Why These Altcoins Are Trending Today — January 14

The cryptocurrency market has surged today, driven by a 69% increase in trading volume over the past 24 hours. This heightened activity has propelled the overall market value upwards, with several altcoins recording gains. 

ai16Z (AI16Z), Virtuals Protocol (VIRTUAL), and aixbt by Virtuals (AIXBT) are some of the altcoins trending today with notable price rallies.

ai16Z (AI16Z)

During Tuesday’s early Asian session, a crypto whale withdrew 5.64 million AI16Z tokens, valued above $6 million, from Gate.io. This transaction adds to the whale’s growing holdings, which now stand at 15.95 million AI16Z, worth approximately $17.86 million.

Exchange outflows such as this are considered bullish signals because they indicate that investors are moving their assets off exchanges, signaling a reduced intention to sell. This decrease in sell-side liquidity can create upward price pressure, especially if demand remains steady or increases.

This has played out with AI16Z, whose value has climbed 16% in the past 24 hours. If the positive momentum lingers, its price could revisit its all-time high of $2.50. However, a shift in market trends will invalidate this bullish thesis. In that case, AI16Z’s price could plunge to $0.68. 

Virtuals Protocol (VIRTUAL)

VIRTUAL, the native token that powers the decentralized platform for the creation and monetization of AI agents, Virtuals Protocol, is one of the trending altcoins today. It currently trades at $2.72, noting a 16% price surge over the past 24 hours. 

The token’s rising Balance of Power (BoP) indicates that its rally is backed by actual demand from market participants. As of this writing, the indicator is in an upward trend at 0.26.

The BoP measures the strength of an asset’s buyers and sellers. When it rises during a rally, it suggests that buyers are gaining dominance, reinforcing the uptrend and indicating strong bullish sentiment.

If this continues, VIRTUAL’s price could rally to its all-time high of $5.25, which it last traded at on January 2. Conversely, a decline in token accumulation could cause VIRTUAL’s price to drop to $1.31.

aixbt by Virtuals (AIXBT)

AI agent altcoin AIXBT is another asset trending today. It trades at $0.56 and has experienced a 39% price hike in the past 24 hours. 

On the daily chart, its Elder-Ray Index is positive at 0.05. This indicator measures the strength of bulls and bears by comparing the high and low prices to an exponential moving average (EMA). When the index is positive, it indicates that bulls are dominating the market, suggesting upward pressure and a bullish trend.

AIXBT’s price could rally to its all-time high of $0.66 if this bullish trend persists. On the flip side, if bearish pressure strengthens, this will pull its price back to $0.46.