Altcoins breakout even as Bitcoin price falls to $60,000
Today Bitcoin (BTC) price and Ether (ETH) price pulled back to lower support levels afterwards an exciting week that saw BTC soar to a new all-time high after the successful launch of two exchange-traded funds.
While much of the focus has been on BTC and Ether, multiple altcoins accept racked up notable gains on as some traders announced be preparing for a possible altseason run.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the by 24 hours were THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).
THORChain resumes trading on the Ethereum network
THORChain is a decentralized liquidity protocol that offers cantankerous-chain access to unlike blockchain networks and lets users retain full custody of their avails while transacting betwixt networks.
According to data from Cointelegraph Markets Pro, market conditions for RUNE take been favorable for some time.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current marketplace conditions derived from a combination of data points including market sentiment, trading volume, contempo price movements and Twitter activity.
As seen in the chart above, the VORTECS™ Score for RUNE has been elevated in the green zone for the majority of the past week and reached a high of 74 on Oct. 18, around 19 hours earlier its cost increased threescore% over the next two days.
The renewed momentum for RUNE comes following the resumption of trading on the Ethereum network, which had been halted since the protocol suffered an $8 million hack back in July of 2022.
Moonriver expands its ecosystem
Moonriver is one of the newly-launched Kusama parachain protocols that is an Ethereum-compatible smart-contract platform that provides a permanently incentivized canary network.
Information from Cointelegraph Markets Pro and TradingView show that after hitting a low of $234 on Oct. 19, the price of MOVR has surged 75% to an intraday high at $410 on Oct. 22 as its 24-hr trading volume climbed above $59 million.
The rally seen in the price of MOVR comes as the projection has established new partnerships across the cryptocurrency ecosystem, including a collaboration with the Graph protocol and integration with SushiSwap.
Related: Valkyrie Bitcoin futures-linked ETF launches on Nasdaq, with share prices dropping iii% in commencement hour
OKEx launches a meme-money campaign
OKB is the native token of the Republic of malta-based cryptocurrency exchange OKEx and it functions as the utility token for the OKEx ecosystem.
VORTECS™ data from Cointelegraph Markets Pro began to notice a bullish outlook for OKB on Oct. 21, prior to the recent price rise.
As seen in the chart higher up, the VORTECS™ Score for OKB began to rise into the green on October. 21 and reached a high of 76, effectually nine hours earlier its price increased 25% over the next 24-hour interval.
According to the NewsQuakes™ service from Cointelegraph Markets Pro, the rally in OKB came after the commutation enabled one-click staking for USD Coin (USDC), which offers a return of 20% as well every bit the launch of a meme-money entrada where users can compete to take their favorite meme coins listed on the commutation.
The overall cryptocurrency marketplace cap now stands at $ii.51 trillion and Bitcoin's authorization rate 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. Every investment and trading move involves risk, you should conduct your ain research when making a determination.
Source: https://cointelegraph.com/news/altcoins-breakout-even-as-bitcoin-price-falls-to-60-000
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