Altcoins book 50% gains after Bitcoin and Ethereum set a path to new highs

Bullish momentum in the cryptocurrency market continued to grow on Sept. 3. A market-wide rally lifted most altcoin prices and boosted Bitcoin and Ether (ETH), above their resistance levels of $51,000 and $4,000.

Altcoin price gains have not slowed down in recent weeks. Many altcoins saw a Friday gain of more than 30%.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

TradingView and Cointelegraph Markets Pro data show that Polymath (POLY), Bitcoin Cash ABC ABC (BCHA), and XYO Network were the top performers in the last 24 hours.

As the launch of its mainnet ‘Polymesh,’ Polymath rallies

Polymath, an Ethereum-based project that focuses on digital asset management, is called Polymath.

Cointelegraph Markets Pro and TradingView data show that POLY prices rose 56% after hitting a low at $0.345 in Sep. 1. The price soared to $0.54 intraday on Sept. 3. As its 24-hour trading volume increased by 2,040%, it reached an all-time high of $0.54.

This sudden surge of momentum comes after the Sept. 1 upgrade of the Polymesh incentive testnet, which brings the project closer to full launch of the Polymesh mainnet.

Bitcoin Cash ABC rebrands as eCash

Bitcoin Cash ABC (formerly Bitcoin Cash (BCH)), was recently rebranded to eCash(XEC).

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It’s based on a combination data points, including trading volume, market sentiment and recent price movements, and tweet activity.

The chart shows that the VORTECS(tm), Score for BCHA rose into the green zone on August 29 and reached an all-time high of 81 on August 30, just 74 hours after its price increased 78% the following day.

The project is gaining excitement after its official rebranding as eCash, which included a token revaluation to increase the circulating supply from 21,000,000 to 21 trillion.

Related: Bitcoin price overcomes $50K, stocks slide after disappointing US jobs report

XYO Network gains from a new partnership

The XYO Network, a network of anonymous devices that collects and validates geospatial data anonymously and records it on the XYO Blockchain, is called the XYO Network.

Cointelegraph Markets Pro data shows that market conditions have been favorable for XYO for some time.

The chart shows that the VORTECS(tm), Score for XYO started to increase on Sept. 1, and hit a peak of 77 about seven hours later, just before the price rose 285% the following day.

This price increase comes after CoinApp launched a campaign allowing users earn XYO tokens by participating in a case study.

The total cryptocurrency market is now worth $2.289 trillion. Bitcoin’s dominance rate at 41.5%.

You should do your research before making any investment or trading decision.

https://cointelegraph.com/news/altcoins-book-50-gains-after-bitcoin-and-ethereum-set-a-path-to-new-highs