The parabolic gains of OriginTrail, Maker and XYO Network inspire the hope of “altseason”


On November 3, the price of altcoins rose and Bitcoin (Bitcoin) The price is hovering at the support level of $62,000.

At present, game tokens, supply chain-related projects, and decentralized finance (DeFi) protocols are hot. As shown in the figure below, many altcoins achieved double-digit and triple-digit gains on November 3.

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

Data from Cointelegraph Markets Pro with Transaction view Shows that the biggest gains in the past 24 hours are OriginTrail (TRAC), XYO Network (XYO) and Maker (MKR).

TRAC gets a boost from the “Coinbase effect”

OriginTrail is a protocol that claims to be “the world’s first decentralized knowledge graph”, which aims to help people organize important assets and make them discoverable and verifiable on the blockchain network.

According to the data from Cointelegraph Markets ProFor some time, TRAC’s market conditions have been 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 TRAC price. source: Cointelegraph Markets Pro

As shown in the figure above, TRAC’s VORTECS™ score climbed to the dark green area on October 30, and reached a high of 81 in 49 hours or so before the price began to rise 232% in the next two days.

The sudden spike in the price of TRAC comes when the token has been listed on several new cryptocurrency exchanges, including Coinbase.

XYO network nodes exceed 3 million

The XYO protocol is a geospatial oracle network consisting of a decentralized ecosystem of devices that anonymously collect, verify, and record data on the XYO blockchain.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for XYO began to be discovered on October 30th.

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

As shown in the figure above, XYO’s VORTECS™ score climbed to the green area on October 30, and reached a high of 76 in about 67 hours before the price rose by 88% in the next two days.

On October 14, the number of XYO nodes surpassed the 3 million mark, and XYO’s construction momentum also followed.

related: Bitcoin reversed Tuesday’s gains, and Solana joined Ethereum at a record high

Maker’s TVL hits a new high

Maker is the native token of the MakerDAO DeFi lending protocol, allowing users to lock assets to mint DAI stablecoins.

VORTECS™ data comes from Cointelegraph Markets Pro Before the recent price increase, a bullish outlook for MKR began to be discovered on November 1.

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

As shown in the graph above, MKR’s VORTECS™ score turned green on November 1st and reached a high of 70 approximately three hours before the price began to rise by 51.4% in the next two days.

According to data from DeFi Llama, when the price and momentum of MKR rose, the total value lock (TVL) of the agreement reached a record US$17.98 billion. This makes Maker the No. 2 DeFi protocol in TVL.

The overall cryptocurrency market value is now $2.711 trillion, and Bitcoin’s dominance rate is 43.2%.

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