Bitcoin (BTC) started the new month strong and on December 1 it rose to $ 59,053, suggesting that the bulls are beginning to shed fears raised by the Fed’s downsizing talks and the emergence of a new strain of COVID-19.
Altcoins also saw their prices skyrocket and the first hopes of a possible “Santa Claus rally” are circulating on Twitter.
Data from Cointelegraph Markets Pro and TradingView show that the biggest winners in the last 24 hours were Request Network (REQ), Bifrost (BFC) and SafePal (SFP).
Request Network transactions hit an all-time high
Request Network (REQ) is an Ethereum-based decentralized payment system that allows users to send and receive funds through secure channels without the need for an intermediary.
VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for REQ on November 28, ahead of the recent price spike.
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, trading volume, recent price movements, and trading activity. Twitter
As seen in the chart above, the VORTECS ™ Score for REQ climbed into the green zone on November 28 and peaked at 81 around 57 hours before the price rose 98% the following day.
The rebound in REQ’s price comes as network activity increases and the number of transactions increased 32% in November. The current count has the transaction count down 46.34% in the last 30 days and 67.32% in the last 90 days.
Bifrost launches ChainRunner Q
Bifrost (BFC) is a multi-chain middleware platform that enables developers to create decentralized applications (DApps) capable of operating on multiple protocols.
Data of Cointelegraph Markets Pro and TradingView show that After hitting a low of $ 0.35 in the first trading hours of December 1, BFC price rose 56.84% to an intraday high of $ 0.556, just when its daily trading volume surpassed USD 130 million.
The jump in BFC price comes as the Bifrost protocol released its long-awaited ChainRunner Q protocol, which gives users access to pre-defined decentralized finance strategies (DeFi), as well as the ability to deposit, borrow, transfer, buy, and leverage their cryptocurrency holdings.
SafePal adds support for nine new blockchains
SafePal (SFP) is a cryptocurrency wallet that offers hardware and software options for investors who own assets from the Ethereum, Binance Smart Chain, and Tron ecosystem.
VORTECS ™ data from Cointelegraph Markets Pro began to spot a bullish outlook for SFP on November 29, ahead of the recent price spike.
As seen in the chart above, the VORTECS ™ Score for SFP spiked into the green zone on November 29 and peaked at 81 around 41 hours before the price rose 38% over the next day.
SFP’s rising pricing follows the announcement that the project added support for Cardano, Nervos Network, Fantom, Avalanche, HECO Chain, Boba Network, Arbitrum, and Optimism.
Total cryptocurrency market capitalization currently stands at $ 2.67 trillion and Bitcoin’s dominance index is 41.2%.
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 trade move involves risk, you should do your own research when making a decision.
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