 2021.
VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for MATIC on July 20, ahead of the recent price spike.
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, trading volume, recent price movements, and trading activity. Twitter
VORTECS ™ score (green) vs. price MATIC. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS ™ score for MATIC first turned green on July 19 and rose to a high of 77 on July 20 when its price hit a low of $ 0.62, just one hour. before its price rose 52% during the next one. 29 hours.
Polygon’s growing momentum is due in large part to the launch of Polygon Studios, the “new protocol arm for the blockchain gaming and NFT ecosystem.”
Related : Richest Crypto Billionaire Trading Firm Reveals Buying ‘Much More’ Bitcoin Below $ 30K
AXS regains momentum
The third best performer in the last 24 hours was Axie Infinity (AXS), an NFT-centric protocol that recovered more than 1,000% in the last month thanks to increasing user activity and the revenue opportunities it offers to users. in economically disadvantaged countries.
According to data from Cointelegraph Markets Pro, market conditions for AXS have been favorable for some time.
VORTECS ™ score (green) vs. price AXS. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS ™ score for AXS rose for most of the past week and peaked at 77 on July 20, about an hour before the price increased 46% over the next few weeks. sixteen hours. Currently, the AXS price is trading at $ 18.
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 trade move involves risk, you should do your own research when making a decision.