Altcoins take the next leg up as the total crypto market cap tops $2.63 trillion

CoinTelegraph

Crypto markets are in an absolute state of euphoria after Bitcoin (BTC) caught a bid and hit a new all-time high at $67,000. 

Bitcoin’s surge to $67,000 also helped to spark double-digit gains for multiple altcoins as the age-old adage of a rising tide lifting all boats appears to be in full effect.

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Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were OriginTrail (TRAC), Kadena (KDA) and Cartesi (CTSI).

OriginTrail makes a move

OriginTrail is a protocol that operates on the Ethereum (ETH) network and specializes in harnessing blockchain technology to improve logistics and supply chain management.

According to data from Cointelegraph Markets Pro, market conditions for TRAC 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, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. TRAC price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for TRAC began to pick up on Oct. 19 and reached a score of 72 around one hour before the price increased 48% over the next day.

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The spike in price for TRAC comes as the project is in the process of rebranding its image as the “world’s first decentralized knowledge graph” and has been collaborating with Dr. Bob Metcalfe as part of its advisory board.

Kadena undergoes a revamp

Kadena, an enterprise-focused blockchain project, has seen a healthy price breakout over the past 24 hours as momentum across the market increased.

Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low at $2.60 on Oct. 19, the price of KDA reversed course and surged 33.65% to an intraday high at $3.47 on Oct. 20 following a spike it is its 24-hour trading volume.

KDA/USDT 4-hour chart. Source: TradingView

The rise in the price of KDA comes following a revamp of the project’s website and partnership with Immutable Records that aims to bring a fully functioning nonfungible token marketplace to the Kadena network.

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Cartesi bridges to Avalanche

Cartesi is a blockchain protocol focused on integrating the traditional tools used by the developer community with decentralized tools that will help to evolve smart contracts and make them widely accessible to all.

Data from Cointelegraph Markets Pro and TradingView shows that the price of CTSI has rallied 51% from a low of $0.70 on Oct. 19 to an intraday high at $1.07 as its 24-hour trading volume spiked 587% to $288 million.

CTSI/USDT 4-hour chart. Source: TradingView

The spike in the price of CTSI comes as the project announced the launch of a bridge to the Avalanche network and prepares for its mainnet launch, which will include delegated staking.

The overall cryptocurrency market cap now stands at $2.637 trillion and Bitcoin’s dominance rate is 47.5%.

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 involves risk, you should conduct your own research when making a decision.

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Author: Jordan Finneseth


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