Even if the price of Bitcoin fell to 45,500 USD, YFI, HXRO and AR still achieved growth

Bitcoin (Bitcoin) The bulls were hit again on December 17th as the midday shock lowered the price to $45,500. The price did rebound quickly to $47,000, but the new daily low may indicate that there is additional downside.

In the broader market downturn, some altcoins provide refuge for weary traders, as the increase in token buybacks and network activity helps boost prices and provide a safe haven.

The top 7 tokens with the largest price changes in 24 hours. source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and Transaction view Showing the biggest gains in the past 24 hours are Yearn.finance (YFI), Hxro (HXRO) and Arweave (AR).

YFI benefits from token repurchase

Yearn.finance is a decentralized finance (DeFi) aggregation service that uses automation to enable investors to maximize profits from high-yield agriculture.

Data from Cointelegraph Markets Pro and Transaction view It shows that after hitting a low of US$18,844 on December 15, the price of YFI surged 56.48% to a daily high of US$29,488 on December 17, and its 24-hour trading volume soared 220% to US$844 million.

YFI/USDT 4-hour chart. Source: TradingView

YFI suddenly soared because the project showed that it has Buy back tokens since November After the community voted to improve YFI’s token economics. To date, the agreement has purchased 282.4 YFI at an average price of US$26,651 and stated that it will use the project’s US$45 million for further repurchase in the future.

Hxro function on the TD Ameritrade network

Hxro is a cryptocurrency options trading protocol running on Ethereum (Ethereum) Network and provide users with access to popular cryptocurrencies, including BTC, Ether, Dogecoin (dog) And Solana (Sol).

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for HXRO began to be discovered on December 14.

Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes, and Twitter activity.

VORTECS™ score (green) and HXRO price. source: Cointelegraph Markets Pro

As shown in the figure above, HXRO’s VORTECS™ score rose to the green zone on December 14 and reached a high of 77 around 45 hours before the price rose by 13.2% the next day.

The price increase of HXRO comes after the co-founder of Dan Gunsberg appeared on the TD Ameritrade Network Market close The podcast discusses the future of Bitcoin and the evolution of the broader cryptocurrency ecosystem.

related: New survey shows that 83% of millennial millionaires now own cryptocurrency

Arweave sets a new daily transaction record

Arweave is a decentralized storage network that aims to be the first truly permanent information storage network supported by sustainable resources.

VORTECS™ data from Cointelegraph Markets Pro has detected a bullish outlook for AR starting on December 14th, before the recent price increase.

VORTECS™ score (green) and AR price. source: Cointelegraph Markets Pro

As shown in the figure above, AR’s VORTECS™ score climbed to the dark green area on December 14 and reached a high of 77 in approximately 16 hours before the price rose by 40.78% in the next two days.

As the AR price rose, the number of transactions on the Bundlr network of the agreement reached a record high of 2.19 million transactions, which marked a 50-fold increase in the maximum daily transaction volume from less than a year ago.

The overall cryptocurrency market value is now 2.192 trillion U.S. dollars, and Bitcoin’s dominance rate is 40.6%.

The views and opinions expressed here only represent the views of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading action involves risk, and you should conduct your own research when making a decision.