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Bitcoin’s surge above $48,000 catalyzed a strong move from REN, KEEP and FRONT.
Bitcoin's (BTC) rise back above the $48,000 mark was back by similar moves from altcoins and analysts expect the market-wide rally to continue if the top-ranked digital asset can take aim at the $50,000 resistance level.
Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
Frontier's cross-chain app launch excites the community
Frontier is a decentralized finance (DeFi) aggregator that focuses on offering support for the Ethereum, Binance Smart Chain and Harmony blockchain.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FRONT on Sept. 11, prior to the recent price rise.
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. FRONT price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for FRONT turned green on Sept. 11 and climbed to a high of 80 around 34 hours before its price increased 66% over the next two days.
The sudden surge in price for FRONT came after the project announced the upcoming launch of version 2 of the Frontier app, which allows users to link will all their cryptocurrency wallets through integration with wallet connect.
Ren moves towards full decentralization
Ren is an open protocol designed to facilitate interoperability and liquidity between different blockchains and offers one of the most used solutions for integrating Bitcoin with the growing DeFi ecosystem.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for Ren on Sept. 14, prior to the recent price rise.
VORTECS™ Score (green) vs. REN price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for REN began to climb into the green zone on Sept. 13 and climbed to a high of 71 on Sept. 14, just as the price was beginning to increase by 40% over the next day.
The building momentum for REN comes following the Sept. 13 announcement that the RenVM testnet has integrated Greycore, a semi-decentralized validator set that will help the Ren ecosystem move closer to its goal of becoming fully decentralized.
Keep Network launches a new DAO proposal
The third biggest gainer on the 24-hour chart is Keep Network, a protocol comprised of off-chain containers for private data known as "keeps" that combine to create an "incentivized" network for storing encrypted private data on a public blockchain.
Data from Cointelegraph Markets Pro and TradingView shows that after reaching a low of $0.38 on Sept. 13, the price of KEEP rallied 45% to an intraday high at $0.55 on Sept. 15 as its 24-hour trading volume spiked 250% to $80 million.
The spike in the price of KEEP comes as the protocol released a DAO proposal that aims to combine the NuCyper and Keep communities under one governance platform.
The overall cryptocurrency market cap now stands at $2.182 trillion and Bitcoin’s dominance rate is 41.6%.
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.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.