The bullish momentum that had been rising throughout the cryptocurrency ecosystem over the previous few days got here to a screeching halt on Sept. 24 as information that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall within the worth of Bitcoin (BTC) from $45,000 to $42,000.
After the preliminary knee-jerk response and a short time period for the market to digest the information, merchants jumped again in to purchase the dips on a number of altcoins, which helped among the losses seen earlier within the day.
Ren brings DAI and BTC to Arbitrum
Ren is a blockchain protocol that focuses on facilitating interoperability and liquidity switch between completely different blockchain networks by means of a collection of darknodes that assist to guard person privateness.
In accordance with information from Cointelegraph Markets Professional, market circumstances for REN have been favorable for a while.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mix of information factors together with market sentiment, buying and selling quantity, current worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for REN was within the inexperienced zone for almost all of the previous week and hit a excessive of 81 on Sept. 21, round two hours earlier than the worth elevated 58% over the subsequent three days.
Celer Community releases cBridge 2.0
The Celer Community is one other Ethereum layer-two scaling answer that has been gaining momentum in current weeks because of its capacity to decrease transaction prices by means of using off-chain transaction dealing with, which helps to extend the scalability and the transaction throughput of its community.
VORTECS™ information from Cointelegraph Markets Professional started to detect a bullish outlook for CELR on Sept. 20, previous to the current worth rise.
As seen within the chart above, the VORTECS™ Rating for CELR climbed into the inexperienced on Sept. 18 and reached a excessive of 74 on Sept. 20, round 26 hours earlier than its worth started to extend by 99% over the subsequent three days.
The rise in worth and demand for CELR has come following the launch of its cBridge 2.0 cross-chain token bridge that facilitates the switch of property between a number of blockchain protocols, together with Ethereum, Binance Sensible Chain and Arbitrum.
Civic companions with Solrise Finance
Civic is a protocol targeted on offering a blockchain-based id administration answer able to satisfying Know Your Buyer (KYC) and Anti-Cash Laundering (AML) necessities from regulators whereas additionally defending the information and privateness of customers on the community.
VORTECS™ information from Cointelegraph Markets Professional started to detect a bullish outlook for CVC on Sept. 21, previous to the current worth rise.
As seen within the chart above, the VORTECS™ Rating for CVC started to select up on Sept. 21 and reached a excessive of 74 round eight hours earlier than its worth elevated by 45% over the subsequent two days.
The increase in momentum for Civic comes following the Sept. 23 announcement that the protocol has partnered with Solrise Finance to assist launch the primary permissioned decentralized trade (DEX) on Solana.
The general cryptocurrency market cap now stands at $1.879 trillion and Bitcoin’s dominance charge is 42.1%.
The views and opinions expressed listed here are solely these of the writer and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, you need to conduct your personal analysis when making a choice.