BTC price is sliding closer to the $62,000 support, while UMA, WINk, KP3R and many other altcoins are shifting higher.
The seesaw price action that the crypto market is known for is back on full display today as the modest gains Bitcoin (BTC) achieved over the weekend quickly disintegrated in the early market moves as the digital asset followed Tesla stock into the red.
Fortunately, it's not all bad news for altcoin traders and this week kicked off with Cointelegraph Markets Pro’s Altseason Indicator suggesting that there is a 44% chance that an altseason is underway.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
Universal Market Access protocol, or UMA, is an Ethereum-blockchain-based project focused on the creation of synthetic assets that are self-executing, self-enforcing financial contracts that allow counter-parties to digitize and automate any real-world financial derivative.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for UMA on Nov. 12, 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 (green) vs. UMA price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for UMA spiked into the green and reached a high of 73 on Nov. 12, around 19 hours before the price increased 48.6% over the next two days.
The spike in UMA price comes after the mainnet launch of Sherlock DeFi protocol, which is an insurance protocol that utilizes UMA’s Optimistic Oracle solution to fairly adjudicate claims and provide exploit protection to other protocols.
WINk is is the first comprehensive oracle solution for the TRON ecosystem designed to integrate real world data and information with the blockchain ecosystem.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low at $0.000676 on Nov. 10, the price of WIN surged 61.85% over the next week to a daily high at $0.00109 on Nov. 15 as its 24-hour trading volume spiked to $910 million.WIN/USDT 4-hour chart. Source: TradingView
The building momentum for WIN comes as the project prepares for the closed beta test of the WIN nonfungible token (NFT) Horse game, which launches on Nov. 18. The project also conducted an APENFT airdrop for WIN holders.
Keep3rV1 is a decentralized job board designed to help projects that need external development connect with individuals and organizations who are capable of providing the required services.
According to data from Cointelegraph Markets Pro, market conditions for KP3R have been favorable for some time.VORTECS™ Score (green) vs. KP3R price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for KP3R has been elevated in the green zone since Nov. 9 and reached a high of 86 on Nov. 11, around nine hours before the price began to increase 114% over the next three days.
The climbing price of KP3R follows the token's listing on Binance and the launch of its FixedForex market, which offers 24/7 access to decentralized Forex trading to anyone around the world.
The overall cryptocurrency market cap now stands at $2.82 trillion and Bitcoin’s dominance rate is 43.1%.
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.