The mood in the crypto market is one of growing anticipation as the price of Bitcoin (BTC) continues to trade just below $47,000. The sideways price action has analysts warning that a “period of explosive volatility” is fast approaching, but few have been willing to predict the direction of the breakout.
As Bitcoin price compresses, the altcoin market has come alive and several tokens are posting gains notable, especially in the DeFi cohort.
Data from Cointelegraph Markets Pro and TradingView show that the tokens that rose the most in the last 24 hours were Everest (ID), PAC Protocol ( PAC) and Ravencoin.
Everest expands its interoperability
Everest is a blockchain company that focuses on removing barriers to public services and enhancing economic inclusion through the creation of a global device-less digital transaction protocol with embedded identity features.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ID on December 30, prior to the recent price rally.
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 Twitter activity.
As seen in the graph above, ID’s VORTECS™ Score began to rebound on December 30th and reached a high score of 70 about 44 hours before the price began to increase by 115% over the next three days.
The rising price of ID occurs as the Everest project is in the process of implementing bridges connecting EverChain to multiple blockchain networks, including Polygon (MATIC), Binance Smart Chain (BSC), Avalanche (AVAX) and Solana (SUN).
PAC Procotol launches data storage accounts
PAC Procotol, a next-generation blockchain masternode network that has over 18,000 active nodes, saw its token price rise 36% in the last 24 hours.
Data from Cointelegraph Markets Pro and CoinGecko show that after touching a minimum of USD 0.002 on Dec 31, PAC price surged 79% to reach a daily high of $0.00359 on Jan 3 as its 24-hour trading volume soared by 50%.
The build push for PAC comes as the project has started to roll out the beta version of its data storage accounts yanDNA™ and offers 5 gigabytes of free storage for early adopters.
Ravencoin celebrates its fourth anniversary
Ravencoin, a blockchain network specifically designed to handle the transfer of assets from one party to another efficiently, has seen its price increase by 34% in the last 24 hours.
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VORTECS™ data from Cointelegraph Markets Pro began spotting a bullish outlook for RVN on Dec. 30, prior to the recent price rally.
As seen in the graph above, the VORTECS™ Score for RVN began to pick up on December 29 and rose to a high of 87 on December 30, around 15 hours before the price increased by 45.5% over the next four days.
The upward movement for RVN comes as the project is celebrating the fourth anniversary of its official launch and is now looking to turn to develop the ” next generation of financial technology for Wall Street in Ravencoin” while expanding its capabilities. NFT Ads.
The total cryptocurrency market capitalization currently stands at $2.253 trillion and the index domain of Bitcoin is 39.4%.
The points of 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 do your own research when making a decision.
Keep reading:
- Bitcoin open interest hits record high amid ‘hype’ predictions for BTC price this month
- 3 reasons why which Ethereum can reach USD 5,000 in the first quarter of 2022
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