Small cap altcoins flash bullish signals even as Bitcoin revisits $42.5K
The cryptocurrency market faced another day of erratic price movements on Jan. 13 after Bitcoin (BTC) bulls were soundly rejected in their bid to push the price above $44,000. This led to an abrupt sell-off that has thrust the price back into the high $42,000 range.
Despite the mid-day struggle faced by Bitcoin and many of the other large market-cap cryptocurrencies, several small-cap altcoins managed eek out notable gains.
Data from Cointelegraph Markets Pro and TradingView shows that the three biggest gainers over the past 24-hours were Cream Finance (CREAM), Electroneum (ETN) and Rari Governance Token (RGT).
Cream Finance, a DeFi lending protocol, led the altcoin market with a gain of more than 35% after its 24-hour trading volume surged 365% to $75.2 million.
Data from Cointelegraph Markets Pro and TradingView shows that after dipping to a low of $37.10 on Jan. 10, the price of CREAM catapulted 112% to a daily high at $78.65 on Jan. 13 as its 24-hour trading volume jumped 351% to $75.3 million.
The price spike comes after the announcement that CREAM token holders can now qualify to receive the upcoming Iron Bank token by staking their CREAM on the protocol for an extended lock-up period.
The mobile phone-based cryptocurrency platform Electroneum saw the price of its native ETN token spike 75% to $0.0134 over the past day as its 24-hour trading volume rose by 1,552%.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ETN on Jan. 11, prior to the recent price rise.
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
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