Today the price of Bitcoin and Ether (ETH) fell back to their underlying support levels following an exciting week that saw BTC skyrocket to a new all-time high after the successful launch of two exchange-traded funds (ETFs).
Although much of the attention has focused on the two main tokens in the market, several altcoins have racked up notable gains as some traders seem to be preparing for the possible start of a new altseason.
Data from Cointelegraph Markets Pro and TradingView shows that the best performing tokens in the last 24 hours were THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).
THORChain resumes operations on the Ethereum network
THORChain is a decentralized liquidity protocol that offers a cross-chain service to different blockchain networks, allowing users to maintain full custody of their assets while conducting transactions between networks.
According to data from Cointelegraph Markets Pro, market conditions for RUNE have been favorable for some time now.
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, trade volume, recent price movements and activity in Twitter
As seen in the chart above, RUNE’s VORTECS ™ score was hovering in the green zone for most of the past week and peaked at 74 on October 18, about 19 hours before its price increased by 60. % in the next two days.
RUNE’s renewed momentum comes after the resumption of operations on the Ethereum network, which had halted since the protocol was hacked for $ 8 million back in mid-July.
Moonriver expands its ecosystem
Moonriver is one of the recently launched parachain protocols by Kusama, this an Ethereum compatible smart contract platform that provides a permanently incentivized Canarian network.
Data from Cointelegraph Markets Pro and TradingView shows that, After hitting a low of $ 234 on October 19, MOVR’s price has risen 75% to hit an intraday high of $ 410 on October 22, just as its daily trading volume surpassed $ 59 million.
MOVR’s price rally is due to the project having established new partnerships in the cryptocurrency ecosystem, including a collaboration with The Graph protocol and an integration with SushiSwap.
OKEx launches a “meme coin” campaign
OKB is the native token of the Maltese cryptocurrency exchange, OKEx, and functions as a utility token for the platform’s ecosystem.
VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for OKB on October 21, ahead of the token’s appreciation.
As can be seen in the graph above, OKB’s VORTECS ™ score began to climb towards the green zone on October 21 and reached a high of 76, about nine hours before its price increased 25% the following day. .
According to Cointelegraph Markets Pro’s NewsQuakes ™ service, OKB’s rally came after the exchange enabled one-click USD Coin (USDC) staking, which offers a 20% return, as well as the launch of a meme coin campaign in which users can compete to have your favorite meme coins be included on the platform.
The total market capitalization of cryptocurrencies currently stands at $ 2.51 trillion and the dominance rate of Bitcoin is 45.5%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Each investment and commercial movement involves risks, you must do your own research when making a decision.
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