Bitcoin price neared the $50k mark on August 21, as prices rose to intraday highs of $49,821 for the first time since Mid-May. Analysts predict that Bitcoin could face resistance near the $50,000-$55,000 levels heading on.
Konstantin Anissimov, CEX.IO, the executive director believes the recent price rally is not indicative of a massive jump just yet. “The next major resistance, for now, is at the $50,000 zone,” The top CEO says. However, stating that a resurgence of buyers above the $50k mark could steer BTC price towards a target of $55,000. At the time of writing, Bitcoin was seen trading at $49,152.
Selected Altcoin tokens such as Avalanche (AVAX, + 27.21%), Cosmos (ATOM, +17.42%), Chiliz (CHZ, +10.99%), NEAR Protocol (NEAR, +34.60%), MyNeighborAlice (ALICE, +27.81%) were seen posting significant gains.
Avalanche (AVAX)
Avalanche is an open-source platform for launching DeFi applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche touts itself as ”the fastest smart contracts platform in the blockchain industry, as measured by time-to-finality.”
AVAX has climbed higher since July 21 when it hit lows at $9.25. AVAX has marked the seventh consecutive day in the green since Aug 15, a near 200% rally which led the price to highs of $50.92 on Aug 21.
A major price boost for AVAX remains the Avalanche Rush announced on Aug. 18, a $180 million liquidity mining incentive program launched in conjunction with Aave and Curve that is designed to introduce more applications and assets to its growing DeFi ecosystem.
Cosmos (ATOM)
Cosmos ATOM/USD is a decentralized ecosystem, made of independent blockchains, where ATOM is the proprietary staking coin used by the network. ATOM, the native token of the Cosmos blockchain, has rallied significantly since Aug.17 to mark the 5th consecutive day in the day. ATOM is up 19.09% in the last 24 hours and 52.07% weekly to trade at $22.51 as of press time.
Speaking on the ATOM climb, crypto analyst Scott Melker predicted that a clean break above the $17 resistance level could be giving “a very clear signal that this is entering a new uptrend.”
Chiliz (CHZ)
Chiliz (CHZ) is the digital asset for entertainment and sports, powering Socios.com, the world’s first blockchain-based sports platform for fan engagement & rewards. On August 18, the Chiliz network saw an addition to its ever-expanding Socios base, stating: ”We are extremely proud to announce that 6-time champions @chicagobulls have joined the fam.”
Chiliz is set to see a major exchange listing in the upcoming week which may impact its price. Bitstamp crypto exchange announced it will be listing Chiliz alongside Enjin coin on August 23. As of press time, Chiliz traded at $0.39, up 10.43% on the day.
NEAR Protocol (NEAR)
NEAR is a scalable, state-of-the-art blockchain protocol focused on usability for users and developers. The recent collaboration between Filecoin and Near Protocol, which enables decentralized applications built on Near to integrate Filecoin-based storage has helped boost NEAR price.
Notably, NEAR has gained nearly 132% since when August 10 when the news of the collaboration was announced, rising to highs of $5.99 on August 21. Recent events such as the launch of the MetaBUIDL Hackathon series (with a prize pool of $1M) have kept the price going. OP Games, a Web3 project built on NEAR, is also set to revolutionize gaming by creating games that merge NFTs and DAOs to empower users to take control of the games they love.
My NeighborAlice (ALICE)
Gaming token, My NeighborAlice (ALICE) has registered an uptick of 29.88% in the last 24 hours and 31.80% on a 7-day basis. With a market cap of $392million, ALICE was valued at $17 at press time.
On August 31st, ALICE token holders around the world will be able to participate in an open playtest of a pre-alpha version of the game where players will be able to try the introductory chapter of My Neighbor Alice.
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