The roller coaster ride that is the cryptocurrency market continued its volatile ways on Dec. 8 as Bitcoin (BTC) price briefly slipped below the $49,000 level. Despite the setback, there are still clear signs that crypto mass adoption is taking place, a prime example being Visa’s announcement that it will launch crypto consulting and advisory services for merchants and banks.
Analysts expect that Bitcoin will continue to search for firmer footing and while this process plays out, Ether and a handful of mid and low-cap altcoins are booking moderate gains.
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 Tezos (XTZ), WAX (WAXP) and Aleph.im (ALEPH).
Ubisoft launches NFTs on Tezos
Tezos is a layer-one blockchain protocol that includes a built-in mechanism that allows the network to evolve and upgrade over time without the need for hard forks.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for XTZ on Dec. 5, 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. XTZ price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for XTZ began to pick up on Dec. 4 and climbed to a high of 87 on Dec. 5, around 21 hours before the price increased 60.5% over the next two days.
The surge in XTZ price took place after Ubisoft, one of the top three video game companies, announced that it would be releasing its first line of in-game playable NFTs on the Tezos network, beginning with Ghost Recon: Breakpoint.
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