Bitcoin (BTC) kicks off the new month actively, and a December 1 rally to $ 59,053 indicates bulls are starting to shake off concerns over the Fed downsizing talks and the emergence of a new strain of COVID-19.
Altcoin prices have also skyrocketed, and the first hopes for a possible Santa Claus surge are circulating on crypto Twitter.
Top 7 currencies with the maximum price change in 24 hours. Source: Cointelegraph Markets Pro
Data from Cointelegraph Markets Pro and TradingView show that the largest gains in the last 24 hours came from Order Network (REQ), Bifrost (BFC) and SafePal (SFP).
Transactional Network Requests Reach Record Level
The Demand Network (REQ) is a decentralized payment system based on Ethereum that allows users to send and receive funds through secure channels without the need for an intermediary.
VORTECS data from Cointelegraph Markets Pro began to show positive outlook for the REQ on November 28, ahead of the recent rally.
The VORTECS Men’s Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions compiled from a range of data points including market sentiment, trading volume, recent price movements, and Twitter activity.
VORTECS ™ score (green) versus REQ price. Source: Cointelegraph Markets Pro
As you can see from the chart above, the VORTECS ™ REQ reading turned green on November 28 and peaked at 81 around 57 hours and then rose 98% over the next day.
The sharp rise in the price of REQ is accompanied by an increase in online activity and a 32% increase in the number of transactions in November. The current count shows that the number of transactions has increased by 46.34% in the last 30 days and by 67.32% in the last 90 days.
Bifrost ChainRunner Q. Home shoes
Bifrost (BFC) is a multi-threaded middleware platform that enables developers to create decentralized applications (DApps) that can run across multiple protocols.
Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 0.35 in the early hours of December 1, BFC rallied 56.84% to an intraday high of $ 0.556 when the 24-hour trading volume surpassed $ 130 million. …
4-hour BFC / USDT chart. Source: TradingView
The jump in BFC’s price came when Bifrost released the highly anticipated ChainRunner Q protocol, which gives users access to pre-built decentralized financial strategies (DeFi) as well as the ability to deposit, borrow, transfer, buy and use their cryptocurrency. …
Related Topics: Bitcoin Correction To Be Weakest In 2021 As Hope For Santa Claus Rises
SafePal adds support for nine new blockchains
SafePal (SFP) is a cryptocurrency wallet that provides investors with hardware and software with assets from Ethereum, Binance Smart Chain and the Tron ecosystem.
VORTECS data from Cointelegraph Markets Pro began to define an optimistic outlook for the SFP on November 29, ahead of the recent rally in prices.
VORTECS ™ result (green) versus SFP price. Source: Cointelegraph Markets Pro
As you can see from the chart above, the VORTECS ™ result for the November 29 SFP rose sharply and peaked at 81 about 41 hours before the price soared 38% over the next day.
The SFP price hike follows the announcement of the addition of support for Cardano, Nervos Network, Fantom, Avalanche, HECO Chain, Boba Network, Arbitrum, and Optimism to the project.
The total cryptocurrency market capitalization is now $ 2.67 trillion, and the bitcoin dominance rate is 41.2%.