The cryptocurrency market is still feeling optimistic despite Bitcoin’s recent record high. Investors are waiting for the official launch the first Bitcoin exchange-traded fund (ETF), which will begin trading Oct. 19.
The market is still waiting for the historic ETF launch. However, BTC bulls are trying to maintain $62,000 as support while they wait. A few altcoins saw double-digit gains on Monday, as traders may look to capitalize on the gains when Bitcoin prices consolidate.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that Ankr Network, Stacks and STX were the largest gainers in the last 24 hours. Kadena and KDA are the other big winners.
Sacramento Kings partner with nkr Network
Ankr Network’s Blockchain Solution is designed to make use of idle computing power from data centers and devices around the globe to power the crypto ecosystem.
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on ANKR in October 17, before the recent price rise.
Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.
VORTECS(tm), Score (green) vs. ANKR Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for ANKR started to rise on Oct. 17. It reached a peak of 70 just four hours before the price spiked by 46% the following day.
ANKR’s price jump is due to a multi-year sponsorship agreement with the National Basketball Association (NBA), Sacramento Kings.
Stacks makes progress towards launching smart Bitcoin contracts
Stacks is a layer one blockchain solution that aims to bring smart contracts and decentralized apps to the Bitcoin network.
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on STX on October 11, before the recent price rise.
VORTECS(tm), Score (green) vs. the STX price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for STX started to rise on Oct.11. It reached an all-time high of 88 just five hours before the price increased by 55%.
STX has gained prominence due to the potential launch of multiple BTC ETFs. This excitement has attracted the attention of the wider investment community regarding the possibility of smart contracts on the Bitcoin network.
Related: Grayscale confirms Bitcoin ETF Plans and adds exposure Zcash, Stellar Lumens, and Horizen to its trusts
Kadena adds NFT capabilities
Over the past 24 hours, Kadena’s price took a bullish turn.
Cointelegraph Markets Pro and TradingView data show that KDA prices have rallied 30% after hitting a low at $2.14 on October 16. The price has risen to $2.79 per day on Oct. 18, as its 24-hour trading volume jumped 313% to $9.4million.
Chart for KDA/USDT 4 hours Source: TradingView
KDA’s momentum has increased following its partnership with Immutable Records, which will bring a fully-integrated NFT marketplace into the Kadena ecosystem.
The total cryptocurrency market is now worth $2.462 trillion, and Bitcoin’s dominance rate at 47.2%.
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Eileen Wilson –Technology and Energy
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