The bull market narrative has returned now that Bitcoin (BTC) worth managed to briefly climb above $50,500 on August 23. 

A handful of altcoins have additionally seen their costs cost larger because the momentum out there continues to construct. For a lot of tokens, the worth has been buoyed by new trade listings and cross-protocol collaborations which have introduced a brand new degree of exercise and a spotlight to their ecosystems. 

Prime 7 cash with the best 24-hour worth change. Supply: Cointelegraph Markets Professional

Knowledge from Cointelegraph Markets Professional and TradingView reveals that the largest gainers over the previous 24-hours have been WAX (WAXP), Gnosis (GNO) and IOST (IOST).

WAX advantages itemizing on Binance

The highest performer on the 24-hour chart is WAX, a delegated proof-of-stake (DPoS) blockchain protocol that claims to supply the “world’s most confirmed and eco-friendly blockchain for NFTs, video video games and collectibles.”

Knowledge from Cointelegraph Markets Professional and TradingView reveals that after hitting a low of $0.161 on Aug. 19, the worth of WAXP surged 242% to an intraday excessive at $0.55 on Aug. 23 as its 24-hour buying and selling quantity rose 21,756% to $2.24 billion.

WAXP/USDT 4-hour chart. Supply: TradingView

In accordance with the NewsQuakes™ alert system from Cointelegraph Markets Professional, the sudden spike in worth got here after Binance introduced that it might record WAXP.

Gnosis surges after a partnership announcement

Gnosis, an Ethereum-based decentralized prediction market pushed larger after revealing that the group had joined the ZK Open Authorized Working Group to create “authorized readability round the usage of ZKPs to unleash their full potential for privateness and scaling functions.” 

VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for GNO on Aug. 19, previous to the latest worth rise.

The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.

VORTECS™ Rating (inexperienced) vs. GNO worth. Supply: Cointelegraph Markets Professional

As seen within the chart above, the VORTECS™ Rating for GNO has been elevated for a while and reached a excessive of 78 on Aug. 19, round 6 hours earlier than its worth elevated by 26% over the following 4 days.

IOST’s staking competitors attracts buyers

IOST is a decentralized blockchain community that makes use of a novel consensus protocol referred to as “proof-of-believability” to validate transactions at the next pace than competing networks.

VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for IOST on Aug. 22, previous to the latest worth rise.

VORTECS™ Rating (inexperienced) vs. IOST worth. Supply: Cointelegraph Markets Professional

As seen within the chart above, the VORTECS™ Rating for IOST started to register inexperienced on Aug. 21 and climbed to a excessive of 72 on Aug. 22, round 8 hours earlier than its worth elevated by 29%.

Exercise for the blockchain has been on the rise because of an ongoing staking competitors executed at the side of Moonstake which provides a high prize of 15,500 IOST tokens.

The general cryptocurrency market cap now stands at $2.139 trillion and Bitcoin’s dominance charge is 43.5%.

The views and opinions expressed listed here are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer entails danger, it’s best to conduct your individual analysis when making a choice.