ELA, API3 and PROM post double-digit gains as green-red market is mixed
Elastos (ELA), API3 (API3) and Prometheus (PROM) were up double digits as the broader crypto market stalled as a result of Bitcoin’s plunge below $42,000.
Fear and volatility remain the theme of the week as Bitcoin continues to face strong resistance near $42,000 and the stock market takes a major hit on Jan. 18. The proposed rate hike this year will continue to exert downward pressure and in the end the DOW was down 530 points or 1.4%.
Despite the downturn, altcoins managed to weather the turmoil, with some posting double-digit gains on Tuesday.
Top 7 altcoins with the best profit in 24 hours | Source: Cointelegraph Markets Pro
Data from TradingView shows that some of the altcoins that have seen the biggest gains over the past 24 hours are ELA, API3, and PROM.
Elastos launches token buyback program
The Elastos protocol, a Web 3-focused project aiming to become a “blockchain-powered version of the internet,” has exploded with a remarkable 22% rally.
Data from TradingView shows that ELA price has surged more than 121% after hitting a low of $2.8 on Jan. 8 and hit an intraday high of $6.23 on Jan. 19 as the 24- Hourly block trading volume increased 142% to $7.57 million.
4 hour frame ELA/USDT price chart | Source: TradingView
The increase in price and trading volume for ELA comes after the Elastos Foundation announced plans to launch a buyback program. The platform’s first decentralized exchange (DEX), Glide Finance, also saw an increase in total locked value (TVL).
API3 and Oracle’s “first party”
API3 is a protocol focused on improving communication between smart contracts and application programming interfaces (APIs) to facilitate the secure, complete and reliable transmission of updated data.
Data from TradingView shows that API3 price surged nearly 60% from a low of $3.43 on Jan. 10 and hit a high of $5.48 on Jan. 16 after 24-hour trading volume dropped 76% % had increased to $27 million.
API3/USDT 4 hour chart | Source: TradingView
The growing interest in API3 comes as the protocol’s first-party oracles gain prominence in the crypto community.
Prometheus is about to launch on the mainnet
The Prometheus protocol provides users with a decentralized data monetization framework designed to facilitate secure and private data sharing.
Data from TradingView shows that PROM surged 45% from a low of $10.2 on Jan. 10 to an intraday high of $14.89 on Jan. 18 amid 24-hour trading volume. His hours increased by 354% to $40.9 million.
PROM/USDT 4 hour chart | Source: TradingView
The price change for PROM comes as the project prepares for a full mainnet launch. This includes initial support for seven assets including Binance Coin (BCH), Wrapped BTC, PROM, Tether (USDT), USD Coin (USDC) and Wrapped Ethereum (WETH).
The total crypto market cap is currently $2.001 trillion and Bitcoin’s dominance is 40%.
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