These 3 altcoins are at the center of a double digit profit recession

Bitcoin comes to an end in another week that saw prices drop to nearly $ 30,000 while several small cap altcoins managed to break out of the bearish attack and generate double-digit profits before traditional markets close.

Data from TradingView shows that the top movers for the past 24 hours have been NEM (XEM), Augur (REP) and TomoChain (TOMO).

Source: Coinmarketcap

Most of the altcoins that have skyrocketed are Layer 1 protocols, an interesting development that comes at a time when the price of Ether is struggling below $ 2,000 and the community is eagerly waiting to see if the upcoming London is coming Hard fork can improve process in the network.

NEM / USDT

Data from TradingView shows that after a month with an average 24-hour trading volume of more than $ 50 million, demand for the token spiked on July 16, when the volume rose nearly $ 630 million and the price spiked from $ 0.163.

4-hour chart VIEW / USDT. Source: TradingView

The price hike followed the July 13 announcement that Symbol (XYM), an enterprise blockchain protocol developed by the NEM team, had agreed to a project in partnership with the Colombian government.

REP / USDT

According to data from TradingView, REP price started rising on July 13 after 24-hour trading volume rose from a daily average of $ 17 million to over $ 665 million on July 14.

REP / USDT 4 hour chart. Source: TradingView

Due to the surge in trading volume, REP price jumped 57% from a low of $ 14.6 on July 13 to an intraday high of $ 25.7 on July 17.

TOMO / USDT

The third biggest upside on July 16 was TomoChain, a blockchain platform that supports instant transaction processing as the ideal solution for Tomoapp and decentralized applications on Geth to solve the scalability problem of blockchain platforms, especially Ethereum.

TOMO / USDT 4 hour chart. Source: TradingView

Data from TradingView shows that TOMO’s trading volume shot up from 58.6% to $ 33 million in 24 hours, up more than 31% from a low of $ 2.09 on July 13 to a high of 2.74 at the time of writing.

Annie

According to Cointelegraph

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