Small-cap altcoins stage a recovery as Bitcoin traders aim to recapture $60K
Small-cap altcoins staged a recovery this week as Bitcoin traders regained their appetite for riskier assets. The market has rebounded from the 10% losses it underwent in September, with coins like Cardano and Stellar leading the charge higher.
The “crypto coins to watch this week” is a list of the top small-cap altcoins that have been performing well. The list includes Bitcoin, Ethereum, Ripple, and Litecoin.
On Nov. 17, Bitcoin (BTC) holders’ endurance is being put to the test as a series of efforts to drive the price below $59,000 increase. Bulls have successfully held this level, but experts are waiting for the $63,000 level to be regained as support before declaring the “dip” over.
While all of the recent spotlight has been on Bitcoin and ETFs, the altcoin market has been offering some respite, and a handful of tokens soared to fresh all-time highs on Wednesday.
Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.
Oasis Network (ROSE), Yield Guild Games (YGG), and AirSwap are three of the top gainers over the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (AST).
The Oasis Network has announced the formation of a $160 million development fund.
The Oasis Network is a privacy-focused blockchain platform that aims to promote open finance and the development of a responsible data economy.
Prior to the latest price spike, VORTECSTM data from Cointelegraph Markets Pro started to indicate an optimistic prognosis for ROSE on Nov. 15.
The VORTECSTM Score is an algorithmic assessment of past and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is unique to Cointelegraph.
ROSE price vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for ROSE started to rise on Nov. 15 and reached a peak of 75 about 29 hours before the price spiked 37 percent the following day, as seen in the chart above.
The project’s rapid surge in popularity coincides with the announcement of a $160 million Oasis ecosystem development fund, which is “committed to supporting and expanding enterprises built on Oasis.”
Yield Guild Games’ ecology grows.
Yield Guild Games is a decentralized autonomous organization (DAO) and play-to-earn gaming guild that engages in and invests in many sectors of the blockchain-based gaming industry and non-fungible currencies.
According to data from Cointelegraph Markets Pro and TradingView, after reaching a low of $5.93 on Nov. 16, the price of YGG rose 32.7 percent overnight to an intraday high of $7.87 on Nov. 17, with a 110 percent increase in 24-hour trading volume to $140.5 million.
4-hour chart of YGG/USDT. TradingView is the source of this information.
The project has recently gained additional collaborations and cross-platform connections, including a recent addition to Satoshi Legends “The 100” and preparations for the impending debut of Thetans Arena.
Nifty News: YGG Teams Up With 8 P2E Games, Ice Cube and Quiznos Drop NFTs
The latest DEX from Airswap is now available.
Airswap is a decentralized, peer-to-peer (P2P) trading system based on the Ethereum (ETH) network that functions similarly to Uniswap, SushiSwap, and other DeFi platforms, with the exception that it is gasless.
Market conditions for AST have been excellent for some time, according to data from Cointelegraph Markets Pro.
AST price vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for AST has remained in the green zone for the bulk of the last week, reaching a high of 80 on Nov. 14, about 46 hours before the price jumped 60 percent the following day, as seen in the chart above.
As AirSwap DAO successfully launched its own open-source P2P decentralized exchange (DEX), which enables gasless swaps, AST is gaining power.
The total cryptocurrency market capitalization is currently $2.624 trillion, with Bitcoin commanding 43.4 percent of the market.
The author’s thoughts and opinions are completely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.
The “buy these 3 altcoins” is a cryptocurrency trading strategy that has been making waves. It is based on the idea of buying small-cap coins and waiting for them to recover before selling them off.
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