Small cap altcoins flash bullish signals even as Bitcoin revisits $42.5K

The cryptocurrency market faced another day of erratic price action on January 13th after the Bitcoin (BTC) bulls conspicuously rejected their bid to push the price above $44,000. This led to a sudden selloff that pushed the price back into the high $42,000 range.

Despite the mid-day struggle that Bitcoin and many other large-cap cryptocurrencies faced, many cryptocurrencies with a small cap were able to make significant gains.

Top 7 currencies with the highest price change in 24 hours. source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the top three gainers over the past 24 hours are Cream Finance (CREAM), Electroneum (ETN) and Rari Governance Token (RGT).

CREAM token holders qualify for Iron Bank Token

Cream Finance, a lending protocol from DeFi, led the altcoin market with a gain of over 35% after 24-hour trading volume rose 365% to $75.2 million.

Data from Cointelegraph Markets Pro and TradingView shows that after dropping to $37.10 on January 10, CREAM price jumped 112% to a daily high of $78.65 on January 13 as 24-hour trading volume jumped 351% to $75.3. Million.

CREAM/USDT 4-hour chart. Source: TradingView

The price hike follows the announcement that CREAM token holders can now qualify to receive the upcoming Iron Bank token by putting their CREAM on the protocol for an extended lock-up period.

Electroneum focuses on the temporary job economy

Mobile-based cryptocurrency platform Electroneum has seen the original ETN token price skyrocket by 75% to $0.0134 over the past day with 24-hour trading volume up 1,552%.

VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for ETN on January 11th, ahead of the recent price rally.

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

VORTECS™ result (in grey) vs ETN price. source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS™ result for ETN hit a high of 70 on January 11, about 4 hours before the price surged 77.5% over the next two days.

The sudden rise in ETN trading volume and price comes as the project has refocused its efforts on marketing its standalone AnyTask™ platform. This has also helped contribute to the high score of VORTECS™ for ETN which is at 80 at the time of writing.

Related: The Bitcoin Cycle Isn’t Over Yet Miners Have Been In It For A Long Time: Fidelity Report

Rari Capital Adds New Fuse Complex

Rari Capital is a non-security DeFi robo-advisor that enables users to independently earn a return on their crypto holdings and uses RGT to conduct governance votes on the protocol.

VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for RGT on January 9, ahead of the recent price rally.

VORTECS™ result (in green) vs. RGT price. source: Cointelegraph Markets Pro

As shown in the chart above, the VORTECS™ result for RGT climbed into the green on January 9 and reached a high of 83 in about 21 hours before the price started to rise by 60.35% over the next three days.

RGT’s price hike follows the launch of several new Fuse pools in Rari Capital for popular ventures including OlympusDAO, Babylon Finance and BadgerDAO.

The total cryptocurrency market capitalization now stands at $2.041 trillion and the bitcoin dominance rate is 39.8%.

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