The mood in the cryptocurrency is one of rising anticipation as the price of bitcoin (BTC) continues to trade below $47,000. Sideways price action has analysts warning that an “explosive volatility period” is fast approaching, but few are prepared to predict the direction of the breakout.
While the price of bitcoin shrinks, the altcoin market has come alive and many tokens are posting notable gains, especially in the DeFi cohort.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers in the past 24 hours were Everest (ID), PAC Protocol (PAC) and Ravencoin.
Everest expands its interactivity
Everest is a blockchain company focused on removing barriers to public services and enhancing economic inclusion through the creation of a device-free, global digital transaction protocol with built-in identity features.
VORTECS™ data from Cointelegraph Markets Pro began to trace a bullish outlook for ID on December 30, ahead of 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 chart above, the VORTECS™ score for ID began to rise on 30 December and reached a high of 70 about 44 hours before the price began to rise by 115% over the next three days.
The price of ID’s ascent comes as the Everest project is in the process of rolling out bridges connecting Everchain with multiple blockchain networks including Polygon, Binance Smart Chain, Avalanche and Solana.
PAC protocol rolls out data storage accounts
PAC Prokotool, a next-generation blockchain masternode network with over 18,000 active nodes, has seen its token price increase by 36% over the past 24 hours.
Data from Cointelegraph Markets Pro and CoinGecko shows that after hitting a December 31 low of $0.002, PAC price climbed 79% to reach a January 3 daily high of $0.00359, as its 24-hour trading volume reached 50 percent. % had increased.
The pace of building the PAC comes as the project has begun rolling out a beta version of its yanDNA™ data storage accounts and is offering 5 gigabytes of free storage for early adopters.
related: 3rd Largest Whale Celebrates Bitcoin’s Birthday With 456 BTC Purchases
Ravencoin celebrates its 4 year anniversary
Ravencoin, a blockchain network specifically designed to efficiently handle the transfer of assets from one party to another, has seen its price increase by 34% in the past 24 hours.
VORTECS™ data from Cointelegraph Markets Pro began to trace a bullish outlook for ID on December 30, ahead of the recent price hike.
As seen in the chart above, the VORTECS™ score for RVN began to rise on December 29 and climbed to a high of 87 on December 30, approximately 15 hours before the price increased by 45.5% over the next four days.
The bullish move for RVN comes as the project celebrates the four-year anniversary of its official launch and is now pivoting to develop “the next generation of fintech for Wall Street on Ravencoin” while expanding its NFT capabilities. is looking for.
The total cryptocurrency market cap now stands at $2.253 trillion and bitcoin has a dominance rate of 39.4%.
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 involves risk, so you should do your own research when making a decision.
