Altcoins soar after Bitcoin price bounces off a key moving average

The cryptocurrency market got off to a slow start on August 19 after Stimulus to curtail US Federal Reserve talks. put pressure on global financial markets, but momentum within the cryptocurrency market rebounded in the afternoon session when Bitcoin (BTC) the bulls finally managed to break above the $ 46,000 level.

While most altcoins were slow to heat up on Thursday, several altcoins led the way with gains in excess of 20% due to major protocol updates and exchange listings.

The top 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data of Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours were Voyager Token (VGX), SwissBorg (CHSB) and Energy Web Token (EWT).

Voyager 2.0 excites investors

VGX is the native currency of the Voyager platform, a cryptocurrency broker that provides trading services to retail and institutional investors.

VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for VGX on August 16, 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. VGX price. Source: Cointelegraph Markets Pro

As seen in the graph above, the VORTECS ™ score for VGX turned green on August 15 and proceeded to rise to a high of 85 on August 16, around 46 hours before the price rose 100% during the next day.

The buzz for the project comes as VGX and the platform are undergoing a token swap and upgrade to Voyager 2.0.

SwissBorg pumps after a new listing

SwissBorg is another platform focused on wealth management and provides a community-centric environment where users can exchange and store their crypto assets.

Data of Cointelegraph Markets Pro and CoinGecko shows that after hitting a low of $ 0.714 on Aug 18, CHSB’s price spiked 35% to an intraday high of $ 0.973 as its 24-hour trading volume increased 445% to $ 16 , 1 million.

CHSB / USDT 1 hour chart. Source: CoinGecko

The sudden boost in momentum for the project was the result of the CHSB token becoming listed on the Bitfinex exchange on August 18 and the growing strength of the ecosystem is evidenced in the recent revelation that the SwissBorg community now has 450,000 verified users.

Related: Stablecoin adoption and the future of financial inclusion

Energy Web Token staking attracts users

The Energy Web Token price also recovered today after the project introduced new participation features. According to data from Cointelegraph Markets Pro, market conditions for EWT have been favorable for some time.

VORTECS ™ score (green) vs. EWT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS ™ score for EWT began to rebound on August 13 and peaked at 77 on August 14, around 84 hours before the price rose 33% the following day.

Interest in the project has started to grow thanks to continued Serie of discussions led by team members explaining the different aspects of the protocol, including the layout and the user interface of the ‘switchboard’.

The overall cryptocurrency market capitalization is now $ 1.954 trillion and Bitcoin’s dominance rate is 43.9%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and business move involves risk, you should do your own research when making a decision.