{"id":330266,"date":"2021-08-25T20:52:10","date_gmt":"2021-08-25T17:52:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\/"},"modified":"2021-08-25T20:52:10","modified_gmt":"2021-08-25T17:52:10","slug":"traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\/","title":{"rendered":"# Traders pile into altcoins after Bitcoin price bounces at a key support"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4143a9b1243\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4143a9b1243\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\/#Telos_finalizes_its_bridge_to_Ethereum\" >Telos finalizes its bridge to Ethereum<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\/#Gnosis_rallies_after_creating_a_DAO\" >Gnosis rallies after creating a DAO<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\/#Protocol_upgrades_provide_a_boost_for_Alpha_Finance_Lab\" >Protocol upgrades provide a boost for Alpha Finance Lab<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Traders pile into altcoins after Bitcoin price bounces at a key support <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The wider crypto market has a wait-and-see feel to it on Aug. 25 as the price of Bitcoin (BTC) dipped to $47,360 before rebounding off the lower support of the ascending channel to reclaim the $48,000 level.\u00a0 <\/p>\n<p>Despite the swift turnaround, analysts are still wary and well-known financial analyst John Bollinger warned investors that it might be a good time to secure some profit.\u00a0<\/p>\n<p>Several altcoins have managed to overcome the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> market malaise to post double-digit gains on Wednesday as decentralized finance (DeFi) and nonfungible tokens (NFT) continue to push higher. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/f75dc032-71e0-4f2a-b5da-a8fffabb8d11.png\"><figcaption style=\"text-align: center;\"><em>Top 7 coins with the highest 24-hour price change. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the biggest gainers over the past 24-hours were Telos (TLOS), Gnosis (GNO) and Alpha Finance Labs (ALPHA).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Telos_finalizes_its_bridge_to_Ethereum\"><\/span>Telos finalizes its bridge to Ethereum<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The top-performing token on the 24-hour chart was Telos, a scalable blockchain network created from EOSIO software with a focus on the creation of NFTs and smart contracts for decentralized finance, gaming and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>. <\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for TLOS on Aug. 22, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/2b95dd6f-f24d-4dc6-af6b-3f077b03d2da.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. TLOS price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for TLOS began to shift positive on Aug. 22 and reached a high of 71 on Aug. 23, roughly nine hours before its price began to increase by 45% over the next two days. <\/p>\n<p>Excitement for the project has been on the rise over the past week as the Telos network prepares to release its Ethereum Virtual Machine (EVM) which will enable the bridging of assets between the two protocols. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gnosis_rallies_after_creating_a_DAO\"><\/span>Gnosis rallies after creating a DAO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Gnosis continued to see strong demand as developers on the project turned their attention toward the creation of a decentralized autonomous organization (DAO) for its asset management system called Gnosis Safe. <\/p>\n<p>According to data from Cointelegraph Markets Pro, market conditions for GNO have been favorable for some time. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/65d2fce7-5fe9-4ad3-935e-e24b6bc1f196.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. GNO price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for GNO has been in the green for much of the past week and reached a high of 75 on Aug. 22, around eight hours before the price increased 52% over the next two days.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Ethereum supply shock: Exchange ETH reserves continue to fall after a 26% drop in 2021<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Protocol_upgrades_provide_a_boost_for_Alpha_Finance_Lab\"><\/span>Protocol upgrades provide a boost for Alpha Finance Lab<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Alpha Finance Lab, a leverage-providing DeFi protocol, has been the third-biggest gainer on the 24-hour chart thanks in large part to the release of Alpha Homora V2 which includes a new \u2018Minimal Function Mode\u2019 designed specifically for leveraged yield farmers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/3f740641-8c91-4b65-a584-89163a7243c4.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. ALPHA price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for Alpha first turned green on Aug. 19 and climbed into the dark green zone to hit a high at 81 on Aug. 20. This was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 30 hours before ALPHA price increased 31% over the next three days. <\/p>\n<p>The token also got a boost of momentum on Aug. 20 after ALPHA was selected as the Binance Launchpad project of the year for being the best performing project to come out of the exchange&#8217;s incubator in 2021. <\/p>\n<p>The overall cryptocurrency market cap now stands at $2.091 trillion and Bitcoin\u2019s dominance rate is 43.8%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/traders-pile-into-altcoins-after-bitcoin-price-bounces-at-a-key-support\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Traders pile into altcoins after Bitcoin price bounces at a key support &#8221; The wider crypto market has a wait-and-see feel to it on Aug. 25 as the price of Bitcoin (BTC) dipped to $47,360 before rebounding off the lower support of the ascending channel to reclaim the $48,000 level.\u00a0 Despite the swift turnaround,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":330267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvODBhNGYzNTYtNzJjMS00NjM2LWJlOTEtZDNkYTZhOWI5M2YyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74862,74937,74863,74868,74891,81166,75150,105688,95118,73785],"class_list":["post-330266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-gnosis","tag-market-update","tag-markets-pro","tag-nft","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=330266"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/330266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/330267"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=330266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=330266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=330266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}