Bitcoin (BTC) bulls took another beating on Dec. 17 as a midday onslaught dropped the toll to $45,500. The price did manage a quick bounce back to $47,000 simply sweeping a new daily low could be a sign that additional downside is in store.

Amid the wider market downturn, several altcoins provided weary traders with a source of refuge as token buybacks and increased network activity helped eternalize their prices and provide shelter from the tempest.

Peak 7 coins with the highest 24-60 minutes toll alter. Source: Cointelegraph Markets Pro

Information from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were Yearn.finance (YFI), Hxro (HXRO) and Arweave (AR).

YFI benefits from token buybacks

Yearn.finance is a decentralized finance (DeFi) aggregator service that utilizes automation to allow investors to maximize their profits from yield farming.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a depression of $18,844 on Dec. 15, the price of YFI shot upward 56.48% to a daily loftier of $29,488 on Dec. 17 equally its 24-hour trading book spiked 220% to $844 million.

YFI/USDT 4-hour chart. Source: TradingView

The sudden surge higher in YFI comes as the project revealed that information technology has been buying dorsum tokens since November after the community voted to amend the tokenomics for YFI. To engagement, the protocol has purchased 282.4 YFI at an average price of $26,651 and has indicated that farther buybacks will exist conducted in the future using funds from the project's $45 one thousand thousand treasury.

Hxro features on the TD Ameritrade Network

Hxro is a cryptocurrency options trading protocol that operates on the Ethereum (ETH) network and offers users access to popular cryptos including BTC, Ether, Dogecoin (DOGE) and Solana (SOL).

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for HXRO on Dec. 14, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market place atmospheric condition derived from a combination of information points including market sentiment, trading volume, recent price movements and Twitter activeness.

VORTECS™ Score (green) vs. HXRO price. Source: Cointelegraph Markets Pro

Equally seen in the chart to a higher place, the VORTECS™ Score for HXRO elevated into the green zone on December. fourteen and reached a high of 77 around 45 hours before the price increased 13.2% over the side by side day.

The boost in HXRO cost comes after the co-founder of Dan Gunsberg was featured on the TD Ameritrade Network'south Marketplace on Close podcast discussing the futurity of Bitcoin and the development of the wider cryptocurrency ecosystem.

Related: New survey reveals 83% of millennial millionaires now own crypto

Arweave sets a new daily transaction record

Arweave is a decentralized storage network designed to exist the first truly permanent information storage network that is backed by a sustainable endowment.

VORTECS™ data from Cointelegraph Markets Pro began to discover a bullish outlook for AR on December. xiv, prior to the contempo price rise.

VORTECS™ Score (green) vs. AR price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for AR climbed into the night green zone on December. fourteen and hitting a high of 77 around sixteen hours before the toll increased 40.78% over the next two days.

The move higher in the cost of AR comes every bit the transaction count on the protocol's Bundlr Network striking a new all-fourth dimension high of 2.19 one thousand thousand transactions which marked a 50x increase in the maximum daily transactions from less than a yr ago.

The overall cryptocurrency market cap now stands at $2.192 trillion and Bitcoin'south dominance rate is 40.6%.

The views and opinions expressed hither are solely those of the author and do non necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should acquit your own research when making a conclusion.