Altcoins soar as Bitcoin bulls gather forces to attack the $48,000

The cryptocurrency market surged forward on Aug. 11, when the price of Bitcoin (BTC) rose to $46,743 and bulls are now targeting the $48,000 resistance level as the next target.

Data from Cointelegraph Markets Pro and TradingView show that the biggest gains in the last 24 hours were IoTeX (IOTX), WINk (WIN) and Dent (DENT).

Top 7 coins with the biggest price change in 24h. Source: Cointelegraph Markets Pro

The rise motivated by the listing on Coinbase continues for IOTX

IoTeX (IOTX) continued its rising tide on Wednesday (11), with altcoin taking the position of best 24-hour winner for the third day in a row. The gains seem to be linked to the announcement August 11 that Coinbase would list the token.

Data from Cointelegraph Markets Pro shows that altcoin has risen 322% since the fund at $0.0293 on August 10th. The current increase has taken the IOTX to a new record of $0.124 on Aug. 11, with its 24-hour trading volume reaching $2.75 billion.

Cointelegraph Markets Pro VORTECS™ data began detecting a bullish outlook for the IOTX on August 10, ahead of the recent price increase.

The VORTECS™ score, unique 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™ rating (green) x IOTX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for IOTX soared into the green zone and hit a high of 70 on August 10th, about five hours before its price rose 322% the next day.

WIN/USDT

WINk, a Tron-based oracle project, had the second biggest gain in the last 24 hours. The likely catalyst behind the change is the growing community enthusiasm about new provider opportunities. staking and liquidity, as well as the resources of games and non-fungible project tokens.

TradingView data shows that the price of WIN has risen 80% from a low of $0.000046 on August 10th to an intraday high of $0.000084 on August 11th, with its 24-hour trading volume increasing by 343%.

WIN/USDT 4h chart. Source: TradingView

The WINkLink protocol has now completed its transition from a strictly gaming-focused platform to a comprehensive oracle system capable of connecting real-world data through its smart contracts.

Related: DXY crash helps Bitcoin bulls before $50,000 price showdown

DENT/USD

Dent, a mobile-focused protocol, completed the top three performers in the last 24 hours by posting a 30.5% gain to $0.000456, while its 24-hour trading volume increased 200%.

Cointelegraph Markets Pro VORTECS™ data began detecting a bullish outlook for DENT on Aug. 7, ahead of the recent price increase.

VORTECS™ Score (green) x DENT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ score for DENT rose into the green zone early on August 7th and hit a high of 75 on August 9th, about 44 hours before its price started to increase 44% the following day. .

The overall capitalization of the cryptocurrency market is now $1.935 trillion and the Bitcoin dominance rate is 45%.

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

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