The mood across cryptocurrency is one of growing anticipation as the price of Bitcoin (BTC) continues to trade just below $47,000. Sideways Price Action Has Analysts warning that a “period of explosive volatility“Fast approaching but few were willing to predict the direction of the breakout.
As the Bitcoin price compresses, the altcoin market has come alive and several tokens are posting notable gains, especially in the DeFi cohort.
Everest expands its interoperability
Everest is a blockchain company focused on removing barriers to public services and improving economic inclusion through the creation of a deviceless, global digital transaction protocol with built-in identity capabilities.
VORTECS™ data from Cointelegraph Markets Pro started detecting a bullish outlook for ID on December 30, before 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 shown in the chart above, the VORTECS™ score for ID began to rise on December 30 and reached a high score of 70 approximately 44 hours before the price began to rise 115% over the following three days. .
The rising price of ID comes as Project Everest is rolling out bridges connecting EverChain to multiple blockchain networks, including Polygon (MATIC), Binance Smart Chain (BSC), Avalanche (AVAX) and Solana (FLOOR).
PAC protocol deploys data storage accounts
PAC Procotol, a next-generation blockchain masternode network with over 18,000 active nodes, has seen its token price increase by 36% in the past 24 hours.
Data from Cointelegraph Markets Pro and CoinGecko shows that after hitting a low of $0.002 on December 31, the price of PAC soared 79% to reach a daily high of $0.00359 on January 3, as its 24-hour trading volume increased by 50%.
PAC’s ramp-up comes as the project began rolling out the beta version of its yanDNA™ data storage accounts and is offering 5 gigabytes of free storage to early adopters.
Ravencoin turns 4
Ravencoin, a purpose-built blockchain network to efficiently manage the transfer of assets from one party to another, has seen its price soar 34% in the past 24 hours.
VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for ID on December 30, ahead of the recent price rally.
As seen in the chart above, the VORTECS™ score for RVN started rising on December 29 and reached a high of 87 on December 30, about 15 hours before the price rose 45.5% during the next four days.
The bullish move for RVN comes as the project celebrates the fourth anniversary of its official launch and now seeks to pivot towards developing the “next generation of financial technology for Wall Street on Ravencoin” while expanding its NFT capabilities.
The overall cryptocurrency market capitalization now stands at $2.253 trillion, and Bitcoin’s dominance rate is 39.4%.
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