Altcoins break higher even though Bitcoin price has fallen to the $ 60,000 level

Today, the price of Bitcoin and Ether (ETH) has fallen back to their underlying support levels after an exciting week in which BTC shot to a new all-time high following the successful launch of two Exchange Traded Funds (ETFs).

Although much of the attention has been focused on the two major tokens in the market, several altcoins have made notable gains since some traders seem to be preparing for the possible launch of a new one Old season.

The 7 currencies with the highest price change in 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView show the tokens with the best performance over the past 24 hours THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).

THORChain resumes operations on the Ethereum network

Altcoins break higher even though Bitcoin price has fallen to the $ 60,000 level
Altcoins break higher even though Bitcoin price has fallen to the $ 60,000 level

THORChain is a decentralized liquidity protocol that offers a cross-chain service to various blockchain networks. Allow users to fully custody their assets while conducting transactions between networks.

According to data from Cointelegraph Markets Pro, market conditions have been favorable for RUNE for some time.

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 activity on Twitter

VORTECS ™ Score (Green) vs. Runic Price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the RUNE VORTECS ™ score has been in the green for most of the past week, hitting a high of 74 on October 18th, about 19 hours before the price dropped over the next two days 60% rose.

RUNE’s renewed momentum comes after resuming operations on the Ethereum network, which has been suspended since the protocol was hacked for $ 8 million in mid-July.

Moonriver is expanding its ecosystem

Moonriver is one of the recently launched Parachain protocols from Kusama, an Ethereum compatible smart contract platform that offers a permanent Canarian network with incentives.

Data from Cointelegraph Markets Pro and TradingView show that After hitting a low of $ 234 on October 19, the price of MOVR rose 75% to hit an intraday high of $ 410 on October 22, just as the daily trading volume topped $ 59 million.

MOVR / USDT 4 hour chart. Source: TradingView

MOVR’s price rally is due to the project entering into new partnerships in the cryptocurrency ecosystem, including a collaboration with The Graph protocol and an integration with SushiSwap.

OKEx starts a “meme coin” campaign

OKB is the native token of the Maltese cryptocurrency exchange OKEx and acts as a utility token for the platform’s ecosystem.

VORTECS ™ data from Cointelegraph Markets Pro began to see a bullish outlook for OKB on October 21, ahead of the token’s appreciation.

VORTECS ™ score (green) vs. OKB price. Source: Cointelegraph Markets Pro

As seen in the graph above, OKB’s VORTECS ™ score began climbing towards the green zone on October 21, hitting a high of 76, about nine hours before the price rose 25% the following day.

According to Cointelegraph Markets Pro’s NewsQuakes ™ service, OKB’s rally came after the exchange enabled one-click staking of USD Coin (USDC), which offers a 20% return, as well as the launch of a meme coin campaign where users can compete for that Your favorite mem-coins will be included on the platform.

The total market capitalization of cryptocurrencies is currently at $ 2.51 trillion and the dominance of Bitcoin is 45.5%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you will need to do your own research when making a decision.

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