Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

Increased use of cross-chain bridges and sizeable investments from quite a lot of enterprise capital corporations are boosting the value of AVAX, CELR and AUDIO.

Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

Altcoins proceed to e-book notable features on Thursday as a slew of celeb endorsements, main investments and the rising recognition of cross-chain bridges catch traders’ consideration.

Data from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24-hours have been Audius (AUDIO), Avalanche (AVAX) and Celer Network (CELR).

Superstars make investments in Audius

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

According to information from Cointelegraph Markets Pro, market situations for AUDIO have been favorable for a while.

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

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

The spike in value 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 due to its low charge atmosphere and launch of the “Avalanche Rush” incentive program which has attracted traders and liquidity from the Ethereum (ETH) community.

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According to information from Cointelegraph Markets Pro, market situations for AVAX have additionally been favorable for a while.

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

The increase in value 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 spherical to the Avalanche ecosystem.

Celer Network sees a surge from its bridge to Arbitrum

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

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

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

The improve in demand for CELR comes as traders 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 7-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 fee is 41.4%.

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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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