Frax Share, Swipe and Gnosis lead the altcoin market as Bitcoin recovers to $47.5k

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Volatility is the major theme in the cryptocurrency market again on December 30, as the price of Bitcoin (BTC) rebounded after falling early in the morning below $ 46,000, with bulls now battling bears. for support control close to $ 47,500.

The altcoin market also saw mixed results on Thursday, with many top 200 coins posting slight losses while the top performers saw double-digit gains thanks to major protocol developments and acquisitions.

Top 7 coins with the highest price variation over 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours have been Frax Share (FXS), Swipe (SXP) and Gnosis (GNO).

Frax Share increases its stablecoin supply

Frax Share is the governance token for the Frax protocol, a fractional algorithmic stablecoin system designed to deliver scalable and decentralized algorithmic money.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for FXS on December 28, 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) against the FXS price. Source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS ™ score for FXS crossed into the green zone on December 27 and peaked at 86 on December 28, about 14 hours before the price rose 57% over the course of the year. of the next two days.

The gains for the FXS token align with the growing adoption of the Frax stablecoin. FRAX’s outstanding supply has grown by more than 300% over the past two months to its current supply of $ 1.74 billion.

Swipe is acquired by Binance

Another project that has seen its price rise in the past 24 hours is Swipe, a platform that is developing card payment infrastructure for the cryptocurrency economy.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $ 1.46 on December 29, the SXP price jumped 38% to a high of $ 2.02 on December 30 as its volume in 24-hour transactions climbed 951% to $ 683 million. .

4 hour SXP / USDT chart. Source: TradingView

The sudden explosion in trading volume for SXP came after it was revealed that the Binance crypto exchange was finalizing the acquisition of Swipe and renaming it Solar.

Related: Binance Completes Acquisition Of Swipe, Paves Way For CEO Exit

Gnosis frees his zodiac bridge

Gnosis, a decentralized prediction market built on the Ethereum (ETH) network, saw its price rise 38% on Thursday.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for GNO on December 27, ahead of the recent price hike.

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

As shown in the graph above, the VORTECS ™ score for GNO peaked at 77 on December 27, about 35 hours before the price rose 38% the following day.

GNO’s building momentum followed the introduction of the Zodiac Bridge module for the Gnosis ecosystem, which gives Decentralized Autonomous Organizations (DAOs) the ability to control assets on separate chains compatible with Ethereum virtual machines.

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

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.