As Bitcoin recovers to $47,500, Frax Share, Swipe and Gnosis lead the altcoin market

On December 30, volatility once again became the theme of the entire cryptocurrency market, because the price of Bitcoin (Bitcoin) From a Break below $46,000 in the morning The bulls are now competing with the bears for support near the $47,500 level.

The results of the altcoin market on December 30 were also mixed. Many of the top 200 tokens experienced slight declines, and due to the development and acquisition of major agreements, the best performing tokens achieved double-digit growth.

Data from Cointelegraph Markets Pro and Transaction view Frax Share (FXS), Swipe (SXP) and Gnosis (GNO) showed the biggest gains in the past 24 hours.

Frax Share increases its supply of stablecoins

Frax Share is the governance token of the Frax protocol, which is a fractional algorithmic stable currency system designed to provide a scalable and decentralized algorithmic currency.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for FXS began to be discovered on December 28.

Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes, and Twitter activity.

As shown in the figure above, FXS’s VORTECS™ score climbed to the green zone on December 27, and hit a high of 86 on December 28. About 14 hours later, the price increased by 57% in the next two days.

The benefits of FXS tokens are consistent with the increasing popularity of Frax stablecoins. FRAX’s circulating supply has increased by more than 300% in the past two months, reaching the current US$1.74 billion.

Swipe to be acquired by Binance

Another project whose prices have soared in the past 24 hours is Swipe, a platform for developing card payment infrastructure for the cryptocurrency economy.

Data from Cointelegraph Markets Pro and Transaction view It shows that after hitting a low of $1.46 on December 29, the price of SXP surged 38% to a high of $2.02 on December 30, and its 24-hour trading volume soared 951% to $683 million.

The sudden surge in SXP’s trading volume came after news that the cryptocurrency exchange Binance was completing the acquisition of Swipe and renamed it Solar.

related: Binance completes the acquisition of Swipe, paving the way for CEO to leave

Gnosis released its zodiac bridge

Gnosis, a decentralized prediction market built on Ethereum (Ethereum) Network, whose price rose by 38% on December 30.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for GNO on December 27, before the recent price increase.

As shown in the figure above, GNO’s VORTECS™ score reached a high of 77 on December 27, approximately 35 hours before the price rose by 38% the next day.

The momentum of GNO’s construction is the introduction of the zodiac bridge module in the Gnosis ecosystem, which enables the decentralized autonomous organization (DAO) to control the assets on the independent Ethereum virtual machine compatible chain.

The overall cryptocurrency market value is now $2.233 trillion, and Bitcoin’s dominance rate is 40.3%.

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