Crypto markets faced another day of struggle on Thursday as the price of Bitcoin (BTC) dropped to its “final support zone” near $31,000, which prompted traders to issue dire predictions about the future should bulls fail to hold this level.
Despite the struggles facing the crypto market at large, relatively obscure altcoins such as Aavegotchi (GHST), Centric Cash (CNS) and Alien Worlds (TLM) posted positive gains in the past 48 hours and appear to be in a stealth accumulation mode.
Aavegotchi volume spikes ahead of DinoSwap release
Aavegotchi (GHST) is a DeFi-focused nonfungible token (NFT) that operates on the Aave protocol and allows users to utilize in-game avatars called Gotchi’s as collateral to earn staking rewards.
Data from Cointelegraph Markets Pro and TradingView shows that the price of GHST has rallied 21% from a low of $0.997 on Wednesday to an intraday high at $1.21 on Thursday as its 24-hour trading volume doubled from the previous day.
A scroll through Aavegotchi’s Twitter feed indicates that the newfound enthusiasm for GHST is a result of the upcoming release of DinoSwap, a multi-chain farming protocol that helps to attract and build liquidity on existing automated market makers.