Protocol upgrades are one of the biggest drivers of momentum because they show developers' dedication to fixing bugs, incorporating user requests and adding new features that make the protocol competitive and shore up the token's value. One project that has seen its token price rally to a new all-time high following the launch of a highly anticipated upgrade is Terra (LUNA), a blockchain protocol that uses fiat-pegged stablecoins like TerrUSD (UST) to create a global payments system. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $23.81 on Sept. 21, the price of LUNA surged …

Every week, subscribers of Cointelegraph’s Markets Pro data analytics platform receive a detailed breakdown of the top performers of the week and the VORTECS™ Score indicator’s performance in tracking potential bullish and bearish developments. Here are some of the highlights of the latest report: Axie Infinity Shard (AXS) recorded a new all-time high following a strong VORTECS™ Score. Three out of ten top price movers flashed a VORTECS™ Score of 80 or higher before peaking. NewsQuakes™ alerts gave traders an early signal for NEAR’s and RAY’s double-digit rally. The all-time top VORTECS™ Scorers’ average gains against Bitcoin (BTC) demonstrated that …

AXS, the native token of Axie Infinity, a play-to-earn nonfungible token (NFT) game built atop the Ethereum blockchain, rallied more than 100% on a quarter-to-date (QTD) timeframe to refresh a new record high above $155. Nonetheless, the cryptocurrency now risks paring a portion of its recent gains as a key technical indicator, dubbed the relative strength index (RSI), flashes its overbought conditions. In doing so, it might correct below $90 — almost a 40% drop. The bearish outlook surfaces after studying the relationship between AXS’s price and its RSI readings. In detail, when the RSI rallies above 70, it mostly …

Bids for Ethereum’s native token, Ether (ETH), could rise to $13,000 in the next two months if history repeats itself. Ether saw a fractal indicator from 2017, consisting of at least four technical patterns that were instrumental in pushing ETH price up by over 7,000%. The same set of bullish indicators have flashed once again in 2021 as Ether trades above $3,350 after rallying over 360% year-to-date. The 2017 Ether fractal, explained In detail, the four technical indicators are the relative strength index (RSI), stochastic RSI, bullish hammer and a Fibonacci retracement level. It started with the bullish hammer’s occurrence …

Airdrops have become the cryptocurrency ecosystem’s equivalent of stimulus checks over the past couple of years and further proof of this can be evidenced from popular protocols, like Uniswap and dYdX, that rewarded their early adopters with token drops that are now worth $30,000 to $2 million. The latest protocol to surprise its userbase with a wallet fattening airdrop was Axie Infinity (AXS), a blockchain-based battle game that has risen in prominence over the course of 2021 as users embrace its play-to-earn (P2E) gaming model. Data from Cointelegraph Markets Pro and TradingView shows that since bounding off a low of …

In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism. Another project that has benefited from the sector's transition to layer-1 and layer-2 alternatives is OMG Network (OMG), a non-custodial layer-two protocol that utilizes an optimistic rollup scaling solution to improve Ethereum scalability. Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $8.42 on July 20, the price of OMG has climbed 380% to reach a daily …

High transaction costs have been a thorn in the side of investors and developers for more than a decade and the issue became worse in 2021 after the emergence of decentralized finance (DeFi) and nonfungible tokens (NFT) led to record-high levels of activity across the cryptocurrency ecosystem. Since the completion of Ethereum's London hard fork, cross-chain bridges and layer-2 solutions have been revised as options for mitigating the high fees on the Ethereum network. In the past two weeks, Celer, a layer-two scaling solution that utilizes off-chain transaction handling to help increase the throughput capacity of its network, has seen …

Decentralized exchange dYdX's native token DYDX surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services to its users. Holding DYDX gives owners the right to propose and vote on changes to dYdX's layer 2 protocol. DYDX stakers receive rewards by depositing to the …

Ripple's (XRP) rallied 72% from Aug. 7 to Aug. 14 but since then, every attempt to break out of the descending channel has been quickly suppressed. The past ten days have been no different, with the XRP price correcting by 15%. The platform was first launched in 2012 and Ripple is a distributed open-source protocol and remittance system created by United States-based Ripple Labs. The company provides cross-border payment solutions through domestic partnerships or by offering RippleNet services. At one point, XRP price was trading above $2, but the ongoing multi-year lawsuit between Ripple and the U.S. Securities and Exchange …

The blockchain ecosystem has evolved significantly over the past decade as smart contract capabilities have moved the industry from being a simple medium of exchange to a bustling ecosystem full of decentralized finance (DeFi) and nonfungible tokens (NFT). One project that has benefited from the increased capabilities of blockchain technology and the recent launch of smart contracts on Cardano is Coti, an enterprise-grade fintech platform focused on helping organizations create their own payment solutions and digitize any form of currency as a way to facilitate decentralized payments. Data from Cointelegraph Markets Pro and TradingView shows that since bottoming out at …

Uniswap (UNI) prices staged a solid rebound after crashing last week in the wake of China’s decision to intensify its anti-Bitcoin (BTC) and cryptocurrency rhetoric. UNI price gained 14.90% on Monday to reach an intraday high of $26.26. UNI/USD’s climb came a day after it dropped to a monthly low of $17.63. As a result, it churned out more than 48% profits for the dip buyers within the last 24 hours. Adoption FOMO UNI serves as a governance token inside Uniswap’s decentralized exchange (DEX) ecosystem. As a result, its holders get to vote on matters that help steer the future …

The emergence of decentralized finance (DeFi) has reshaped the landscape of the cryptocurrency ecosystem, which was once dominated by centralized exchanges like Coinbase and Binance and helped to make it more accessible for users and projects seeking to gain access to the markets. As DeFi emerged as a cheaper, more accessible option for investors and projects, centralized exchanges saw their reserves of BTC and Ether dip and they began to compete for users as growing numbers of investors opted to give DeFi a try. Instead of taking a 'centralized only' approach, LCX exchange has adapted its model to offer centralized …