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Listings on major exchanges spark a 40% rally on Steem, TrustSwap and 0x

Cryptocurrency market sentiment is on the up after small gains from Bitcoin (BTC) and altcoins suggest the market may be in the process of a bullish breakout.

A handful of altcoins are also gaining momentum, and a round of new partnership announcements appear to underpin April 21’s 40% gains in select assets.

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Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours have been Steem (STEEM), TrustSwap (SWAP), and 0x (ZRX).

Binance lists STEEM

The community-focused blockchain network Steem is the underlying chain for the social media platform Steemit, which allows users to earn rewards for their contributions and interactions within the community.

Data from Cointelegraph Markets Pro and TradingView shows that the price of STEEM hit a low of $0.344 on April 20 and then surged 77.16% to hit an intraday high of $0.61 on April 21 when its 24-hour trading volume exploded.

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STEEM/USDT 4 hour chart. Source: TradingView

The sudden surge in momentum and trading volume for STEEM follows an announcement by the Binance exchange that it is adding support for the STEEM/USDT trading pair.

TrustSwap trades on Bithumb

TrustSwap is a decentralized financial protocol that specializes in creating multi-chain token swaps and offers a variety of other features including staking, the ability to mint new tokens, and an internal launchpad.

Cointelegraph Markets Pro VORTECS™ data began showing a bullish outlook for SWAP on April 16, ahead of the recent price rally.

Exclusive to Cointelegraph, the VORTECS™ Score is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements, and Twitter activity.

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VORTECS™ Score (green) vs. SWAP price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for SWAP turned green, peaking at 75 on April 16, about 65 hours before the price surged 120.96% over the next three days.

The rally in SWAP price follows a new listing on South Korean cryptocurrency exchange Bithumb and increased efforts to commercialize the protocol’s minting module, which allows users to easily create cryptocurrency and mine it on the BNB Smart Chain as well as Ethereum and Polygon to launch blockchains.

Related: Coinbase plans $3.2bn purchase of crypto exchange BtcTurk: report

0x partners with Coinbase

ZRX is a decentralized exchange infrastructure protocol specialized in facilitating the trading of assets on the Ethereum blockchain without having to rely on central intermediaries.

Cointelegraph Markets Pro VORTECS™ data began spotting a bullish outlook for ZRX on April 19, ahead of the recent price surge.

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VORTECS™ Score (green) vs. ZRX price. Source: Cointelegraph Markets Pro

As shown above, the VORTECS™ score for ZRX hit a high of 75 on April 19th, just an hour before the price began to rally 71.56% higher over the next two days.

The rapid rise in ZRX price followed an announcement that Coinbase had partnered with 0x to power their new social marketplace for non-fungible tokens, or NFTs.

The total cryptocurrency market cap is now $1.94 trillion and Bitcoin’s dominance rate is 41.3%.

The views and opinions expressed herein 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 do your own research when making a decision.