Rallies in Avalanche and Audius are sparked by multimillion-dollar investment rounds

  • The price of AVAX, CELR, and AUDIO is rising because of the increased use of cross-chain bridges and large investments from a number of venture capital groups
  • According to data, market conditions for AUDIO have been favorable for some time. The VORTECSTM Score for AUDIO was in the green for much of the previous week, reaching a high of 77 on Sept. 14, about 22 hours before the price surged 38 percent the next day, as shown in the chart above
  • Market conditions for AVAX have also been good for some time, according to data. Celer Network is a layer-two scaling solution that uses off-chain transaction processing to boost network scalability and transaction performance

The price of AVAX, CELR, and AUDIO is rising because of the increased use of cross-chain bridges and large investments from a number of venture capital groups. On September 16, altcoins continued to see significant increases, thanks to a flood of celebrity endorsements, big investments, and the rising popularity of cross-chain bridges. Audius (AUDIO), Avalanche (AVAX), and Celer Network were the top gainers in the last 24 hours, according to data. The Audius platform is a decentralized music-sharing and streaming protocol that aims to cut out the middleman from the music industry and allow fans, subscribers, and creators to interact with each other directly.

According to data, market conditions for AUDIO have been favorable for some time. The VORTECSTM Score for AUDIO was in the green for much of the previous week, reaching a high of 77 on Sept. 14, about 22 hours before the price surged 38 percent the next day, as shown in the chart above. Following the revelation that many well-known singers, including Katy Perry, Nas, and The Chainsmokers, had taken part in a $5 million strategic investment round for Audius, the stock’s price and trading volume skyrocketed. Avalanche (AVAX) is a layer-one protocol that has gained popularity in 2021 because of its cheap fees and the launch of the Avalanche Rush incentive scheme, which has drawn investors and liquidity from the Ethereum (ETH) network. 

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Market conditions for AVAX have also been good for some time, according to data. Celer Network is a layer-two scaling solution that uses off-chain transaction processing to boost network scalability and transaction performance. Before the current price surge, began to indicate a strong prognosis for CELR on Sept. 14. The VORTECSTM Score for CELR surged into the green zone and hit a high of 73 on Sept. 14, just as the price began to rise by 59 percent over the next two days, as seen in the chart above. Investors are using the Celer bridge to migrate tokens from several blockchains, including the recently released Arbitrum solution, which is driving up demand for CELR. Celer’s bridge also provides a workaround for the existing seven-day withdrawal process necessary to withdraw assets from Arbitrum. The total cryptocurrency market capitalization is currently $2.161 trillion, with Bitcoin commanding 41.4 percent of the market.

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Andrew Smithhttp://thecoinrepublic.com
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing

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