SafePal, Bifrost and Request Network soar after Bitcoin price hits $59K
Bitcoin’s price has surged by almost $3,000 in the last week and digital assets that derive value from it have soared as well. SafePal is designed to provide a way for users to keep their crypto safe while they trade on popular exchanges such as Bifrost or Request Network.
The “why did bitcoin spike” is a question that has been asked for a while. The answer to the question is that Bitcoin hit $59K on September 3rd, which caused the price of most cryptocurrencies to skyrocket.
Bitcoin (BTC) has had a strong start to the month, with a run up to $59,053 on December 1 suggesting that bulls are starting to shake off anxieties sparked by the Federal Reserve’s taper discussions and the discovery of a new COVID-19 strain.
Altcoins’ values have also risen, with early predictions of a “Santa Claus rally” circulating on crypto Twitter.
Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.
Request Network (REQ), Bifrost (BFC), and SafePal were the top gainers in the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (SFP).
The number of transactions on the Request Network has reached an all-time high.
Request Network (REQ) is a decentralized payment system based on Ethereum that enables users to send and receive payments over secure channels without the involvement of a middleman.
Prior to the latest price gain, VORTECSTM data from Cointelegraph Markets Pro started to indicate an optimistic prognosis for REQ on Nov. 28.
The VORTECSTM Score is an algorithmic assessment of past and present market circumstances produced from a variety of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is unique to Cointelegraph.
REQ pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for REQ ascended into the green zone on Nov. 28 and reached a peak of 81 about 57 hours before the price soared 98 percent the following day, as seen in the chart above.
The price of REQ has risen as network activity has increased, with the number of transactions increasing by 32% in November. The transaction count is up 46.34 percent in the previous 30 days and 67.32 percent in the last 90 days, according to the running tally.
ChainRunner Q is a new game by Bifrost.
Bifrost (BFC) is a multichain middleware platform that enables developers to create decentralized apps (DApps) that may run on a variety of protocols.
According to data from Cointelegraph Markets Pro and TradingView, BFC climbed 56.84 percent to an intraday high of $0.556 on Dec. 1 after reaching a low of $0.35 in the early trading hours. Its 24-hour trading volume reached $130 million.
4-hour chart of BFC/USDT. TradingView is the source of this information.
The price of BFC has risen as the Bifrost protocol has published its long-awaited ChainRunner Q protocol, which allows users to deposit, borrow, transfer, purchase, and leverage their cryptocurrency holdings, as well as access to pre-built decentralized finance (DeFi) strategies.
Bitcoin correction so far in 2021 is the smallest, as chances of a Santa Claus rally grow
SafePal now supports nine more blockchains.
SafePal (SFP) is a hardware and software cryptocurrency wallet for investors holding assets in the Ethereum, Binance Smart Chain, and Tron ecosystems.
Prior to the latest price spike, VORTECSTM data from Cointelegraph Markets Pro started to indicate a favorable prognosis for SFP on Nov. 29.
SFP pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.
The VORTECSTM Score for SFP soared into the green zone on Nov. 29 and touched a peak of 81 about 41 hours before the price jumped 38 percent the following day, as seen in the chart above.
SFP’s price has risen as a result of the project’s statement that it now supports Cardano, Nervos Network, Fantom, Avalanche, HECO Chain, Boba Network, Arbitrum, and Optimism.
The total cryptocurrency market capitalization is currently $2.67 trillion, with Bitcoin commanding 41.2 percent of the market.
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