The cryptocurrency market has shown a new level of resilience on Aug. 9 as a majority of tokens have managed to maintain recent gains and Bitcoin price hit a new 3 month high at $46,293. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were IoTeX (IOTX), CyberVein (CVT) and Swipe (SXP). IOTX/USDT IoTeX (IOTX), a platform focused on the decentralized internet of things, has been the best performer over the past 24-hours with a gain of 27%. Data from Cointelegraph Markets Pro and TradingView shows that the price of IOTX rallied 53% …

Ethereum’s native asset, Ether (ETH), crossed above $3,000 in an extended upside rally on Saturday, hitting a three-month high. Nevertheless, the cryptocurrency’s incredible move upward also boosted its possibilities of facing a bearish backlash. An on-chain indicator that tracks the total percentage of Ethereum addresses in profits predicted the said downside outlook. In detail, the so-called “Ethereum: Percent of Addresses in Profits” indicator by Glassnode reached 96.4% amid the ETH/USD price rally. Lex Moskovski, chief investment officer of Moskovski Capital, highlighted the metric’s capability of predicting Ether’s top. In hindsight, whenever the Glassnode indicator crossed the 90%-threshold, it resulted in …

Demand for Aave has boomed dramatically in the previous 24 hours as traders assessed its involvement in Bitwise Investment’s upcoming institutionally focused investment vehicle. The San Francisco-based asset management firm announced Wednesday that it would invest directly in Aave to back its “Bitwise Aave Fund,” a fund created to build a bridge between accredited investors and the emerging decentralized finance (DeFi) sector. “There is growing demand from financial advisors, hedge funds, institutions, and other professional investors for exposure to the fast-growing DeFi markets,” Matt Hougan, chief information officer of Bitwise, said in a press release, adding that the investment products …

Bitcoin (BTC) price has recovered from its recent $37,500 low and the digital asset's run back toward the $40,000 mark spurred bullish activity from many altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the top gainers over the past 24-hours are XYO Network (XYO), Saffron Finance (SFI) and Quant (QNT). XYO/USD In the past 24-hours, XYO Network, a location-based data network that uses blockchain to track and record location information, rallied by 72%. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for XYO on Aug. 2, prior to the recent price rise. The VORTECS™ …

The price of Axie Infinity's native token AXS surged on Wednesday despite a lackluster upward momentum elsewhere in the cryptocurrency market. The AXS/USD pair rose to as much as $44.96 following a 16.44% intraday jump. Nonetheless, the strong upside move came as a part of a sideways trend that saw AXS fluctuating inside the $36.48-$56.57 price range, hinting that traders placed speculative upside bets on the token. Axie ecosystem swells Axie Infinity's growth as a gaming project provided bullish cues to speculators. Data provided by Axie World showed that Axie Infinity earned $196.89M in July 2021. Meanwhile, so far in …

Last week's momentum in Bitcoin (BTC) has all but faded as its price is once again below the $39,000 level, with bears and bulls locked in a heated battle for market dominance. Data from Cointelegraph Markets Pro and TradingView shows that while Bitcoin price faltered, several altcoins like Voyager Token (VGX), Perpetual Protocol (PERP) and Terra (LUNA) saw double-digit gains. VGX/USD The top performer over the past 24 hours has been Voyager Token, the native asset of cryptocurrency brokerage platform Voyager, which offers retail and institutional investors a secure place to purchase, trade and lend crypto assets. VORTECS™ data from …

Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term risk setups sold the Ether top to secure interim profits, leading up to a modest downside correction. On Monday, Ether prices rose 1.81% to $2,600 to offset the Sunday sell-off risks. …

Cardano is close to attaining the title of a fully-fledged smart contracts platform following a critical upgrade in mid-July. The project's founder Charles Hoskinson confirmed that they recently processed the sales of more than $10 million worth of non-fungible tokens atop their public ledger. Moreover, SundaeSwap, the first DeFi DEX to utilize Cardano smart contracts is expected to launch soon, and many ADA investors interpret this as a potential bullish catalyst for the altcoin. But the Ethereum rival's growth as a project might not lead to higher adoption for its native cryptocurrency, ADA, at least according to an analysis shared …

Bitcoin (BTC) bulls are locked in a battle with bears to take control of the $40,000 level and dovish comments from the United States Federal Reserve chair, Jerome Powell, suggest that loose monetary policies will remain in place for the foreseeable future. Generally, the crypto ecosystem is “cautiously optimistic” about further price rises as the fallout from China’s miner purge begins to subside and displaced miners begin to establish mining operations in other countries, resulting in a rebound of the Bitcoin hash rate. Data from Cointelegraph Markets Pro and TradingView shows that while the momentum in Bitcoin has slowed down, …

Last week, as Bitcoin resurged after briefly falling below $30,000, a good number of altcoins embarked on their own relief rallies. Telcoin (TEL) was among this large group of digital assets whose prices shot up on July 21. Unlike most of its peers, however, TEL’s upward trend remained alive for the entire week, leading to a respectable 82% gain against the dollar and a 43% gain against Bitcoin (BTC) over a seven-day period. Given the market dynamics of the time, many traders may simply attribute this performance to a marketwide oversold bounce — but was there a way for traders …

Bitcoin’s (BTC) recent surge above $40,000 injected a healthy dose of bullish optimism into the crypto market, and further proof of this comes from the Crypto Fear & Greed Index, which has decreased from "extreme" to "neutral." Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24 hours are Linear (LINA), WazirX (WRX) and Storj (STORJ). The overall market conditions continue to improve following the now-denied rumors that Amazon would begin accepting cryptocurrencies as payment at some point in 2021 which helped to spark an increase of more than $155 billion in the total …

Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching. One new project that has steadily gained traction in terms of user growth and total value locked (TVL) since farming went live is DinoSwap (DINO), a Polygon network-based cross-chain protocol that rivals the likes of PancakeSwap and other automated market makers. Data from CoinGecko shows DINO that saw its price trade as high as $4.28 upon launch and a surprise flash crash pushed …