Bitcoin consolidation below $60,000 has given the green light to altcoins like ROSE, YGG and AST.
The resilience of Bitcoin (BTC) holders will be tested further on Nov. 17 as the price attempts to push to $59,000 and below. This level has been well protected by the bulls, but analysts still expect the $63,000 level to be restored as support before saying the “descent” is over.
While the focus has been on bitcoin and exchange-traded funds (ETFs) lately, the altcoin market provided some relief, with several tokens rallying to new all-time highs on Nov. 17.
Top 7 coins with the highest price change in 24 hours. Source: Cointelegraph Markets Pro.
Data from Cointelegraph Markets Pro and TradingView shows that the top 3 players over the past 24 hours were Oasis Network (ROSE), Yield Guild Games (YGG) and AirSwap (AST).
Oasis Network launches $160 million development fund
Oasis Network (ROSE) is a privacy-focused blockchain platform built for open finance and building a responsible data economy.
Cointelegraph Markets Pro VORTECS™ data began revealing a bullish outlook for ROSE on Nov. 15, ahead of the recent price rally.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements, and Twitter activity.
VORTECS™ Score (green) compared to the ROSE price. Source: Cointelegraph Markets Pro.
As you can see in the chart above, the VORTECS™ score for ROSE started rising on November 15, peaking at 75 about 29 hours before the next day’s 37 percent price increase.
A sudden boost in momentum for ROSE came when the project announced the creation of a $160 million Oasis Ecosystem Development Fund “designed to support and scale projects built on Oasis.”
Yield Guild Games is expanding its ecosystem
Yield Guild Games (YGG) is a play-to-earn (P2E) gaming guild and decentralized autonomous organization (DAO) that participates in and invests in various aspects of the gaming industry, based on blockchain and non-fungible tokens (NFTs).
Data from Cointelegraph Markets Pro and TradingView shows that YGG’s price is up 32.7% overnight from a low of $5.93 on Nov. 16 to hit an intraday high of $7.87 on Nov. 17 when its 24-hour trading volume increased by 110% to $140.5 million.
YGG/USDT 4 hour chart. Source: Trade View
YGG’s rapid price rise comes as the project has secured new partnerships and cross-platform integrations, including the recent addition of Satoshi’s Legions and preparations for the upcoming launch of Thetan’s Arena.
Related: Nifty News: YGG 8-Game P2E Partners Ice Cube and Quiznos Dropping NFTs
Airswap launches new DEX
Airswap (AST) is a decentralized peer-to-peer (P2P) trading protocol on the Ethereum (ETH) network that works essentially the same as Uniswap, SushiSwap and other DeFi platforms, except Airswap does not use gas.
According to data from Cointelegraph Markets Pro, market conditions have been favorable for the AST for some time.
VORTECS™ score (green) compared to AST price. Source: Cointelegraph Markets Pro.
As you can see in the chart above, the VORTECS™ for the AST has been in the green for most of the past week, peaking at 80 on November 14, about 46 hours before the price surged 60% the next day. .
AST’s strength comes as AirSwap DAO successfully launched its new open source decentralized P2P exchange (DEX) offering gas-free swaps.
The total cryptocurrency market cap currently stands at $2.624 trillion, with a Bitcoin dominance rate of 43.4%.
The views and opinions expressed herein are solely those of the author and do not necessarily reflect those of Cointelegraph.com. Every step of investing and trading involves risk, you should do your own research when making a decision.