FLUX, SFP and Badger DAO surge even as Bitcoin price falls to $47K

Bybit
FLUX, SFP and Badger DAO surge even as Bitcoin price
Blockonomics is a decentralized and permissionless bitcoin payment solution

[ad_1]

The year-long mantra that the crypto market would see a blow-off top in December has proven to be a dud thus far and for the last week, most cryptocurrencies have been under sell pressure and Bitcoin (BTC) is encountering difficulty in trading above $47,000. 

That said, it’s not all bad news for cryptocurrency holders on Friday because several altcoins have managed to post double-digit gains due to new exchange listings and protocol upgrades.

e3b03bb0 f98f 4dc6 9460 8a22c38507b5
Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Flux (FLUX), SafePal (SFP) and Badger DAO (BADGER).

FLUX benefits from the “Binance bump”

Flux is a GPU mineable proof-of-work protocol aimed at creating a scalable decentralized cloud infrastructure for Web 3.0 applications.

Bybit

VORTECS™ data and the NewsQuakes™ alerts from Cointelegraph Markets Pro began to detect a bullish outlook for FLUX on Dec. 9, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

dcd6297f 3d2f 4fa7 aa49 6967aefed060
VORTECS™ Score (green) vs. FLUX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the NewsQuake™ system put out an alert for FLUX on Dec. 9, less than an hour before the price began to spike 150% over the next day.

The announcement that helped spark the rapid price rise in FLUX was a notification that Binance would be list FLUX token on its platform. Shortly after this announcement, FLUX price rallied to a new all-time high at $4.01.

SafePal adds support for nine new networks

The SafePal project is a cryptocurrency hardware and software wallet solution for investors who hold assets on the Ethereum, Binance Smart Chain and Tron network.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $1.55 on Dec. 6, the price of SFP has climbed 45.84% to hit a daily high at $2.27 on Dec. 10 as its 24-hour trading volume spiked 50% to $158 million.

33bfe000 95fe 4187 aff3 ef78245db4af
SFP/USDT 4-hour chart. Source: TradingView

The building strength for SFP comes as the project released an updated version of its wallet app and added support for Cardano, Nervos Network, Avalanche, Fantom, HECO Chain, Songbird, BOBA Network, Optimism and Arbitrum.

Related: Trader who called 2017 Bitcoin price crash raises concerns over ‘double top’

Badger DAO prepares to reactivate its smart contracts

Badger DAO is an open-source decentralized autonomous organization focused on building products and infrastructure that increase the utility of Bitcoin in the decentralized finance landscape.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for BADGER on Dec. 9, prior to the recent price rise.

05b29959 9099 4995 b97f a43061f39eb5
VORTECS™ Score (green) vs. BADGER price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for BADGER spiked into the green zone and hit a high of 75 on Dec. 9, around three hours before the price increased 48% over the day.

The positive price action for BADGER comes as the protocol tries to bounce back from a Dec. 2 exploit which resulted in the halting of the project’s smart contracts.

The overall cryptocurrency market cap now stands at $2.218 trillion and Bitcoin’s dominance rate is 40.7%.

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.

[ad_2]

Source link

[wp-stealth-ads rows="2" mobile-rows="3"]
Binance