Alt-coin holders have been piling into their favorite coins recently, and it looks like the trend is expected to continue. A lot of alt-coins are on the rise, and there are a lot of Altcoin bulls out there looking to invest. Some of the coins that are seeing the most activity include Altcoin Synthetix (SNX), Altcoin Axie Infinity (AXS), and Altcoin EOS.
You will be shocked when you look at the market cap of altcoins—even the most popular ones—and see that most of them are nonexistent. XRP, for example, has a market cap of over $4 billion, but over 98% of that is the value of the XRP token, which has no intrinsic value. The vast majority of the $4 billion XRP token is just a series of IOUs for real (printed) money.The steady trading of bitcoin (BTC) in the fork has opened the door to growth for individual altcoins, as anxious traders scour the markets for lucrative opportunities.
Data from Cointelegraph Markets Pro and TradingView show that Synthetix (SNX), Axie Infinity (AXS) and EOS have seen the biggest moves over the past 24 hours.
active with the best performance in the last 24 hours. Source: Cointelegraph Markets Pro
The emergence of decentralized financial tokens (DeFi) and non-fiat tokens has contributed to the price increase, while the adoption of stablecoin on the EOS protocol is an important source of validation for the EOSIO ecosystem.
SNX overtakes its all-time high of
According to Cointelegraph Markets Pro, Synthetix (SNX) was one of the best performing stocks last week, rising 100% to a multi-week high of $12.76 on July 5. amid growing interest in DeFi-related tokens.
SNX/USDT card 4 hours. Source: TradingView
As you can see in the chart above, the price of SNX has risen from a low of $9.17 at the start of trading on the 9th. July rose 32% to a daily high of $12.14.
One possible factor contributing to SNX’s rise last week was the generous 39.3% APY offered to SNX bettors, which may have contributed to the current surge in volume.
AXS continues weekly growth
The second highest 24-hour score is Axie Infinity (AXS), a blockchain-based trading and fighting game in which players can collect, breed, fight and trade token-based creatures called Axies.
Cointelegraph Markets Pro’s VORTECS™ data began on July 5. even before the recent surge in the stock price, a bullish outlook for AXS.
Cointelegraph’s proprietary VORTECS™ assessment is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ score (green) compared to AXS price. Source: Cointelegraph Markets Pro
As you can see in the chart above, the VORTECS™ score for AXS jumped into the green on July 5, peaking at 82 about three hours later, before rising 115% over the next two days to peak at 82 on July 7. July reached a new all-time high of $16.70.
EOS increases after acceptance of stable components
The third best 24-hour performer is EOS, a peer-to-peer blockchain network that made a splash in 2017 and raised more than $4 billion at the coin’s launch.
Related: DeFee focused: Grayscale investigates 13 more crypto assets for its trusts
. Chart 4 hours EOS/USDT. Source: TradingView
The most significant recent development for the protocol is the selection to host Ducat, the native algorithmic stablecoin of the US DAO CryptoFed, which became the first legally recognized decentralized autonomous organization (DAO) in the US after passing supporting legislation in the state of Wyoming.
The development comes after Block.one invested $10 billion in the creation of Bullish Global, an EOSIO-based exchange, and points to a growing list of use cases for the platform.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Cointelegraph.com. Every investment and every transaction involves risk. So you need to do your own research before making a decision.
axie infinity tokenaxie infinity shards priceaxs token priceaxie infinity newsis axie infinity legitaxie infinity download,People also search for,Privacy settings,How Search works,axie infinity token,axie infinity shards price,axs token price,axie infinity news,is axie infinity legit,axie infinity download,axie infinity coin prediction,axie infinity coin price