SafePal, Bifrost and Request Network soar after Bitcoin price hits $59K

Bitcoin (BTC), which started the month strong, and Dec. 1,s run to $59,000.053 indicates that bulls are starting to shake off fears stirred by taper talks at the Federal Reserve and the emergence a new strain COVID-19.

Altcoins saw their prices rise, and there are early hopes for a Santa Claus rally on crypto Twitter.

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

Cointelegraph Markets Pro and TradingView data show that the largest gainers in the last 24 hours were Request Network (REQ), Bifrost(BFC) and SafePalĀ® (SFP).

Request Network transactions reach an all-time record

Request Network (REQ), an Ethereum-based, decentralized payment system, allows users to send and collect funds via secure channels without the use of intermediaries.

Data from Cointelegraph Markets Pro showing a bullish outlook on REQ, VORTECS(tm), began to show up on Nov. 28, before the recent price increase.

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 (green), vs. REQ Price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for REQ rose into the green zone on Nov. 28, and hit a peak of 81 just 57 hours later, before the price increased 98% the following day.

As activity increases on the network, and as a result of the 32% increase in transactions in November, REQ prices have risen. According to the running tally, the transaction count has increased by 46.34% in the last 30 days and 67.32% in the past 90 days.

Bifrost announces ChainRunner Q

Bifrost (BFC), a multichain middleware platform, allows developers to create decentralized applications (DApps), capable of operating on top o multiple protocols.

Cointelegraph Markets Pro and TradingView data show that BFC prices surged 56.84% after hitting a low at $0.35 on Dec. 1. The intraday high was $0.556 due to its 24 hour trading volume exceeding $130 million.

BFC/USDT 4-hour chart. Source: TradingView

The price of BFC has risen after the Bifrost protocol launched its long-awaited ChainRunner Q protocol. This protocol provides users with pre-built DeFi strategies and allows them to borrow, transfer, buy, and leverage their cryptocurrency holdings.

Related: Bitcoin correction weakest in 2021, as Santa Claus rally hopes rises

SafePal now supports nine new blockchains

SafePal (SFP), a cryptocurrency wallet, offers hardware and software options to investors who hold assets from the Ethereum and Binance Smart Chains.

Data from Cointelegraph Markets Pro VORTECS(tm), began to detect a bullish outlook on SFP on Nov. 29, before the recent price increase.

VORTECS(tm), Score (green) vs. the SFP price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for SFP spiked to the green zone on Nov. 29, and reached a peak of 81 just 41 hours later, before the price rose 38% the following day.

SFPs price has risen since the announcement that it added support for Cardano and Nervos Networks, Fantom and Avalanche as well as Boba Networks, Arbitrum and Optimism.

The total cryptocurrency market is now worth $2.67 trillion, and Bitcoins dominance rate at 41.2%.

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

https://cointelegraph.com/news/safepal-bifrost-and-request-network-soar-after-bitcoin-price-hits-59k