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Charts turned green as Bitcoin (BTC) price rallied to $32,858, but a number of analysts also cautioned that the market may not be out of the woods yet.
Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24-hours were Telcoin (TEL), Polygon (MATIC) and Axie Infinity (AXS), indicating that the recovery is widespread and not just confined to large-cap cryptocurrencies.
Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
As seen in the list above, the top-performing tokens represent a variety of cryptocurrency subsectors, including nonfungible tokens, artificial intelligence and decentralized finance projects.
Telcoin secures new trading pairs on QuickSwap
Telcoin (TEL), a blockchain protocol focused on sending and receiving mobile-based global remittances, was the top performer over the past 24-hours.
TEL/USDT 4-hour chart. Source: TradingView
TEL rallied 71% from a low of $0.0091 on July 20 to an intraday high at $0.0158 to as its 24-hour trading volume surged 136% to $43 million.
Interest in the project received a noticeable uptick following the introduction of “DeFi agents” on the Fetch protocol, which are designed to help users manage their liquidity and protect it from impermanent loss or rug pulls.
MATIC price surges after the release of Polygon Studios
The second-best performing token on the 24-hour charts is Polygon (MATIC), the popular layer-two solution for the Ethereum (ETH) network that has seen a significant increase in adoption over the first half of 2021.
As seen in the chart above, the VORTECS
The surging momentum for Polygon is in large part due to the release of Polygon Studios, the protocol’s “new arm for the blockchain gaming and NFT ecosystem.”
Related: Trading firm of richest crypto billionaire reveals buying ‘a lot more’ Bitcoin below $30K
AXS regains momentum
The third-best performer over the past 24-hours was Axie Infinity (AXS), an NFT-focused protocol that rallied more than 1,000% over the past month thanks to soaring user activity and the income opportunities it offers users in economically disadvantaged countries.
According to data from Cointelegraph Markets Pro, market conditions for AXS have been favorable for some time.
As seen in the chart above VORTECS
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.