Traders and the market are showing extreme optimism on October 15 after rumors and an assortment of documents suggest the path to Bitcoin ETF approval has fewer hurdles ahead.
Following the positive news, the price of Bitcoin (BTC) hit close to $63,000 for the first time since April and several altcoins saw their prices post triple-digit gains.
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers in the last 24 hours were NuCypher (NU), Keep Network (KEEP) and Orchid (OXT).
NuCypher partners with Keep Network
NuCyper is a protocol focused on building decentralized encryption, access control and key management system services for public blockchains by offering end-to-end encrypted data sharing and decentralized storage solutions.
Data from Cointelegraph Markets Pro and TradingView shows that after hitting a low of $0.283 in early trading hours on October 15, the price of nine catapulted 535% to an intraday high of $1.80 as its 24-hour trading volume soared skyrocketed 19,440% to $2.152 billion.
The surge in price and trading volume for NU comes as the project helped facilitate the launch of tBTC v2 on the Keep network, which is designed to “extend the censorship-resistant properties of Bitcoin across all networks that can interact with Ethereum (ETH).”
Censorship resistance is coming to the Ethereum network
Keep Network is a protocol designed to provide privacy-focused infrastructure on public blockchains by creating an incentive network for storing and encrypting private data.
VORTECS™ data from Cointelegraph Markets Pro started detecting a bullish outlook for KEEP on October 12, before the recent price rally.
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. .
As shown in the chart above, the VORTECS™ score for KEEP started to rise on October 12 and reached a high of 75 and the price increased by 585% the next day.
Along with the rise of KEEP came the skyrocketing price of NU as the two projects collaborated to release tBTC v2 on the Keep network.
Related: BREAKING: Nasdaq listing hints SEC may soon approve Valkyrie’s ETF application
Blockchain-based VPN service raises Orchid’s price
Orchid is a cryptocurrency-powered virtual private network (VPN) that describes itself as “the world’s first incentivized peer-to-peer privacy network.”
VORTECS™ data from Cointelegraph Markets Pro started detecting a bullish outlook for OXT on October 12, ahead of the recent price rally.
As seen in the chart above, the VORTECS™ score for OXT moved into the green zone on October 12 and hit a high of 75 on October 14, about 15 hours before its price soared 82% the following day.
A scroll through the project’s Twitter feed indicates heightened attention to privacy concerns as the impetus behind Friday’s price spike, which aligns with key NU and KEEP goals, suggesting the industry of data-related projects confidentiality might start to attract more attention.
The overall cryptocurrency market capitalization now stands at $2.482 billion and Bitcoin’s dominance rate is 46.6%.
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