Despite the momentum generated by Bitcoin’s (BTC) weekend surge above $49,000, the wider cryptocurrency market was put under pressure on October 4 as more global concerns about the global financial system, rising inflation and supply chain challenges overshadowed the momentum generated by Bitcoin’s (BTC) weekend spike above $49,000.
However, several altcoins were able to recover, and at the time of writing, the crypto gaming and decentralized finance sectors were both experiencing continued growth in popularity.
Cointelegraph Markets Pro and TradingView data suggest that Axie Infinity (AXS), PowerPool (CVP), and Polkastarter (PLK) were the top gainers over the previous 24 hours, respectively (POLS).
Axie Infinity releases new character details
Axie Infinity is a blockchain-based battle and collecting game that has been one of the breakout stars of 2021. In addition to posting a stellar 5,000 percent rally, the game has also assisted in introducing the general public to the benefits of play-to-earn games and the income opportunities that they provide, as well as the power of blockchain-based battle and collecting games.
Several months have passed since the market’s conditions for AXS were favorable, according to data from Cointelegraph Markets Pro.
When comparing historical and present market conditions, the VORTECS™ Score is calculated using an automated evaluation of data points including market sentiment, trade volume, recent price changes, and Twitter activity.
AXS’s price began to rise on October 2 and rose into the dark green zone on October 3, barely one hour before it increased by 51 percent the next day, as depicted in the chart above.
After a live chat with the developers behind the project revealed some new details regarding planned updates, including the addition of Axie scores for each character, which will provide them new skills and effects during gameplay, the price of the game rose on Oct. 4.
Power Pool lists on Binance
With the formation of token pools and community voting, PowerPool is an Ethereum-based decentralized financial protocol that specializes in assisting users in accumulating governance power in Ethereum-based protocols.
The VORTECS™ data from Cointelegraph Markets Pro first detected an optimistic outlook for CVP on September 29, just a few days before the price increase that has occurred recently.
Polkastarter v2 launches
Token pools and auctions are used to raise capital and distribute tokens in the Polkadot ecosystem. Polkastarter is a protocol within the Polkadot ecosystem that provides an easy-to-use launchpad for early-stage blockchain projects to launch token pools and auctions as a means of raising capital and distributing their tokens.
Predictive VORTECS™ data from Cointelegraph Markets Pro first detected a bullish prognosis for POLS on Oct. 2, just a couple of days before the latest price increase.
In the chart above, it can be seen that the VORTECS™ Score for POLS began to rise on Oct. 2 and hit an all-time high of 74 roughly 29 hours before its price jumped by 23 percent the following day.
The increase in the price of POLS coincides with the project’s release of Polkastarter v2 to the community, which includes changes to the dashboard as well as the ability to stake POLS on Ethereum or the Binance Smart Chain, among other features.
The total market capitalization of cryptocurrencies is now $2.141 trillion, with Bitcoin accounting for 42.8 percent of the total market capitalization.
The author’s thoughts and opinions are entirely his or her own and do not necessarily reflect those of CoinNewsDaily. Each investing and trading action entails risk; before making a decision, you should conduct your own research. Market data is provided by HitBTC exchange.