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Even with Bitcoin worth on the verge of a brand new all-time excessive, the cryptocurrency market initiatives an aura of anxious optimism on Oct. 18 as buyers await the official launch of the primary Bitcoin (BTC) exchange-traded fund (ETF) which is set to begin trading on Oct. 19.
Whereas the market waits for the historic ETF launch, BTC bulls are battling to carry the $62,000 stage as help. In the meantime, a handful of altcoins posted double-digit rallies on Monday as merchants presumably look to capitalize on the good points they supply when Bitcoin worth consolidates.
Knowledge from Cointelegraph Markets Pro and TradingView reveals that the largest gainers over the previous 24-hours had been Ankr Community (ANKR), Stacks (STX) and Kadena (KDA).
Ankr Community companions with the Sacramento Kings
Ankr Community’s blockchain resolution is designed to make use of idle computing energy from units and knowledge facilities from all over the world to assist energy the crypto ecosystem.
VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for ANKR on Oct. 17, previous to the latest worth rise.
The VORTECS™ Rating, unique to Cointelegraph, is an algorithmic comparability of historic and present market situations derived from a mix of knowledge factors together with market sentiment, buying and selling quantity, latest worth actions and Twitter exercise.
As seen within the chart above, the VORTECS™ Rating for ANKR started to select up on Oct. 17 and climbed to a excessive of 70 round 4 hours earlier than the worth spiked 46% over the subsequent day.
The bounce in worth for ANKR comes following the mission’s multi-year sponsorship cope with the Nationwide Basketball Affiliation’s (NBA) Sacramento Kings.
Stacks advances towards launching sensible contracts on Bitcoin
Stacks is a layer-one blockchain resolution targeted on bringing sensible contracts and decentralized functions to the Bitcoin community.
VORTECS™ knowledge from Cointelegraph Markets Professional started to detect a bullish outlook for STX on Oct. 11, previous to the latest worth rise.
As seen within the chart above, the VORTECS™ Rating for STX started to select up on Oct.11 and reached a excessive of 88, round 5 hours earlier than the worth started to extend by 55% over the subsequent week.
The rise in prominence for STX comes because the doable launch of a number of BTC ETFs has excited the broader funding neighborhood about the potential of sensible contract capabilities on the Bitcoin community.
Associated: Grayscale confirms Bitcoin ETF plans and adds exposure to Zcash, Stellar Lumens and Horizen to its trusts
Kadena provides NFT capabilities
Kadena worth additionally took a bullish flip over the past 24 hours.
Knowledge from Cointelegraph Markets Pro and TradingView reveals that after hitting a low of $2.14 on Oct. 16, the worth of KDA has rallied 30% to a every day excessive at $2.79 on Oct. 18 as its 24-hour buying and selling quantity spiked 313% to $9.4 million.
The rise in momentum for KDA comes following the protocol’s partnership with Immutable Data which is able to deliver a fully-built NFT market to the Kadena ecosystem.
The general cryptocurrency market cap now stands at $2.462 trillion and Bitcoin’s dominance fee is 47.2%.
The views and opinions expressed listed below are solely these of the creator and don’t essentially mirror the views of Cointelegraph.com. Each funding and buying and selling transfer entails threat, you must conduct your individual analysis when making a choice.
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