Tuesday, July 27, 2021

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    NEM, Augur and District0x rise as bitcoin price continues to fluctuate below $32,000

    Bitcoin (BTC) is about to close another week in which its price approached USD 30,000, but you can’t make the same bearish observation for all altcoins. On Friday, several smaller-cap tokens managed to shake off the bearish bias and posted double-digit gains before traditional markets closed for the weekend.

    Data from Cointelegraph Markets Pro and TradingView show that the best performing altcoins in the last 24 hours were NEM (XEM), Augur (REP), and district0x (DNT).

    The 7 currencies with the highest price change in 24 hours. fountain: Cointelegraph Markets Pro

    It’s worth noting that four of these seven tokens are from first-layer protocols, an interesting development that comes at a time when eHe price of Ether (Eth) is struggling below the USD 2,000 level and the community is looking forward to seeing if the next London fork improves the price of Ether and the transaction process on the network.


    Data from Cointelegraph Markets Pro and TradingView show that, after a month in which the average trading volume of 24 hours for NEM was USD 50 million, demand for the token soared on July 16, when volume rose to USD 532 million and the price soared 35% to USD 0.151.

    4-hour chart of the XEM/USDT pair. fountain: TradingView

    The price rebound follows the July 13 announcement that Symbol (XYM), a blockchain-based business protocol developed by the NEM group, had agreed to a project of collaboration with the government of Colombia.


    According to the data of TradingView, rep’s price began to rise on July 13 after 24-hour trading volume went from a daily average of USD 17 million to more than USD 521 million on July 14.

    4-hour chart of the REP/USDT pair. fountain: TradingView

    As a result of the surprise increase in volume, rep price rose 57% from a low of USD 14.60 on July 13 to an intraday high of USD 22.97 on July 16.

    Although there is no identifiable cause in plain sight for the spike in interest, a look at Augur’s Twitter account shows that forecasts on the net are still active, with the most recent polls asking “Who would win the 2021 Major League Baseball home-run derby?” and “Who will win the fight between Connor McGregor and Dustin Poirier?”


    The third biggest winner on July 16 was Distric0x, a protocol that calls itself a “network of decentralized markets and communities” and specializes in helping users launch their own decentralized autonomous organizations (DAO).

    4-hour chart of the DNT/USDT pair. fountain: TradingView

    Data from Cointelegraph Markets Pro and TradingView show that DNT’s trading volume went from USD 3 million to more than USD 60 million on Friday, leading to a 73% rally from USD 0.112 to an intraday high of USD 0.193.

    At the time of writing, the price of DNT had retreated to USD 0.133, representing a daily gain of 17.35%.

    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 involves risks, you should conduct your own research when making a decision.


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