The cryptocurrency market is in a state of confusion on Jan. 31 as many traders view Bitcoin’s (BTC) weakness as a sign that a crypto winter is beginning, yet increasing news of adoption and multi-million-dollar financing rounds continue to make headlines on a regular basis. 

As Bitcoin trades at $38,500, analysts are highlighting the current price action as a possible buy zone and this bullish sentiment is spilling into altcoins also.

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 DerivaDAO (DDX), Telos (TLOS) and Bonfida (FIDA).

DerivaDAO sees a 3,692% increase in trading volume

DerivaDAO is a decentralized exchange for derivatives that operates on the Ethereum (ETH) network.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for DDX Jan. 25, 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 (grey) vs. DDX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for DDX hit a high score of 70 on Jan. 25, around 62 hours before the price increased 102% over the next three days.

The surge in DDX price comes amid a 3,692% increase in trading volume for the token, with more than $13 million in volume coming from the…

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