Altcoins turn bullish even as Bitcoin price slips below $46K again

As Bitcoin (BTC), trades at just under $47,000, the mood is growing in cryptocurrency. Analysts are warning of an “explosive volatility phase” but few can predict how it will unfold.

The Bitcoin price is falling, but the altcoin market is alive. Numerous tokens are seeing notable gains, particularly in the DeFi cohort.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

Data from TradingView and Cointelegraph Markets Pro show that Everest (ID), PAC Protocol(PAC) and Ravencoin were the largest gainers in the last 24 hours.

Everest expands its interoperability

Everest is a blockchain-based company that focuses on eliminating barriers to public services, enhancing economic inclusion and creating a global digital transaction protocol without the use of any devices. It also has built-in identity features.

Data from Cointelegraph Markets Pro VORTECS(tm), began to detect a bullish outlook on ID Dec. 30, before the recent price rise.

Cointelegraphs exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (grey) vs. the ID price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for ID started to rise on December 30th and reached 70 approximately 44 hours later. This was just before the price increased by 115% in the following three days.

As the Everest project continues to build bridges between EverChain and multiple blockchain networks, such as Polygon (MATIC), Binance Smart Chains (BSC), Avalanche(AVAX), and Solana [SOL], the rising price of ID is a result.

PAC Protocol launches data storage accounts

The token price of PAC Procotol, a next generation blockchain masternode network with more than 18,000 active members, increased 36% in the past 24 hours.

Cointelegraph Markets Pro data and CoinGecko data show that PAC prices rose 79% after hitting a low at $0.002 on December 31. The price of PAC reached a daily high of $0.00359 on January 3rd as the 24-hour trading volume increased by 50%.

PAC/USD 1-hour chart. Source: CoinGecko

The project is building momentum as it has started rolling out its beta version of the yanDNA(tm data storage accounts. Early adopters will get 5 gigabytes free storage.

Related: Bitcoins Birthday Celebrated by the Third Largest Whale with 456 BTC Buys

Ravencoin celebrates 4 years of its anniversary

Ravencoin, a cryptocurrency network that facilitates the efficient transfer of assets between parties, has seen its value rise 34% in the past 24 hours.

Data from Cointelegraph Markets Pro VORTECS(tm), began to detect a bullish outlook on ID Dec. 30, before the recent price rise.

VORTECS(tm), Score (green) vs. RVN Price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for RVN started to rise on Dec. 29, and reached a peak of 87 on December 30, just 15 hours before the price rose 45.5% over four days.

RVNs bullish move comes as it celebrates the fourth anniversary of its launch. RVN now plans to pivot to develop the “next generation financial technology for Wall Street on Ravencoin” and expand its NFT capabilities.

The total cryptocurrency market is now worth $2.253 trillion, and Bitcoins dominance rate of 39.4%.

com. You should do your research before making any investment or trading decision.

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