Volatility is back in full force in the cryptocurrency market and Bitcoin (BTC) price has seen several $1,000 swings in recent days and some altcoins have seen their prices rise to new highs after major announcements.
The big winners on March 31 include protocols that focus on interoperability between major blockchain networks, as well as projects looking to release major updates in the near future.
Data of Cointelegraph Markets Pro and TradingView show that the tokens that rose the most in the last 24 hours were SKALE Network (SKL), IOST and Celer Network (CELR).
SKALE Network prepares to release v2.0
SKALE is a native Ethereum (ETH) multi-chain scaling network focused on helping run Solidity smart contracts at higher speeds for a fraction of the cost compared to operating on the Ethereum mainnet.
Data from Cointelegraph Markets Pro and TradingView shows that SKL price soared 141% from a low of $0.1374 on March 25 to an intraday high of $0.3322 on March 31 amid a 100% increase in their 24-hour trading volume.
The sudden surge of interest in SKL comes before the release of SKALE v2.0 and increased exposure for the project at a recent NFTLA networking event hosted by Blockdaemon.
IOST Announces EVM Support
IOST is a decentralized blockchain network that implements a “proof of credibility” consensus protocol to achieve higher processing speeds than competing networks.
Cointelegraph Markets Pro’s VORTECS™ data began spotting a bullish outlook for IOST on March 26, prior to the recent price rally.
Cointelegraph’s exclusive VORTECS™ Score is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements, and trading activity. Twitter.
As seen in the chart above, the VORTECS™ Score for IOST began to rise on March 26, about two hours before the price began to rise 112% over the next five days.
The surge in demand for IOST came after the protocol unveiled Project Entroverse, which will bring Ethereum Virtual Machine (EVM) support to the IOST network and allow assets and applications to migrate between the two networks with ease.
Celer Network switches to BNB Smart Chain
Celer Network is a layer two scaling solution that employs off-chain transaction handling as a way to help increase processing speeds and lower transaction costs.
VORTECS™ data from Cointelegraph Markets Pro began spotting a bullish outlook for CELR on March 29, prior to the recent price rally.
As seen in the chart above, the VORTECS™ Score for CELR turned green on March 29 and reached a high of 82 around nine hours before the price surged 41.48% over the next day.
The higher move for CELR follows the revelation that the network was chosen to become the official interoperability layer of the BSC Application Sidechain (BAS) in the BNB Smart Chain (BSC).
The total cryptocurrency market capitalization currently stands at $2.097 trillion and the dominance rate of Bitcoin is 41.7%.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should do your own research when making a decision.
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