Volatility is back and full force in cryptocurrency markets. The price of Bitcoin (BTC), has experienced several $1,000 swings in the last few days. Additionally, some altcoins have seen new highs after major announcements.
Protocols that emphasize interoperability among major blockchain networks and projects that plan to release major updates in near future are the big winners of March 31.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
TradingView and Cointelegraph Markets Pro data show that Celer Network (CELR), IOST and SKALE Network (SKL) were the largest gainers in the last 24 hours.
SKALE Network is ready to launch v2.0
The SKALE Network (ETH native multichain scaling network) is a platform that allows Solidity smart contracts to be run at a faster speed and for a fraction the cost of operating on the Ethereum mainnet.
Cointelegraph Markets Pro and TradingView data show that the price for SKL soared 141% from a low point of $0.1374 on February 25, to an intraday high at $0.3322 on March 31, amid a 100% increase in its 24-hour trading volume.
SKL/USDT 1-day chart. Source: TradingView
This sudden interest in SKL is ahead of the launch SKALE v2 as well as an increase in project exposure at a Blockdaemon NFTLA networking event.
IOST announces EVM compatibility
IOST is a decentralized blockchain network that implements a “proof-of-believability” consensus protocol to achieve higher processing speeds than competing networks.
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on IOST on March 26, before the recent price increase.
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. the IOST price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for IOST started to rise on March 26, just two hours before the price increased 112% over five days.
After Project Entroverse was revealed, the protocol saw an increase in IOST demand. This will bring the Ethereum Virtual Machine (EVM), compatibility to IOST networks and allow applications and assets to move between them with ease.
Related: Zilliqa’s “metaverse” debut pushes ZIL price 350% within five days — Selloff ahead
Celer Network moves to the BNB Smart Chain
Celer Network is a layer-2 scaling solution that uses off-chain transaction processing to increase processing speed and reduce transaction costs.
Data from Cointelegraph Markets Pro showing a bullish outlook on CELR, VORTECS(tm), began to be detected on March 29, before the recent price increase.
VORTECS(tm), Score (green) vs. CELR Price. Source: Cointelegraph Markets Pro
The chart shows that the CELR VORTECS(tm Score for CELR rose into the green on March 29, and reached a peak of 82 just nine hours later, before the price increased by 41.48 percent over the following day.
After the announcement that CELR was selected to be the official interoperability layer for the BSC Application Sidechain, (BAS), on the BNB Smart Chains (BSC), the CELR moved higher.
The total cryptocurrency market is now worth $2.097 trillion. Bitcoin’s dominance rate at 41.7%.
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Eileen Wilson –Technology and Energy
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