Altcoins breakthrough even as Bitcoin price drops to $ 60,000

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Today, the price of Bitcoin (BTC) and the price of Ether (ETH) returned to lower support levels after an exciting week which saw BTC reach a new all-time high after the successful launch of two traded funds in stock exchange.

While much of the focus has been on BTC and Ether, several altcoins have seen notable gains as some traders appear to be bracing for a possible season change.

Top 7 parts with the highest price variation over 24 hours. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours have been THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).

THORChain resumes trading on the Ethereum network

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

According to data from Cointelegraph Markets Pro, market conditions for RUNE have been favorable 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, trade volume, recent price movements and activity Twitter.

VORTECS ™ score (green) against the RUNE price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS ™ score for RUNE has been high in the green zone for most of the past week and peaked at 74 on October 18, about 19 hours before its price hit. increases by 60% over the next two days.

The new momentum for RUNE comes after trading resumed on the Ethereum network, which had been halted since the protocol was hacked for $ 8 million in July 2021.

Moonriver expands its ecosystem

Moonriver is one of the recently launched Kusama Parachain Protocols, which is an Ethereum-enabled smart contract platform that provides a continuously prompted canary network.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $ 234 on October 19, the price of MOVR jumped 75% to an intraday high of $ 410 on October 22 as its trading volume on 24 hours has exceeded $ 59 million.

4 hour MOVR / USDT chart. Source: TradingView

The rally seen in the price of MOVR comes as the project has established new partnerships in the cryptocurrency ecosystem, including collaboration with the Graph protocol and integration with SushiSwap.

Related: Valkyrie Bitcoin Futures ETF Launches On Nasdaq, Stock Price Falls 3% In First Hour

OKEx launches meme-coin campaign

OKB is the native token of the Malta-based cryptocurrency exchange OKEx and it functions as the utility token for the OKEx ecosystem.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for OKB on October 21, ahead of the recent price hike.

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

As shown in the graph above, the VORTECS ™ score for OKB started to climb in the green on October 21 and peaked at 76, about nine hours before its price increased 25% the following day.

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

The overall cryptocurrency market cap is now $ 2.51 trillion and Bitcoin’s dominance rate is 45.5%.

The 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 comes with risk, you should do your own research before making a decision.

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