BitcoinToday

Multimillion-dollar funding rounds spark rallies in Avalanche and Audius

Altcoins proceed to e book notable beneficial properties on Sept. 16 as a slew of movie star endorsements, main investments and the rising recognition of cross-chain bridges catch traders’ consideration.

High 7 cash with the very best 24-hour value change. Supply: Cointelegraph Markets Pro

Knowledge from Cointelegraph Markets Pro and TradingView exhibits that the most important gainers over the previous 24 hours have been Audius (AUDIO), Avalanche (AVAX) and Celer Community (CELR).

Superstars spend money on Audius

The Audius platform is a decentralized music-sharing and streaming protocol that goals to chop out the intermediary from the music trade and permit followers, subscribers and creators to work together with one another straight.

In accordance with knowledge from Cointelegraph Markets Pro, market circumstances for AUDIO have been favorable for a while.

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

VORTECS™ Rating (inexperienced) vs. AUDIO value. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for AUDIO was within the inexperienced for a lot of the previous week and reached a excessive of 77 on Sept. 14, round 22 hours earlier than the value elevated 38% over the following day.

The spike in value and buying and selling quantity for AUDIO adopted the announcement that a number of well-known musicians together with Katy Perry, Nas and The Chainsmokers had taken half in a $5 million strategic funding spherical for Audius.

Avalanche advantages from a $230 million investing spherical

Avalanche (AVAX) is a layer-one protocol that has been gaining traction in 2021 because of its low charge atmosphere and the launch of the “Avalanche Rush” incentive program, which has attracted traders and liquidity from the Ethereum (ETH) community.

In accordance with knowledge from Cointelegraph Markets Pro, market circumstances for AVAX have additionally been favorable for a while.

VORTECS™ Rating (inexperienced) vs. AVAX value. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for AVAX surged into the inexperienced zone on Sept. 13 and reached a excessive of 86 round 24 hours earlier than the value elevated 40% over the following two days.

The increase in value and momentum for AVAX comes following the announcement that giant funds like Polychain Capital, Three Arrows Capital and Dragonfly Capital participated in a $230 million investment round to the Avalanche ecosystem.

Celer Community sees a surge from its bridge to Arbitrum

Celer Community is a layer-two scaling resolution that makes use of off-chain transaction dealing with to assist to extend the scalability and the transaction throughput of its community.

VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for CELR on Sept. 14, previous to the latest value rise.

VORTECS™ Rating (inexperienced) vs. CELR value. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for CELR spiked into the inexperienced zone and reached a excessive of 73 on Sept. 14, simply as the value started to extend by 59% over the following two days.

The rise in demand for CELR comes as traders use the Celer bridge for token migrations from a number of blockchains, together with the newly launched Arbitrum resolution. Celer’s bridge additionally provides customers a work-around to the seven-day withdrawal course of at the moment required to take away belongings from Arbitrum.

The general cryptocurrency market cap now stands at $2.161 trillion and Bitcoin’s dominance fee is 41.4%.

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