Bitcoin'south (BTC) recent institutional investor-driven rally has steadily pushed its price to new all-fourth dimension highs and while investors are intensely focused on BTC'due south cost action, a number of altcoins have as well secured new multi-year highs.

On. Feb. 10, the total crypto market place capitalization hit a new high at $one.42 trillion less than a calendar week after Tesla disclosed that it purchased $i.five billion worth of BTC.

Despite being the center of attention for the past few months, Bitcoin's market dominance has actually decreased from 70.2% on January. 13 to its current reading at 61.5%. Historical data shows that when Bitcoin potency falls and its price enters a consolidation phase, altcoins accept a tendency to rally higher.

Bitcoin might exist taking a breather to gather strength for the next leg up into uncharted territory, but here'southward a few of the recent big performers that could soar higher in the brusque term.

AVAX/USDT

AVAX/USDT iv-hr chart. Source: TradingView

Avalanche (AVAX) toll exploded higher in the past 24-hours, increasing by 77% from a price of $27.67 on February. nine to its current cost of 50.89.

The electric current move has been driven by growing investor optimism over the recent launch of an Avalance-Ethereum span that allows DeFi users to "pursue yield opportunities with the same assets beyond these two complementary ecosystems."

In the 24-hours following the launch of the bridge, $6.5 one thousand thousand worth of assets were moved from Ethereum to Barrage co-ordinate to the customs-based DEX Pangolin, which operates on the Avalanche network. This effigy has connected to increase and now stands at $48.2 million.

Pangolin DEX liquidity. Source: Pangolin

With fees on the Ethereum network showing no sign of decreasing until Eth2 becomes more established, AVAX and its Pangolin exchange are aiming to pull liquidity from Ethereum-based DEXs in order to increase its user base.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for AVAX on Feb 5th, prior to the contempo price ascension. The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of celebrated and electric current market atmospheric condition derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

Cointelegraph Markets Pro - VORTECS™ Score (light-green) vs. AVAX Price

MATIC/USDT

MATIC/USDT 4-hour chart. Source: TradingView

MATIC is some other layer-2-based blockchain that aims to draw new users and DeFi protocols looking for an culling to the Etheruem network.

Since Feb. 4 MATIC price increased from $0.04 to $0.1248 following the project'southward rebranding to Polygon on Feb nine. Co-ordinate to the team, Polygon aspires to become the "Polkadot of Ethereum".

The rebrand comes as Ethereum challengers similar Polkadot begin to ascent in prominence and threaten to eat away at the top altcoin'due south market share. The new Polygon platform is beingness sold every bit a layer-2 aggregator that supports diverse Ethereum scalability solutions, including Optimistic Rollups, ZkRollups and StarkWare's Validium.

While the project offers a similar solution to what Polkadot (DOT), Cosmos (Atom) and Avalance offer, its Ethereum-centric architecture allows information technology to do good from the established network result and security offered on the Ethereum blockchain.

CELO/USDT

CELO/USDT iv-60 minutes nautical chart. Source: TradingView

Celo (CELO) experienced a price spike of 50.26% on February.10, increasing from $three.54 to its current value of $v.22, following a "zkSNARK anniversary" that took place on Feb. 8.

Originally a fork of the Become-Ethereum codebase, Celo has since implemented a pBFT-based PoS consensus protocol which allows the protocol to process and achieve consensus on blocks extremely quickly. This allows for high transactions per second (TPS) while maintaining a secure, decentralized network of validators.

With a mobile-focused platform that is designed to increase cryptocurrency adoption amid smartphone users, Celo is now benefiting from being Ethereum Virtual Machine (EVM) uniform equally loftier gas fees plague the Ethereum network and push button users to look for feasible alternatives.