ELA, API3 and PROM buck the market-wide downtrend by posting a 20%+ gain

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Fear and volatility remain the topic of the week as Bitcoin (BTC) continues to face strong resistance near the price level of $ 42,000, with the stock markets hit hard on 18 January. At closing time, the DOW was down 530 points, or 1.4%.

Despite the economic downturn, altcoins have managed to beat the hype, with many of them with double-digit gains on Tuesday.

Top 7 currencies with the largest price change in 24 hours. Source: Cointelegraph Markets Pro.
Data from Cointelegraph Markets Pro and TradingView show that Elsastos (ELA), API3 (API3) and Prometheus (PROM) have risen the most in the last 24 hours.

Elastos launches token repurchase program
Elastos Protocol, a Web 3-focused project that aims to be the “blockchain-based Internet version,” grew by a remarkable 22%.

Data from Cointelegraph Markets Pro and TradingView show that after reaching a low of $ 2.80 on January 8, the price of Elastos rose 120% to reach a daily high of $ 6.16 on January 18, with 24-hour trading volume up 142%. up to $ 7.57 million.

4-hour ELA / USDT chart. Source: Trading View
The increase in ELA prices and volumes came when Elastos Corporation announced plans for its upcoming ELA repurchase program. The platform’s first decentralized exchange, Glide Finance, has also increased the total closed costs for the protocol slightly.

API3 and “first-party” oracles
API3 is a protocol focused on extending the connection between smart contracts and application programming interfaces (APIs) to enable secure and reliable transfer of modern data.

VORTECS ™ data from Cointelegraph Markets Pro began to reveal positive prospects for API3 on ​​January 18, ahead of the recent price increase.

Exclusive to Cointelegraph, the VORTECS er score is an algorithmic comparison of historical and current market conditions based on a number of data points, including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS ™ score (highlighted in green) compared to API3 score. Source: Cointelegraph Markets Pro.
As shown in the chart above, the VORTECS for result for API3 jumped to 77 on January 18, about an hour before the price began to rise by 26% over the next two hours.

Increased interest in API3 comes as the first page of the Oracle protocol gains momentum in the crypto community.

Related: Analysts warn that Bitcoin may fall to $ 38,000 before final eruption

Prometheus is preparing to leave
Prometheus provides users with a decentralized revenue generation framework designed to provide secure and private data sharing.

Data from Cointelegraph Markets Pro and TradingView show that the PROM increased by 30.84% ​​to a daily high of $ 14.68 on January 18 on a 300% increase in 24-hour trading volume.

PROM / USDT, 4-hour chart. Source: Trading View
Prometheus prices change as the project prepares to launch the entire main network. This will include initial support for seven assets, including Binance Coin (BCH), Wrapped BTC, PROM, Tether (USDT), USD Coin (USDC) and Wrapped Ethereum (WETH).

The total market value of cryptocurrency is currently $ 1.973 trillion and the Bitcoin dominance is 40%.

Source: CoinTelegraph

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