Altcoins continued to make notable gains on September 16 as a barrage of celebrities, massive investments, and the growing popularity of cross-chain bridges caught public attention.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners over the past 24 hours are Audius (AUDIO), Avalanche (AVAX) and Celer Network (CELR).
Superstars invest in Audius
The Audius platform is a decentralized music streaming and sharing protocol that aims to remove middlemen from the music industry and allow fans, subscribers and creators to interact directly.
According to data from Cointelegraph Markets Pro, market conditions for AUDIO have been quite favorable for some time.
The VORTECS ™ Score, exclusive to Cointelegraph, 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.
As can be seen in the graph above, the VORTECS ™ Score for AUDIO has been in the green for most of the past week, hitting a high of 77 on September 14th, about 22 hours before the price rose 38% the following day.
The rise in price and trading volume for AUDIO follows the announcement that several well-known musicians including Katy Perry, Nas and The Chainsmokers have participated in a strategic $ 5 million financing round for Audius.
Avalanche benefits from a $ 230 million investment round
Avalanche (AVAX) is a Layer 1 protocol that is gaining traction in 2021 thanks to its low fee environment and the launch of the Avalanche Rush incentive program that has attracted investors and liquidity from the Ethereum (ETH) network.
According to information from Cointelegraph Markets Pro, the market conditions for AVAX have also been quite favorable for some time.
As can be seen in the graph above, the VORTECS ™ Score for AVAX went into the green on September 13, hitting a high of 86 within 24 hours before rising 40% over the next two days.
The uptrend and momentum for AVAX comes after the announcement that large funds like Polychain Capital, Three Arrows Capital and Dragonfly Capital participated in a $ 230 million investment round in the Avalanche ecosystem.
Celer Network sees rise from its bridge to arbitrum
Celer Network is a Layer 2 scaling solution that uses off-chain transaction processing to increase the scalability and transaction throughput of your network.
VORTECS ™ data from Cointelegraph Markets Pro highlighted a bullish outlook for CELR on September 14 ahead of the recent price rally.
As can be seen in the graph above, the VORTECS ™ Score for CELR went into the green, peaking at 73 on September 14th, just as the price began to rise 59% over the next two days.
The rising demand for CELR comes from the fact that investors are using the Celer bridge to migrate tokens from multiple blockchains, including the newly launched Arbitrum solution. Celer’s Bridge also offers users the seven day withdrawal process currently required to remove assets from Arbitrum.
The total crypto market cap is $ 2.161 trillion and the dominance of Bitcoin is 41.4%.