Altcoins turn bullish even as Bitcoin price slips below $46K again

The
mood
across
the
cryptocurrency
is
one
of
growing
anticipation
as
the
price
of
Bitcoin
(BTC)
continues
to
trade
just
below
$47,000.
The
sideways
price
action
has
analysts

warning
that
an
“explosive
volatility
period

is
rapidly
approaching
but
few
have
been
willing
to
predict
the
direction
of
the
breakout. 

While
Bitcoin
price
compresses,
the
altcoin
market
has
come
alive
and
multiple
tokens
are
posting
notable
gains,
especially
in
the
DeFi
cohort.


Top
7
coins
with
the
highest
24-hour
price
change.
Source:



Cointelegraph
Markets
Pro

Data
from

Cointelegraph
Markets
Pro

and

TradingView

shows
that
the
biggest
gainers
over
the
past
24-hours
were
Everest
(ID),
PAC
Protocol
(PAC)
and
Ravencoin.

Everest
expands
its
interoperability

Everest
is
a
blockchain
company
with
a
focus
on
removing
barriers
to
public
services
and
enhancing
economic
inclusion
through
the
creation
of
a
device-free,
global
digital
transaction
protocol
with
built-in
identity
features.

VORTECS™
data
from

Cointelegraph
Markets
Pro

began
to
detect
a
bullish
outlook
for
ID
on
Dec.
30,
prior
to
the
recent
price
rise.

The
VORTECS™
Score,
exclusive
to
Cointelegraph,
is
an
algorithmic
comparison
of
historical
and
current
market
conditions
derived
from
a
combination
of
data
points
including
market
sentiment,
trading
volume,
recent
price
movements
and
Twitter
activity.


VORTECS™
Score
(grey)
vs.
ID
price.
Source:



Cointelegraph
Markets
Pro

As
seen
in
the
chart
above,
the
VORTECS™
Score
for
ID
began
to
pick
up
on
Dec.
30
and
reached
a
high
score
of
70
around
44
hours
before
the
price
began
to
increase
by
115%
over
the
next
three
days.

The
climbing
price
of
ID
comes
as
the
Everest
project
is
in
the
process
of
rolling
out
bridges
connecting
EverChain
with
multiple
blockchain
networks
including
Polygon
(MATIC),
Binance
Smart
Chain
(BSC),
Avalanche
(AVAX)
and
Solana
(SOL).

PAC
Protocol
rolls
out
data
storage
accounts

The
PAC
Procotol,
a
next-generation
blockchain
masternode
network
that
has
more
than
18,000
active
nodes,
saw
its
token
price
increase
36%
over
the
past
24-hours.

Data
from

Cointelegraph
Markets
Pro

and

CoinGecko

shows
that
after
hitting
a
low
of
$0.002
on
Dec.
31,
the
price
of
PAC
climbed
79%
to
hit
a
daily
high
at
$0.00359
on
Jan.
3
as
its
24-hour
trading
volume
spiked
by
50%.


PAC/USD
1-hour
chart.
Source:
CoinGecko

The
building
momentum
for
PAC
comes
as
the
project
has
begun
rolling
out
the
beta
version
of
its
yanDNA™
data
storage
accounts
and
is
offering
5
gigabytes
of
free
storage
for
early
adopters.



Related:




Third-largest
whale
celebrates
Bitcoin’s
birthday
with
456
BTC
buy

Ravencoin
celebrates
its
4
year
anniversary

Ravencoin,
a
blockchain
network
specifically
designed
to
handle
the
transfer
of
assets
from
one
party
to
another
efficiently,
has
seen
its
price
spike
34%
over
the
past
24-hours.

VORTECS™
data
from
Cointelegraph
Markets
Pro
began
to
detect
a
bullish
outlook
for
ID
on
Dec.
30,
prior
to
the
recent
price
rise.


VORTECS™
Score
(green)
vs.
RVN
price.
Source:



Cointelegraph
Markets
Pro

As
seen
in
the
chart
above,
the
VORTECS™
Score
for
RVN
began
to
pick
up
on
Dec.
29
and
climbed
to
a
high
of
87
on
Dec.
30,
around
15
hours
before
the
price
increased
45.5%
over
the
next
four
days.

The
bullish
move
for
RVN
comes
as
the
project
is
celebrating
the
four-year
anniversary
of
its
official
launch
and
now
looks
to
pivot
to
developing
the
“next
generation
of
financial
technology
for
Wall
Street
on
Ravencoin”
while
also
expanding
its
NFT
capabilities.

The
overall
cryptocurrency
market
cap
now
stands
at
$2.253
trillion
and
Bitcoin’s
dominance
rate
is
39.4%.

The
views
and
opinions
expressed
here
are
solely
those
of
the
author
and
do
not
necessarily
reflect
the
views
of
Cointelegraph.com.
Every
investment
and
trading
move
involves
risk,
you
should
conduct
your
own
research
when
making
a
decision.

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