Bitcoin Struggles While NEM, District0x, and Augur Prices Push Higher

Sahaj  |  Jul 17, 2021

Bitcoin is marching towards the end of another week along with the price dip close to the level of $30K but altcoins such as Augur, District0x, and NEM on the other hand are showing different signs. As witnessed on Friday, these altcoins managed to give double-digit returns before the closing of the traditional market for the weekend. 

Bitcoin Plunges While Small Cap Altcoins Such As NEM, District0x, And Augur Surges

It should be noted that among the top seven gainers in the market, the four are layer-one protocols, which can be considered an interesting development that comes at a time when the price of Ethereum is struggling to cross the level of $2K. 

As far as the community behind Ethereum is concerned, the community is eagerly waiting for the London hard fork and the expectations that it may improve the condition of the asset in terms of price.

Data released from the leading market data aggregators show that after a month where the average trading volume for NEM was $50 million, the interest and demand for the token spiked on July 16 as the trading volume surged to the mark of $532 million and the price of the coin rallied to $0.151.

Other Altcoins Outperformed The Flagship Currency

Moving further to the next altcoin, which is REP, it began to rise on July 13 following the spike in the 24-hour trading volume from the daily average of $17 million to over $521 million on July 14.

Marking the third-largest gainer in the market, it was District0x, which is a protocol that bills itself as a network of decentralized markets and communities and excels in assisting users to launch their own decentralized autonomous organizations.

In addition to this, it should be noted that the trading volume of DNT surged from $3 million to over $60 million on Friday.

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