Altcoin’s breakthrough even as Bitcoin price drops to $ 60,000

Bitcoin price and Ether (ETH) price rebounded to lower support today after a hectic week of BTC climbing to all-time highs after successfully launching two exchange-traded funds.

While much of the focus has been on BTC and Ether, many altcoins have made significant gains as some traders prepare for a possible old season.

Altcoin breaks out even as Bitcoin price drops to $ 60,000
Top 7 coins with the highest price change in 24 hours. The source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView show that the biggest winners over the past 24 hours are THORChain (RUNE), Moonriver (MOVR) and OKB (OKB).

THORChain continues to trade on the Ethereum network

THORChain is a decentralized liquidity protocol that provides cross-chain tricks for various blockchain networks and allows users to fully custody their assets in transactions between networks.

According to data from Cointelegraph Markets Pro, market conditions have been quite favorable for RUNE 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 such as market sentiment, trading volume, recent price movements and Twitter activity.

Altcoin breaks out even as Bitcoin price drops to $ 60,000

 

VORTECS ™ -Score (green) compared to the RUNE price. The source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for RUNE has been in the green for most of the past week, hitting a high of 74 on October 18, about 19 hours before the price rose 60% over the next two days. rose.

New impetus for RUNE comes after the resumption of transactions on the Ethereum network, which was stopped after the protocol suffered an $ 8 million hack in July 2021.

Moonriver is expanding its ecosystem

Moonriver is one of the newly introduced Kusama Parachain protocols, an Ethereum compatible smart contract platform that offers a permanent Canarian network with incentives.

Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 234 on October 19, MOVR price rose 75% to an intraday high of $ 410 on October 22 while the volume of its 24-hour trading surges over $ 59 million.

Altcoin breaks out even as Bitcoin price drops to $ 60,000

 

MOVR / USDT 4 hour chart. Source: TradingView

MOVR’s price recovery comes as the project has forged new partnerships across the crypto ecosystem, including a partnership with The Graph protocol and integration with SushiSwap.

Related: Valkyrie Bitcoin Linked ETF Futures starts on the Nasdaq with a price decline of 3% in the first hour

OKEx starts meme coin campaign

OKB is the native token of the Malta-based crypto exchange OKEx and acts as a utility token for the OKEx ecosystem.

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

Altcoin breaks out even as Bitcoin price drops to $ 60,000

 

VORTECS ™ -Score (green) at the OKB price. The source: Cointelegraph Markets Pro

 

As can be seen in the graph above, the VORTECS ™ Score for OKB began to rise on October 21st, peaking at 76, about nine hours before the price rose 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 resulted in a 20% return as well as the start of a campaign that users can use compete to list their favorite meme coin on the stock market.

The total crypto market cap is $ 2.51 trillion and the dominance of Bitcoin is 45.5%.

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