Ankr Network, Stacks and Kadena rebounded, while most altcoins are cooling


Even though the price of Bitcoin is about to hit a record high, as investors wait for the official launch of the first Bitcoin, the cryptocurrency market projected an atmosphere of anxiety and optimism on October 18.Bitcoin) Exchange Traded Fund (ETF) Yes Will start trading on October 19.

While the market waits for the launch of the historic ETF, the BTC bulls are struggling to maintain the $62,000 level as support. At the same time, a small number of altcoins saw double-digit gains on Monday, as traders may want to take advantage of the benefits they provide when Bitcoin prices consolidate.

The top 7 tokens with the largest price changes in 24 hours. source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro with Transaction view The biggest gains in the past 24 hours are Ankr Network (ANKR), Stacks (STX) and Kadena (KDA).

Ankr Network cooperates with the Sacramento Kings

Ankr Network’s blockchain solution aims to use the idle computing power of equipment and data centers from all over the world to power the crypto ecosystem.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANKR on October 17, before the recent price increase.

Cointelegraph’s unique VORTECS™ score is an algorithmic comparison of historical and current market conditions. These data points include a combination of market sentiment, trading volume, recent price changes, and Twitter activity.

VORTECS™ score (green) and ANKR price. source: Cointelegraph Markets Pro

As shown in the figure above, ANKR’s VORTECS™ score began to rise on October 17, and climbed to a high of 70 approximately four hours before the price soared by 46% the next day.

The price increase of ANKR comes after the project reached a multi-year sponsorship agreement with the Sacramento Kings of the National Basketball Association (NBA).

Stacks has made progress in launching Bitcoin smart contracts

Stacks is a first-layer blockchain solution that focuses on introducing smart contracts and decentralized applications into the Bitcoin network.

VORTECS™ data from Cointelegraph Markets Pro has detected a bullish outlook for STX from October 11, before the recent price increase.

VORTECS™ score (green) and STX price. source: Cointelegraph Markets Pro

As shown in the figure above, STX’s VORTECS™ score began to rise on October 11, and reached a high of 88 approximately 5 hours before the price starts to rise by 55% next week.

As STX’s popularity rises, multiple BTC ETFs may be launched, which makes the broader investment community excited about the possibility of smart contract features on the Bitcoin network.

related: Grayscale confirmed the Bitcoin ETF plan and added exposure to Zcash, Stellar Lumens and Horizen in its trust

Kadena adds NFT function

Kadena prices have also seen a bullish trend in the past 24 hours.

Data from Cointelegraph Markets Pro with Transaction view It shows that after hitting a low of $2.14 on October 16, the price of KDA rose by 30% to a daily high of $2.79 on October 18, and its 24-hour trading volume soared by 313% to $9.4 million.

KDA/USDT 4-hour chart. Source: TradingView

The increase in KDA’s momentum came after the agreement with Immutable Records, which will bring a complete NFT market to the Kadena ecosystem.

The overall market value of cryptocurrencies is now $2.462 trillion, and Bitcoin’s dominance rate is 47.2%.

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