After Federal Reserve Chairman Jerome Powell confirmed that the bank would increase interest rates in 2022, and slow down its bond buying program (which had been in place since March 2020’s emergence of coronavirus), cryptocurrency prices and investor sentiment reversed their course on Dec. 15.
The Bitcoin (BTC), price gained 1.65%, taking it to $49,000. Ether climbed back above $4,000 after the announcement. Altcoins also followed suit, posting double-digit gains. It appears that bulls have regained control of the market for the moment.
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 ECOMI, Aragon and RAMP.
ECOMI moves to Immutable
ECOMI is a technology company that aims to build a blockchain-based digital marketplace for collectibles. Users can purchase and share NFTs across the social network service by using the native OMI token.
VORTECS(tm), data from Cointelegraph Markets Pro started to detect a bullish outlook on OMI on December 1, 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. OMI Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for OMI rose into the green zone. It reached an all-time high of 81 on December 1, just 96 hours before the market began to rise 39% in the following ten days.
OMI is gaining momentum as the ECOMI ecosystem migrates from ECOMI to Immutable, an Ethereum(ETH) scaling solution specifically for NFT projects.
A DAO hackathon is hosted by Ragon
Aragon Ethereum network protocol supports decentralized autonomous organisations (DAOs), developing governance structures, and encouraging community engagement.
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on ANT on December 12, before the recent price rise.
VORTECS(tm), Score (dark gray) vs. the ANT price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for ANT started to rise on December 12th and reached 70 just two hours later. This was before the price increased by 60% over the next two working days.
The rally in ANT prices is happening at the same moment as a DAO global Hackathon aims to draw developers to Aragon ecosystem. There are rumors that DAOpunks NFT will conduct an airdrop for ANT holders.
Related: Bitcoin’s retail buyers buy most BTC since the March 2020 crash.
RAMP benefits from liquidity mining incentives
RAMP (multi-chain decentralized finance protocol) is designed to help investors make more efficient use of capital.
Cointelegraph Markets Pro and TradingView data show that RAMP prices spiked 52.56% after hitting a low at $0.179 on December 14, and reached a daily high of $0.274 on December 15, as RAMP’s 24-hour trading volume soared 800% to $54.2million.
RAMP/USDT 4-hour chart. TradingView
RAMP’s price surge was caused by a liquidity mining incentive program that saw a sharp increase in total value. There are currently $63.3 million in Ethereum, Polygon, and Binance Smart Chain.
The total cryptocurrency market is now worth $2.126 trillion, and Bitcoin’s dominance rate at 41.7%.
com. You should do your research before making any investment or trading decision.
Eileen Wilson –Technology and Energy
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