WazirX, Presearch, Komodo unite after data shows increase in user activity

0

The typically volatile nature of the cryptocurrency market is back in full force on December 2 after the optimism of the past two days turned to fear and the price of Bitcoin fell back below $ 57,000.

Despite the pressure on many of the major cryptocurrencies, several altcoins managed to reverse the trend and post double-digit gains on December 2.

Top 7 parts with the highest 24 hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours have been WazirX (WRX), Presearch (PRE) and Komodo (KMD).

WazirX takes advantage of the list of new tokens

WazirX is an India-based cryptocurrency exchange that claims to be the fastest growing and most trusted exchange in the country.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $ 1.07 on November 28, the WRX price jumped 74% to a daily high of $ 1.87 on December 2 as its 24-hour trading volume soared by 630% to $ 432 million.

WRX / USDT 4 hour chart. Source: TradingView

WRX’s rising price comes as the exchange has listed new tokens, including popular metaverse tokens like Gala (GALA) and Cocos-BCX (COCOS).

Presearch exceeds 3 million users

Presearch is a blockchain-based decentralized research protocol that allows users to maintain control over their data, conduct research privately, and receive rewards for their research activity.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for PRE on November 26, ahead of the recent price hike.

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, trade volume, recent price movements and activity Twitter.

VORTECS ™ score (green) compared to the PRE price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS ™ score for PRE started increasing on November 26, approximately 57 hours before the price increased by 53.78 over the next three days.

The PRE’s price appreciation comes as search engine activity is on the rise and the protocol now hosts more than three million registered users who average more than four million searches per day. In November, the network hit a record 103 million searches.

Related: Bitcoin tests traders’ nerves as analyst reissues $ 400,000 BTC price forecast

Komodo launches low-cost DEX

Komodo is an open, composable, multi-chain platform focused on building user-friendly, scalable, and interoperable blockchain solutions.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for KMD on November 28, ahead of the recent price hike.

VORTECS ™ score (green) against the KMD price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS ™ score for KMD climbed into the green zone and peaked at 77 on November 28, about 39 hours before the price rose 80% over the two days. following.

The growing interest in KMD comes as the decentralized AtomicDEX protocol exchange has seen increased activity thanks to the low-fee environment.

The overall cryptocurrency market capitalization now stands at $ 2,608 billion and Bitcoin’s dominance rate is 41.1%.

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 comes with risk, you should do your own research before making a decision.


Source link

Share.

About Author

Comments are closed.