QSP, XDB and AST post double-digit gains amid sideways moving market

Activity across the cryptocurrency market has been largely subdued on April 15 as traders in the United States have taken an early weekend thanks to the closure of financial markets for the observance of Good Friday.

A survey of the top 20 tokens indicates a relatively flat trading day, with Bitcoin (BTC) clinging to support above $40,000. Several lower-ranking altcoins managed to post double-digit gains on the back of recent protocol developments.

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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 were Quantstamp (QSP), DigitalBits (XDB) and AirSwap (AST).

Quantstamp launches NFT Combinator

Blockchain security and code audit provider Quantstamp led the altcoin charge as its token price spiked 35% on April 15 to reach a daily high of $0.0804.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for QSP on April 14, prior to the recent price rise.

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

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

As seen in the chart above, the VORTECS™ Score for QSP spiked into the green and hit a high of 76 on April 14, around three hours before the price increased 35% over the next day.

The move higher for QSP follows the launch of NFT Combinator, a new platform created by Quantstamp that is designed to help incubate up-and-coming digital artists and help them launch their early collections.

DigitalBits partners with David Beckham

DigitalBits is a protocol layer blockchain that is specifically designed to support brand currencies and consumer digital assets.

Data from Cointelegraph Markets Pro and TradingView shows that the price of XDB has climbed 28% from a low of $0.317 on April 14 to an intraday high at $0.404 on April 15, as its 24-hour trading volume spiked 162%.

XDB/USDT 4-hour chart. Source: TradingView

XDB’s momentum was sparked by the signing of well-known footballer David Beckham as the global ambassador for DigitalBits to help spread awareness of the project around the world.

Related: President Biden announces former Ripple adviser as pick for Fed vice chair for supervision

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Airswap launches on Avalanche

The Airswap protocol is a developer-focused decentralized autonomous organization (DAO) that specializes in the creation of decentralized trading systems.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AST on April 12, prior to the recent price rise.

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

As shown in the chart above, the VORTECS™ Score for AST hit a high of 76 on April 12, around 60 hours before the price increased 24% over the next day.

The price reversal for AST follows the March 30 launch of AirSwap v3 and the protocol’s April 15 integration with the Avalanche network, which offers AirSwap users lower transaction fees when performing token swaps.

The overall cryptocurrency market cap currently stands at $1.877 trillion and Bitcoin’s dominance rate is 40.9%.

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.