Even if Bitcoin price drops to $60,000, altcoins will still break through


Bitcoin price and Ethereum today (Ethereum) After an exciting week, the price fell back to a lower support level Bitcoin After the successful launch of two exchange-traded funds, the stock price soared to a record high.

Although most of the attention has been focused on BTC and Ether, as some traders seem to be preparing for the possible operation of the altcoin season, a variety of altcoins have achieved significant gains.

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

Data from Cointelegraph Markets Pro with Transaction view Show that the biggest gains in the past 24 hours are THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).

THORChain resumes transactions on the Ethereum network

THORChain is a decentralized liquidity protocol that provides cross-chain assets for different blockchain networks and allows users to retain full custody of their assets when transacting between networks.

According to the data from Cointelegraph Markets ProFor some time, RUNE’s market conditions have been very favorable.

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 RUNE price. source: Cointelegraph Markets Pro

As shown in the figure above, for most of the past week, RUNE’s VORTECS™ score has been rising in the green zone, and reached a high of 74 on October 18th. After about 19 hours, its price will be in the next period of time. It has risen by 60% for two days.

The new momentum of RUNE came after the Ethereum network resumed transactions, and the network has ceased since the agreement was hacked by USD 8 million in July 2021.

Moonriver expands its ecosystem

Moonriver is one of the newly launched Kusama parachain protocols. It is an Ethereum-compatible smart contract platform that can provide a permanent incentive canary network.

Data from Cointelegraph Markets Pro with Transaction view It shows that after hitting a low of $234 on October 19, the price of MOVR surged 75% to an intraday high of $410 on October 22, and its 24-hour trading volume climbed to more than $59 million.

MOVR/USDT 4-hour chart. Source: TradingView

As the price of MOVR rises, the project has established new partnerships across the entire cryptocurrency ecosystem, including cooperation with The Graph protocol and integration with SushiSwap.

related: Valkyrie Bitcoin futures-linked ETF listed on NASDAQ, the stock price fell 3% in the first hour

OKEx launches meme coin campaign

OKB is a native token based on the Maltese cryptocurrency exchange OKEx, which serves as a utility token for the OKEx ecosystem.

Before the recent price increase, VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OKB on October 21.

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

As shown in the figure above, OKB’s VORTECS™ score began to rise to green on October 21, and reached a high of 76 about 9 hours before its price rose by 25% the next day.

According to Cointelegraph Markets Pro’s NewsQuakes™ service, OKB’s rebound is the use of USD on the exchange (USDC) Provide a 20% return and launch a meme coin campaign where users can compete to list their favorite meme coin on the exchange.

The overall cryptocurrency market value is now 2.51 trillion U.S. dollars, and Bitcoin’s dominance rate is 45.5%.

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