Despite experiencing a price dip, the crypto market remains bullish. Yield for HXRO has jumped to 5%, while AR post gains of 10%. As we move through February, investors should remain positive about digital assets as well.
On Dec. 17, Bitcoin (BTC) bulls were dealt another blow as the price fell near $45,500 during a noon bombardment. Although the price quickly recovered to $47,000, the breaking of a new daily low might indicate that further downside is on the way.
Several cryptocurrencies offered a haven for weary traders during the market slump, as token buybacks and increased network activity served to prop up their values and give cover from the storm.
Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.
Yearn.finance (YFI), Hxro (HXRO), and Arweave (ARW) were the top gainers over the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (AR).
Buybacks of tokens help YFI.
Yearn.finance is a decentralized finance (DeFi) aggregator service that enables investors to increase their yield farming income via automation.
According to data from Cointelegraph Markets Pro and TradingView, after reaching a low of $18,844 on Dec. 15, the price of YFI rose 56.48 percent to a daily high of $29,488 on Dec. 17, with a 220 percent increase in 24-hour trading volume to $844 million.
4-hour chart of YFI/USDT. TradingView is the source of this information.
The unexpected increase in YFI comes after the project announced that it has been buying back tokens since November, after the community decided to strengthen YFI’s tokenomics. To far, the protocol has acquired 282.4 YFI at an average price of $26,651 and has said that further buybacks would be funded by the project’s $45 million treasury.
The TD Ameritrade Network includes Hxro.
Hxro is a cryptocurrency options trading protocol based on the Ethereum (ETH) network that allows users to trade prominent cryptocurrencies as as Bitcoin, Ether, Dogecoin (DOGE), and Solana (SOL).
Prior to the latest price gain, VORTECSTM data from Cointelegraph Markets Pro started to indicate a favorable prognosis for HXRO on Dec. 14.
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.
HXRO pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for HXRO rose into the green zone on Dec. 14 and hit a high of 77 roughly 45 hours later, as seen in the chart above, before the price jumped 13.2 percent the following day.
The increase in HXRO price follows Dan Gunsberg’s appearance on the TD Ameritrade Network’s Market on Close podcast, where he discussed the future of Bitcoin and the growth of the larger cryptocurrency ecosystem.
According to a new poll, 83 percent of millennial millionaires currently hold cryptocurrency.
Arweave establishes a new daily transaction high.
Arweave is a decentralized storage network that aims to be the first completely permanent data storage network with a long-term funding source.
Before the latest price spike, VORTECSTM statistics from Cointelegraph Markets Pro started to identify a favorable prognosis for AR on Dec. 14.
The VORTECSTM Score (green) is compared to the AR price. Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for AR ascended into the dark green zone on Dec. 14 and to a high of 77 roughly sixteen hours later, as seen in the chart above, before the price soared 40.78 percent over the following two days.
The boost in AR’s pricing comes as the protocol’s Bundlr Network’s transaction count reached a new all-time high of 2.19 million transactions, a 50x increase in the maximum daily transactions from less than a year ago.
The total cryptocurrency market capitalization is currently $2.192 trillion, with Bitcoin commanding 40.6 percent of the market.
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