Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

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Altcoins proceed to guide notable positive factors on Sept. 16 as a slew of celeb endorsements, main investments and the rising reputation of cross-chain bridges catch buyers’ consideration.

Prime 7 cash with the best 24-hour worth change. Supply: Cointelegraph Markets Pro

Information from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24 hours had been Audius (AUDIO), Avalanche (AVAX) and Celer Community (CELR).

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Superstars spend money on Audius

The Audius platform is a decentralized music-sharing and streaming protocol that goals to chop out the intermediary from the music trade and permit followers, subscribers and creators to work together with one another straight.

In accordance with knowledge from Cointelegraph Markets Pro, market circumstances for AUDIO have been favorable for a while.

The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market circumstances derived from a mixture of information factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.

VORTECS™ Rating (inexperienced) vs. AUDIO worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for AUDIO was within the inexperienced for many of the previous week and reached a excessive of 77 on Sept. 14, round 22 hours earlier than the worth elevated 38% over the subsequent day.

The spike in worth and buying and selling quantity for AUDIO adopted the announcement that a number of well-known musicians together with Katy Perry, Nas and The Chainsmokers had taken half in a $5 million strategic funding spherical for Audius.

Avalanche advantages from a $230 million investing spherical

Avalanche (AVAX) is a layer-one protocol that has been gaining traction in 2021 because of its low payment surroundings and the launch of the “Avalanche Rush” incentive program, which has attracted buyers and liquidity from the Ethereum (ETH) community.

In accordance with knowledge from Cointelegraph Markets Pro, market circumstances for AVAX have additionally been favorable for a while.

VORTECS™ Rating (inexperienced) vs. AVAX worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for AVAX surged into the inexperienced zone on Sept. 13 and reached a excessive of 86 round 24 hours earlier than the worth elevated 40% over the subsequent two days.

The enhance in worth and momentum for AVAX comes following the announcement that giant funds like Polychain Capital, Three Arrows Capital and Dragonfly Capital participated in a $230 million investment round to the Avalanche ecosystem.

Celer Community sees a surge from its bridge to Arbitrum

Celer Community is a layer-two scaling resolution that makes use of off-chain transaction dealing with to assist to extend the scalability and the transaction throughput of its community.

VORTECS™ knowledge from Cointelegraph Markets Pro started to detect a bullish outlook for CELR on Sept. 14, previous to the latest worth rise.

VORTECS™ Rating (inexperienced) vs. CELR worth. Supply: Cointelegraph Markets Pro

As seen within the chart above, the VORTECS™ Rating for CELR spiked into the inexperienced zone and reached a excessive of 73 on Sept. 14, simply as the worth started to extend by 59% over the subsequent two days.

The rise in demand for CELR comes as buyers use the Celer bridge for token migrations from a number of blockchains, together with the newly launched Arbitrum resolution. Celer’s bridge additionally provides customers a work-around to the seven-day withdrawal course of at present required to take away property from Arbitrum.

The general cryptocurrency market cap now stands at $2.161 trillion and Bitcoin’s dominance charge is 41.4%.

The views and opinions expressed listed here are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and buying and selling transfer includes danger, it’s best to conduct your individual analysis when making a choice.