Small cap altcoins flash bullish signals even as Bitcoin revisits $42.5K

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The cryptocurrency market faced another day of erratic price movements on January 13 after Bitcoin (BTC) bulls were soundly rejected in their attempt to push the price above $44,000. This led to a sharp selloff that brought the price back into the high $42,000 range.

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

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

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

CREAM Token Holders Qualify for Iron Bank Token

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

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

CREAM/USDT 4 hour chart. Source: Trading View

The price surge comes after the announcement that holders of CREAM tokens can now qualify to receive the next Iron Bank token by staking their CREAM on the protocol during an extended lock-in period.

Electroneum focuses on the gig economy

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

VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for ETN on January 11, ahead of the recent price rally.

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 Twitter activity. .

VORTECS™ score (grey) versus ETN price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for ETN hit a high of 70 on January 11, about 4 hours before the price climbed 77.5% over the next two days.

The sudden spike in ETN trading volume and price comes as the project has refocused its efforts on bringing its AnyTask™ freelance platform to market. It also contributed to an increase in the VORTECS™ score for ETN, which sits at 80 at the time of writing.

Related: Bitcoin cycle far from over and miners here for the long haul: Fidelity report

Rari Capital adds new fuse pools

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

VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for RGT on January 9, ahead of the recent price rally.

VORTECS™ score (green) versus RGT price. Source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS™ score for RGT climbed into the green zone on January 9 and hit a high of 83 around 9 p.m. before the price began to rise 60.35% during the next three days.

RGT’s price appreciation follows the launch of several new fuse pools on Rari Capital for popular projects such as OlympusDAO, Babylon Finance and BadgerDAO.

The overall cryptocurrency market capitalization now stands at $2.041 billion and Bitcoin’s dominance rate is 39.8%.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.