Altseason rumors will be rising on Nov. 9, as altcoins capitalize Bitcoin’s move towards an all-time high, and the subsequent consolidation that tends after (BTC), pulls back to test underlying support levels.
As is the case with pullbacks in Bitcoin during bull markets, some outflows make their way into altcoin markets. The chart below illustrates this dynamic.
The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that Livepeer (LPT), Loopring, LRC and Keep3rV1(KP3R) were the largest gainers in the last 24 hours.
Livepeer co-hosts COLLIDE
Livepeer, a decentralized video streaming platform based on Ethereum (ETH), aims to be a viable blockchain-based alternative for centralized broadcasting solutions.
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on LPT on Nov. 7, 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. the LPT price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for LPT started to rise on Nov. 7, and reached a peak of 75 just one hour later. After this, the price climbed 226% over the next two consecutive days to $99.83, a new record.
After hosting the COLLIDE event together with the Glass streaming platform, the price of LPT has appreciated. This was the first ever live concert to include live minting video nonfungible tokens.
Loopring increases its presence in layer-two races
Loopring is an L2-scaling solution for Ethereum that uses zk-Rollups. It helps to decrease fees and increase the throughput of decentralized exchanges (DEX).
VORTECS(tm), data from Cointelegraph Markets Pro, began to detect a bullish outlook on LRC on Nov. 5, before the recent price rise.
VORTECS(tm), Score (green) vs. LRC Price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for LRC started to increase on Nov. 4, and reached 72 on Nov. 5. This was five hours before the price rose 142% in the following four days.
Loopring’s steady momentum is due to the fact that the layer-two protocol offers lower transaction fees than other L2 solutions such as Arbitrum or Optimism, while fees on the Ethereum network are still high.
Related: Kraken predicts $96K BTC top price as an analyst claims $1T Bitcoin market capital is ‘now cemented.
Keep3rV1 offers a community vote
Keep3rV1 is an initiative that connects projects to outside development resources through the creation a blockchain-based job board.
VORTECS(tm), data from Cointelegraph Markets Pro started to detect a bullish outlook on KP3R in November 5, before the recent price rise.
VORTECS(tm), Score (green) vs. the KP3R price. Source: Cointelegraph Markets Pro
The chart shows that the VORTECS(tm), Score for KP3R was in the green zone for several consecutive days. It reached a peak of 71 on Nov. 5 at around 23:00, just hours before the price rose 79% in the following three days.
KP3R’s price spike is due to a governance vote in which token holders can vote for the top pools of Fixed Forex stable coin framework.
The total cryptocurrency market is now worth $2.902 trillion, and Bitcoin’s dominance rate at 43.3%.
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