As the market approaches November and bullish expectations rise, let’s take a look at some projects where the data hints at possible upside breakouts.
The Polkadot Network (DOT) is a sharded multi-chain protocol designed to facilitate the cross-chain transfer of any data or asset type, and the project is focused on increasing interoperability between individual networks in the blockchain ecosystem. Data from Cointelegraph Markets Pro and TradingView show that the DOT has been gaining momentum over the past couple of months, with its price rising 95% from a low of $ 26.05 on September 29 to a new all-time high of $ 51.57 1 November as its 24-hour trading volume rose 135% to $ 2.93 billion.
The growing strength of DOT is largely due to the upcoming launch of Polkadot protocol parachain auctions. It is likely that traders are looking at the success of the parachain auctions that took place on Polkadot’s sister network, Kusama, and expect the same to happen for DOT. Polkadot Parachain Auctions Developed Throughout 2021 And The Excitement Of Launching November 4thappears to be driving the DOT consolidation to a new all-time high of $ 51.57 today.
VORTECSTM data from Cointelegraph Markets Pro began detecting a bullish DOT outlook on October 27th before the recent price rally.
As you can see from the chart above, the VORTECSTM estimate for the DOT started rising on October 27 and peaked at 80 about two hours before the price started to rise 28% over the next five days.
Revolve Games chooses Chromia
Chromia (CHR) is a tier blockchain network compatible with the Ethereum Virtual Machine (EVM) and capable of boosting second tier performance on Ethereum and Binance Smart Chain. TradingView data shows that since falling to $ 0.296 on October 27, the CHR price has risen 101% to a daily high of $ 0.595 on October 31, as its 24-hour trading volume surged to $ 371 million.
The CHR price arises as the project’s gaming ecosystem has had several positive developments, including the announcement that blockchain gaming firm Revolve Games has selected Chromia to build and host its play-to-earn ecosystem, and the Chromia-based Mines of Dalarnia token listing on Binance.
Theta Expands Its NFT Ecosystem
Theta is a blockchain-based video streaming protocol designed to operate as a decentralized network, where users are rewarded for sharing bandwidth and computing resources with other network members. The momentum for THETA has been growing over the past few months as its NFT ecosystem has expanded and is currently preparing to host the launch of Katy Perry’s NFT project in December.
The token also gained momentum after it was announced that THETA bets would be reset with its TDROP governance token in February 2022, and the distribution each holder receives is determined by the average THETA bets during the evaluation period. VORTECSTM data from Cointelegraph Markets Pro began detecting a bullish outlook for THETA on October 28, before the recent price rally.
As you can see from the chart above, the VORTECSTM estimate for THETA rallied into the green on October 27 and peaked at 81 on October 28, about three hours before the price began to rise 42.3% over the next three days.
The total market capitalization of the cryptocurrency is currently $ 2.63 trillion, and the dominance rate of bitcoin is 43.8%.