The cryptocurrency market is showing signs of progress after a multi-day sale which saw the total market value fall in excess of $ 400 billion dollars as the price of bitcoin (BTC) soon fell below $ 46,000.
While most altcoins have entered a consolidation phase involving reconsideration of key levels of support, many projects have begun to recover lost profits after the new development aroused investor optimism.
ADA / USDT
The ADA in Cardano started the year with a bullish spark as the price rose 624% from $ 0.165 on January 2 to $ 1.20 on February 20. A sharp correction this week pushed the price to a low turn of $ 0.80, but it is clean. Traders would buy a blob.
At just $ 0.80, the ADA increased by 30% to $ 1.05 after news broke that community members using the Venus Protocol had approved a proposal to include the ADA in the Venus network.
VORTECS ™ data from Cointelegraph Markets Pro began to detect high expectations for the ADA on February 14, before the last rally.
Exclusive to Cointelegraph, VORTECS ™ is a mathematical comparison of historical and current market conditions derived from a number of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
Cointelegraph Markets Pro – VORTECS result result (green) against ADA price
As shown in the chart above, Binance Staking was introduced on 10 February and ADA’s VORTECS vurdering rating rose to 88 on 14 February.
Matic / USDT
On February 9, the Matic network was renamed Polygon as part of a strategic change to the Level 2 aggregator. This move was taken in response to Polkadot’s growing momentum and the desire to create an interoperability protocol on top of Ethereum.
Higher gas charges on the Ethereum network have increased the need for Layer 2 solutions, and Polygon has become one of the best solutions with projects such as Aavegochi and Golem already working on the protocol.
The rebranding helped push the MATIC price up from $ 0.07 on February 9 to a full-time high of $ 0.197 on February 20, before a pullback on the market brought it down to $ 0.111 on February 23.
Since then, MATIC has recovered 62% and trades at $ 0.16 as the community and the total value of Polygon securities continue to climb.
STX / USDT
Stacks (STX) became the star of the hack on February 24, when a tier 1 blockchain solution designed to implement smart contracts and decentralized applications in Bitcoin saw a record $ 166 million in trading pushing STX to a full-time high of $ 1 , 17. …
The excitement for the project came after it was announced on February 23 that STX holders can now participate in authorized stacks from Stack’s wallet, so they can earn BTC rewards.
According to Cointelegraph Markets Pro, market conditions for STX have been favorable for some time.
VORTECS ™ result (green) compared to STX price. Source: Cointelegraph Markets Pro
As shown in the chart above, the STX VORTECS result result reached 87 on February 23, almost 30 hours before the price rose 75% to a new high of $ 1.17.
Interoperability, end-to-end solutions and risks have become the driving forces for growth, helping to motivate investors to keep tokens and attract new members to both old and new blockchain ventures.
Following the recent downturn in the market, it has become clear that projects that offer token holders more ways to generate profits and operate on separate blockchain networks are starting to stand out from the rest of the industry.