While the price of Bitcoin (BTC) is approaching record highs, the cryptocurrency market is in for an aura of unsettling optimism on October 18, while investors await the official launch of the first Bitcoin Trading Fund (ETF), which starts trading on October 19. .,
While the market awaits the launch of the historical ETF, the BTC bulls are struggling to maintain the $ 62,000 support. Meanwhile, on October 18, several cryptocurrencies hit double-digit highs as traders want to monetize the profits they have made as the price of bitcoin consolidates.
Top 7 currencies with the maximum price change in 24 hours. Source: Cointelegraph Markets Pro
Cointelegraph Markets Pro and TradingView data show that Ankr Network (ANKR), Stacks (STX) and Kadena (KDA) were the biggest winners in the last 24 hours.
Ankr Network partners with Sacramento Kings
Ankr Network’s blockchain solution is designed to harness the inactive computing power of devices and data centers from around the world to help manage the crypto ecosystem.
VORTECS fra data from Cointelegraph Markets Pro began to show optimistic outlook for ANKR on October 17, ahead of the recent price hike.
The VORTECS Men Assessment, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions drawn from a range of data points, including market sentiment, trading volume, recent price movements, and Twitter activity.
VORTECS ™ score (green) versus ANKR price. Source: Cointelegraph Markets Pro
As shown in the chart above, the VORTECS for the ANKR result began to rally on Oct 17 and climbed to a high of 70 about four hours before the price rallied 46% the next day.
The jump in ANKR award follows a multi-year project sponsorship deal with the NBA’s Sacramento Kings.
Stacks move towards launching Bitcoin smart contracts
Stacks (STX) is a Tier 1 blockchain solution focused on the implementation of smart contracts and decentralized applications on the Bitcoin network.
VORTECS fra data from Cointelegraph Markets Pro began to show optimistic outlook for STX on October 11, ahead of the recent price hike.
VORTECS score (highlighted in green) versus STX price. Source: Cointelegraph Markets Pro
As you can see from the chart above, the VORTECS for the STX result began to rally on October 11, peaking at 88, about five hours before the price started to rise 55% over the next week.
The rise in STX status comes as the potential launch of more BTC ETFs has affected the broader investment community around the potential for smart contracts on the Bitcoin network.
Related: Grayscale confirms Bitcoin ETF plans, adds Zcash, Stellar Lumens, Horizen capabilities to their mutual funds.
Kadena adds NFT functionality
The Kadena (KDA) price has also had a bullish reversal in the last 24 hours.
Cointelegraph Markets Pro and TradingView data show that after hitting a low of $ 2.14 on October 16, the KDA price surged 30% to a daily high of $ 2.79 on October 18, and 24-hour trading volume surged 313% to 9.4 dollar. Million.
KDA / USDT 4-hour chart. Source: TradingView
The development of KDA follows a protocol partnership with Immutable Registries that will provide a marketplace for fully built non-fungible tokens (NFTs) for the Kadena ecosystem.
The total market value of the cryptocurrency is now $ 2.462 trillion, and the bitcoin dominance rate is 47.2%.