Crypto

FLUX, SFP, and BadgerDAO Remain on the Rise as Bitcoin Falls to $47K

FLUX, SFP, and BadgerDAO Remain on the Rise as Bitcoin Falls to $47K

The price of Bitcoin (BTC) continues to drop, but fresh exchange listings and protocol changes have given FLUX, SFP, and BADGER a much-needed lift.

The year-long prediction that the cryptocurrency market will see a blow-off peak in December has proven to be a bust so far, and most cryptocurrencies have been under sale pressure for the past week, with Bitcoin (BTC) struggling to trade over $47,000.

However, it wasn’t all bad news for crypto investors on Friday, as some altcoins saw double-digit gains as a result of fresh exchange listings and protocol enhancements.

Flux (FLUX), SafePal (SFP), and Badger DAO were the top gainers over the last 24 hours, according to data gathered from sites like Cointelegraph Markets Pro and TradingView (BADGER).

The “Binance bump” improves FLUX.

Flux is a GPU-minable proof-of-work (PoW) protocol that aims to build a scalable, decentralized cloud infrastructure for Web 3.0 applications.

Before the latest price spike, VORTECSTM statistics and NewsQuakesTM notifications from Cointelegraph Markets Pro began to detect an optimistic prognosis for FLUX on Dec. 9.

The VORTECSTM Score is an algorithmic assessment of past and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is exclusive to Cointelegraph.

The NewsQuakeTM system issued an alert for FLUX on Dec. 9, less than an hour before the price began to jump 150 percent the next day, as shown in the chart above.

The announcement that Binance would launch the FLUX token on its platform aided in the quick spike in the price of FLUX.

Related:  Examining How Solana Might Be Able to Compete With Ethereum and Bitcoin

FLUX’s price surged to a new all-time high of $4.01 shortly after this announcement.

SafePal now supports nine additional networks.

The SafePal project is cryptocurrency hardware and a software wallet for investors holding Ethereum, Binance Smart Chain, and Tron assets.

According to data from Cointelegraph Markets Pro and TradingView, after hitting a low of $1.55 on Dec. 6, the price of SFP has risen 45.84 percent to a daily high of $2.27 on Dec. 10, with a 50 percent increase in 24-hour trading volume to $158 million.

SFP’s popularity is growing as the project updated its wallet software to include support for Cardano, Nervos Network, Avalanche, Fantom, HECO Chain, Songbird, BOBA Network, Optimism, and Arbitrum.

The Badger DAO is getting ready to relaunch its smart contracts.

Badger DAO is an open-source decentralized autonomous organization that aims to improve the usability of Bitcoin in the decentralized finance landscape by developing products and infrastructure.

Before the latest price spike, VORTECSTM data from Cointelegraph Markets Pro began to detect a favorable prognosis for BADGER on Dec. 9.

The VORTECSTM Score for BADGER soared into the green zone and touched a high of 75 on Dec. 9, just three hours before the price increased 48 percent in one day, as shown in the chart above.

The favorable price action for BADGER comes as the protocol strives to recover from a December 2 exploit that caused the project’s smart contracts to be paused.

The overall cryptocurrency market capitalization is currently $2.218 trillion, with Bitcoin commanding 40.7 percent of the market.

The Author

Samuel Adeshina

Samuel is a financial reporter whose interests include blockchain, market, business, insurance, and Crypto to provide relevant information to all interested.