Over the past 48 hours, price action in the crypto market was not for the faint-hearted. It’s evident that volatility after Bitcoin’s (BTC), and Ether (ETH) breakouts brought new highs.
The top two cryptocurrencies are fighting to maintain key support levels. However, altcoin markets have seen a few tokens post double-digit gains Nov. 5. Cointelegraph Markets Pro’s altseason indicator indicates that current market conditions align with past altseason price movements.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that the largest gainers in the last 24 hours were XYO Network, Crypto.com Coin and Wrapped NXM.
XYO Lists on Crypto.com
The XYO Network, a blockchain-based geospatial network, taps into decentralized devices to collect, validate, and record data on the XYO Blockchain.
Cointelegraph Markets Pro data shows that market conditions have been favorable for XYO for some time.
Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is based on a combination data points, including trading volume, market sentiment and recent price movements, and tweet activity.
VORTECS(tm), Score (green) vs. XYO Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for XYO started to rise on Nov. 2, and hit a peak of 77 just four hours later. This was before the price spiked 103% the following two days.
The price spike of XYO is due to the token being listed on Crypto.com and a liquidity mining pool on Gate, where depositors can get a 543.22% return.
CRO benefits of the Coinbase bump
Crypto.com’s native token is CRO. Users can stake CRO along with other cryptocurrencies to earn rewards and use their holdings to make daily purchases through the Crypto.com Pay mobile payment app.
Data from Cointelegraph Markets Pro showing VORTECS(tm), began to identify a bullish outlook on CRO on Nov. 3rd, prior to the recent price increase.
Score (green) VORTECS(tm). vs. CRO Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for CRO started to increase on Nov. 3. It reached a peak of 76 just two hours later, and then dropped 64% in the following two days.
CRO’s momentum is growing following its Nov. 3 Coinbase listing and the signing a multiyear contract with Twitch Rivals, an esports tournament host.
Related: Cryptocurrency trading platform Crypto.com will debut UFC NFTs
Nexus Mutual launches a Shield campaign
WNXM represents the wrapped NXM governance token used by the Nexus Mutual protocol. Nexus Mutual, a decentralized insurance protocol that runs on Ethereum, allows users to obtain smart contract coverage using their native NXM token.
Data from Cointelegraph Markets Pro showing VORTECS(tm), began to identify a bullish outlook on CRO on Nov. 4, before the recent price increase.
VORTECS(tm), Score (green), vs. the WNXM Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for CRO started to increase on Nov. 3. It reached a peak of 74 on November 4. This was just one hour before the price spiked by 47% the following day.
The price of WNXM has jumped following the launch a shield mining campaign for Premia Finance (PREMIA), and the platform’s progress towards launching Nexus V2, that will allow the fund to pay out partial claims.
The total cryptocurrency market is now worth $2.702 trillion, and Bitcoin’s dominance rate of 42.6%.
com. You should do your research before making any investment or trading decision.
Eileen Wilson –Technology and Energy
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