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Traders seek immense gains from altcoins while Bitcoin price strengthens

Bitcoin

www.thecoinrepublic.com 17 August 2021 13:39, UTC
  
Reading time: ~2 m

  • Bitcoin (BTC) is holding to its support level of $46,000
  • Altcoins on August 16 put on double-digit gains
  • Optimism and bullish sentiments ruling across the crypto markets

Bitcoin (BTC) is holding to its support level of $46,000 while other altcoins are also doing well, buoyed by the optimism and bullish sentiments ruling across the crypto markets. The optimism was infectious, and it rubbed off on Altcoins on August 16 as it put on double-digit gains and Bitcoin (BTC) bulls defended the $46,000 support level. Data from TradingView reveals that the biggest gainers over the past 24 hours were Solana (SOL), Presearch (PRE), and Arweave (AR).

Top 7 coins with the highest 24-hour price change. TradingView

Solana hits a new all-time high

SQL has surged to new heights in the past 24 hours and is touching $69.13, buoyed by the protocol’s new Mango Markets decentralized exchange (DEX), which helped increase demand for SOL.The data began to detect a bullish outlook for SOL on August 11, before the recent price rise. Prices  for Solana surged  on August 10 and peaked at 77 on August 11 and four days later its value jumped 62% over the next day.

Presearch Platform surges higher

The Presearch platform is a Blockchain-based decentralized search engine run by the community and enables users to search privately, rewarding them for their activity. VORTECS™ data reveals a bullish outlook for PRE on August 14, before the recent price rise. PRE climbed into the green zone in the past 24 hours, had surged to new heights, and touched 70 on August 13, and reached a high on August 14 around 26 hours before the price surged 102% over the next day.

Arweave gains 32%

Arweave boasts a new type of storage that backs up data with “sustainable and perpetual endowments” that allow users and developers to store data forever. The decentralized storage network, according to data, reveals that market conditions for AR have been favorable for some time.

AR climbed into the green zone and remained there for the majority of the time.AR reached a high on August 14 of 72, around 30 hours before the price increased 65% over the next day. The project has been on the rise over the last week, and daily transactions on the network are repeatedly hitting new record highs. The overall cryptocurrency market capitalization now stands at $2.005 trillion, and Bitcoin’s dominance rate is 43.5%.


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