Market data show that following the jump in the price of Bitcoin, privacy-based currencies have also performed tremendously in the last 24 hours, experiencing three-digit growth.
to the Report The Coin Telegraph has been showing signs of optimism among digital currency traders since yesterday, following news of a possible approval of the Bitcoin Exchange (ETF).
Recent positive news has pushed the price of bitcoin to close to $ 63,000 for the first time since April in some exchanges, and a number of market coins have experienced three-digit growth.
Market data show that NuCypher, Keep Network and Orchid currencies, all of which focus on privacy issues, have performed best in the last 24 hours.
Successful collaboration between New Cypher and Cape Network
The focus of the New Cipher project is on decentralized encryption solutions, providing public blockchain control and management systems through end-to-end sharing of encrypted data and decentralized storage solutions.
After falling to $ 0.283 yesterday, the new Cypher price increased by 535% to $ 1.80 in the early hours of the day, and its 24-hour trading volume surprisingly grew by 19,440% to 2 Reached $ 152 billion.
The main reason for the incredible growth of price and volume of New Cypher transactions is the cooperation of this project in launching the second version of the TBTC v2 communication bridge and scalable network in the Cape Network. The main idea of the TBT project is to create a platform for the use of the uncensored feature of the Bitcoin network in all networks that can communicate with Ethereum.
The combination of Bitcoin uncensor and Ethereum performance
The Cape Network protocol focuses on providing privacy-based infrastructure in public blockchain by building incentive networks for storing and encrypting private data. Incentive networks are blockchains that use incentives such as giving tokens to users and developers to encourage people to participate more.
VORTECS data show that the index identified the upside of the Cape Network digital currency a few days before the recent price increase on October 12.
The Vertex Score, which is exclusive to the Coin Telegraph website, is an algorithmic comparison of historical background and current market conditions that combines several different types of data, including market sentiment, trading volume, recent price fluctuations, and Twitter activity.
As can be seen from the chart above, the Cape Network vortex score started to rise on October 12 (October 20) and reached its peak at 75 level one day before the price of this digital currency rose by 585%.
The increase in the upward acceleration of the Cape Network price was accompanied by the growth of the new Cypher price, and as mentioned earlier, this upward jump was influenced by the cooperation of these two projects in launching the second version of the TBT bridge in the Cape Network.
Orchid price growth with attractive blockchain based VPN idea
Orchid is a virtual private network (VPN) based on digital currencies that has earned its name as “the world’s first peer-to-peer privacy-based network.”
The Vertex Index was able to identify the uptrend of Orchid Digital Currency a few days before the recent price increase on October 12 (October 20).
As can be seen in the chart above, the Vortex Orchid rating entered the green zone on October 12 (October 20) and on October 14 (October 22), 15 hours before the price of this digital currency rose 82%, It has reached its peak at level 75.
If you take a look at Orchid’s Twitter page, you’ll see that the project’s increased focus on privacy issues was one of the main reasons for yesterday’s jump in the price of this digital currency. New Cypher and Cape Network pursue a similar goal, and this shows that privacy-based projects have a chance to attract more attention.
The total value of the digital currency market is currently $ 2.484 trillion and the bitcoin dominance rate is 46.6%.