Small-cap altcoins give bullish signals even as Bitcoin touches $42,500 again

Small-cap altcoins give bullish signals even as Bitcoin touches ,500 again

The cryptocurrency market faced another day of erratic price movements on Jan. 13 after Bitcoin (BTC) bulls were rebuffed in their attempt to push the price above $44,000. This led to a sharp sell-off that has pushed the price back into the $42,000 range.

Despite the mid-day struggle that Bitcoin and many of the other large-cap cryptocurrencies faced, several small-cap altcoins managed to make notable gains.

The 7 currencies with the highest price change in 24 hours. Fountain: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the three biggest gainers in the last 24 hours were Cream Finance (CREAM), Electroneum (ETN), and Rari Governance Token (RGT).

CREAM token holders can opt for Iron Bank token

Cream Finance, a DeFi lending protocol, led the altcoin market with a gain of more than 35% after its 24-hour trading volume soared 365% to $75.2 million.

Data from Cointelegraph Markets Pro and TradingView shows that after falling to a low of $37.10 on Jan. 10, CREAM price catapulted 112% to hit a daily high of $78.65 on Jan. 13, as its 24-hour trading volume soared 351% to $75.3 million.

Small-cap altcoins give bullish signals even as Bitcoin touches $42,500 again
CREAM/USDT 4-hour chart. Source: TradingView

The price increase follows the announcement that CREAM token holders can now be eligible to receive the next Iron Bank token by staking their CREAM on the protocol during an extended lock-up period.

Electroneum focuses on the sharing economy

Mobile-based cryptocurrency platform Electroneum saw the price of its native ETN token soar 75% to $0.0134 in the past day, while its 24-hour trading volume surged 1,552%.

Cointelegraph Markets Pro’s VORTECS™ data began spotting a bullish outlook for ETN on Jan. 11, prior to the recent price rally.

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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 activity. from Twitter.

Small-cap altcoins give bullish signals even as Bitcoin touches $42,500 again
VORTECS™ Score (gray) vs. XTZ price. Fountain: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for the ETN peaked at 70 on January 11, about four hours before the price shot up 77.5% over the next two days.

The sudden surge in trading volume and price of ETN comes as the project has refocused its efforts on commercializing its AnyTask™ platform for freelancers. This has also contributed to an increase in ETN’s VORTECS™ score, which stands at 80 at the time of writing.

Rari Capital adds new Fuse funds

Rari Capital is a non-custodial DeFi robo-advisor that allows users to autonomously earn a return on their crypto holdings and uses RGT to conduct governance votes on the protocol.

Cointelegraph Markets Pro’s VORTECS™ data began spotting a bullish outlook for RGT on Jan. 9, prior to the recent price rally.

Small-cap altcoins give bullish signals even as Bitcoin touches $42,500 again
VORTECS™ Score (green) vs. RGT price. Fountain: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for RGT climbed into the green zone on January 9th and reached a high of 83 at around 9pm before the price started to rise 60.35% across the three following days.

The price appreciation for RGT follows the launch of several new Fuse groups at Rari Capital for popular projects, including OlympusDAO, Babylon Finance and BadgerDAO.

The global cryptocurrency market capitalization now stands at $2.041 trillion and the dominance rate for Bitcoin is 39.8%.

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