Altcoins sell off while exchange listings boost COTI and Conflux Network
Bears pressed harder on the market on Aug. 26 after Bitcoin (BTC) continued its pullback to an intra-day low at $46,250 and altcoins nursed near double-digit losses.
While most of the market is seeing red, a few altcoins managed to notch notable gains due to exchange listings and new staking opportunities.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were COTI, XYO Network (XYO) and Conflux Network (CFX).
COTI rallies after listing on Coinbase
The top-performing coin over the past 24 hours was COTI, an enterprise-grade fintech platform focused on decentralized payments.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for COTI on Aug. 22, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for COTI turned solidly green on Aug. 22 and proceeded to climb to a high of 79 on Aug. 25, around two hours before the price increased 81% over the next day.
The burst of momentum for COTI came after it was announced that the token would be listed on Coinbase Pro and Huobi, two of the largest cryptocurrency exchanges by daily trading volume.
XYO volume surges
The XYO Network is comprised of a network of devices that anonymously collect and validate data with a geographic component (geospatial). All data obtained from the tracking devices on the network are stored on the XYO blockchain.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for XYO on Aug. 21, prior to the recent price rise.
As seen in the chart above, the VORTECS™ Score for XYO climbed into the green zone on Aug. 21 and reached a high of 72, around 67 hours before its price increased 36% over the next two days.
Related: Forget Lambos, NFTs are the new crypto status symbol
Conflux Network expands its NFT ecosystem
The Conflux Network is a public, permissionless blockchain network that has the goal of bridging the communities and economies of Asian and Western societies in order to facilitate the secure and interoperable flow of assets and data.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.269 on Aug. 25, the price of CFX rallied 40% to an intraday high at $0.377 on Aug. 26 as its 24-hour trading volume surged by 242% to $66 million.
The sudden price surge comes as the CFX ecosystem works on building out its NFT ecosystem, and the token appears to have also benefited from recently being listed on the Mexo and Tokocrypto exchanges.
The overall cryptocurrency market capitalization now stands at $1.993 trillion, and Bitcoin’s dominance rate is 41.2%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.
