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The sharp rise in the price of some altcoins in recent days; What was the cause?


Recently, some market coins have experienced significant price jumps, and since this uptrend has been sporadic and does not relate to a specific classification of tokens, it could be a sign of the beginning of a new instrument season.

to the Report Quinn Telegraph, the whispers of the beginning of the new season or the season of new pennies are heard more than before, and the market trend of some pennies has been up for several consecutive days. Bitcoin, meanwhile, is hovering below its all-time high of near $ 60,000.

In most cases, the jump in the price of pennies occurs with the focus on a specific classification of tokens, such as meme coins or currencies active in the field of decentralized finance (DeFi). However, the market has recently seen a jump in the prices of all categories, and this could be a sign of the formation and heating of the second season.

Sharp rise in prices of some coins;  Is it the penis season?
Top 7 currencies in the market that have performed best in the last 24 hours

Market data show that Secret, Curve Finance and Shiba Inu digital currencies have performed best in the last 24 hours.

Effective secret cooperation and the market of open C NFTs

Secret is a Blockchain protocol whose main focus is on information security of smart contracts and decentralized applications, and its main token is known by the acronym “SCRT”. Market data show that the price conditions of the secret digital currency have been very favorable for several consecutive days.

The VORTECS Index is an analytical tool provided exclusively by the Quin Telegraph website, and its mechanism is based on an algorithmic comparison of historical price history and current market conditions. The index uses a combination of several different types of data to measure the market conditions of a currency, including market sentiment, trading volume, recent price fluctuations and the activity of Twitter users.

In the following, with the help of Vertex score index, we will examine the reasons for the recent jump in the price of secret and other market coins.

Sharp rise in prices of some coins;  Is it the penis season?
Vertex Secret price comparison chart

As can be seen from the chart above, the Vertex digital currency rating rose on October 22 (October 30) and peaked about 6 hours before the 65% price increase and reached a historic high of $ 9.66 in the next 2 days. Has reached level 79.

The secret price jump came after the first series of anonymous NFT tokens were introduced on the digital currency network. The addition of this feature to the Secret Network appears to be related to the protocol’s recent collaboration with the OpenSea market.

Expanding the Cro Finance ecosystem

Cro Finance is a decentralized exchange for Stable Coins that uses an automated market maker to manage its protocol liquidity pool.

Vertex score data show that the index identified the bullish outlook for Cro Finance digital currency a few days before the recent price increase on October 25.

Sharp rise in prices of some coins;  Has the peninsula season started?
Price comparison and rating chart of Vertex Cro Finance

As can be seen in the chart above, the Vertex Cro Finance rating rose on October 25 (November 3) and almost reached its peak at 77 at the same time with the start of 31.66% price growth until the next day.

It can be said that the main reason for the growth of Cro Finance price is the continuation of cooperation and partnership of this protocol with the first and second tier networks of the digital currency ecosystem.

Shiba Ino price growth with the launch of new projects in the field of NFT

Shiba Inu entered the digital currency market in late 2020 as a meme coin, but later established itself as a fledgling ecosystem with the launch of the Shiba Swap decentralized exchange and an NFT product line.

The Vertex score index was able to identify the rising outlook of Shiba Ino a few days before the recent price increase and on October 24 (November 2).

Sharp rise in prices of some coins;  Has the peninsula season started?
Price comparison and rating chart of Vertex Shiba Ino

As can be seen from the chart above, the Shiba Ino Vertex rating peaked on October 23 (November 1) and peaked approximately 7 hours before the price rose 40.7% to $ 0.0000049 in the next two days. It has reached level 89. It is worth mentioning that the price of Shiba Ino has reached a new historical peak today and has reached $ 0.0000059.

One of the main reasons for Shiba Ino’s price growth in recent days is the launch of the Shiboshi Social Club project. This plan is presented exclusively for the holders of non-unique tokens of Shibushi collection and provides special privileges to this part of Shiba Ino community.

The total market value of digital currencies has now reached $ 2.621 trillion and the bitcoin dominance rate is 45%.

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