HomeCryptoMultimillion-dollar investment rounds spark rallies in Avalanche and Audius

Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

Altcoins proceed to e-book notable beneficial properties on Sept. 16 as a slew of movie star endorsements, main investments and the rising recognition of cross-chain bridges catch buyers’ consideration.

Top 7 cash with the very best 24-hour value change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24 hours had been Audius (AUDIO), Avalanche (AVAX) and Celer Network (CELR).

Superstars make investments in Audius

The Audius platform is a decentralized music-sharing and streaming protocol that goals to chop out the intermediary from the music trade and enable followers, subscribers and creators to work together with one another straight.

According to information from Cointelegraph Markets Pro, market situations for AUDIO have been favorable for a while.

The VORTECS™ Score, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mixture of knowledge factors together with market sentiment, buying and selling quantity, latest value actions and Twitter exercise.

VORTECS™ Score (inexperienced) vs. AUDIO value. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for AUDIO was in the inexperienced for a lot of the previous week and reached a excessive of 77 on Sept. 14, round 22 hours earlier than the worth elevated 38% over the subsequent day.

The spike in value and buying and selling quantity for AUDIO adopted the announcement that a number of well-known musicians together with Katy Perry, Nas and The Chainsmokers had taken half in a $5 million strategic funding spherical for Audius.

Avalanche advantages from a $230 million investing spherical

Avalanche (AVAX) is a layer-one protocol that has been gaining traction in 2021 because of its low price setting and the launch of the “Avalanche Rush” incentive program, which has attracted buyers and liquidity from the Ethereum (ETH) community.

According to information from Cointelegraph Markets Pro, market situations for AVAX have additionally been favorable for a while.

VORTECS™ Score (inexperienced) vs. AVAX value. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for AVAX surged into the inexperienced zone on Sept. 13 and reached a excessive of 86 round 24 hours earlier than the worth elevated 40% over the subsequent two days.

The enhance in value and momentum for AVAX comes following the announcement that giant funds like Polychain Capital, Three Arrows Capital and Dragonfly Capital participated in a $230 million investment spherical to the Avalanche ecosystem.

Celer Network sees a surge from its bridge to Arbitrum

Celer Network is a layer-two scaling resolution that makes use of off-chain transaction dealing with to assist to extend the scalability and the transaction throughput of its community.

VORTECS™ information from Cointelegraph Markets Pro started to detect a bullish outlook for CELR on Sept. 14, previous to the latest value rise.

VORTECS™ Score (inexperienced) vs. CELR value. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for CELR spiked into the inexperienced zone and reached a excessive of 73 on Sept. 14, simply as the worth started to extend by 59% over the subsequent two days.

The enhance in demand for CELR comes as buyers use the Celer bridge for token migrations from a number of blockchains, together with the newly launched Arbitrum resolution. Celer’s bridge additionally presents customers a work-around to the seven-day withdrawal course of presently required to take away property from Arbitrum.

The general cryptocurrency market cap now stands at $2.161 trillion and Bitcoin’s dominance fee is 41.4%.

The views and opinions expressed listed below are solely these of the creator and don’t essentially mirror the views of Cointelegraph.com. Every investment and buying and selling transfer includes threat, you need to conduct your personal analysis when making a choice.