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Thursday, October 28, 2021

Altcoins Getting Piled On By Traders

The strength shown by Bitcoin in the last few weeks has definitely helped altcoins gain some momentum, with quite a few tokens seeing major gains. As of now, Bitcoin has sent its price crashing over the $50,000 resistance level, and most of the market bulls have been trying to secure a daily close that would see them clearly above the oft-disputed level. According to the information provided by TradingView and Cointelegraph Markets Pro, the largest gainers over the last 24 hours have been Linear, Presearch, and Secret. 

Altcoins Slowly Gaining Steam

One of the altcoins which have shown favorable movement is Linear. This is a decentralized delta-one asset protocol that is simply a cross-chain compatible between the Smart Chain of Binance and the network of Ethereum. This network is mostly utilized to support the trading, creation, and management of most liquid synthetic assets. As mentioned by Cointelegraph Markets pro, the market conditions for this token currency seem to be quite favorable for quite a long time now. 

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Secret is also one of the altcoins which managed to carve its niche out. This is the native currency of the Secret Network, which is a protocol of the blockchain technology- built-in data privacy which is used for decentralized applications or smart contracts. The increase in the price of this token currency comes as the protocol was completely ready to go through its protocol update- referred to as Supernova- which would see it getting integrated with the IBC protocol. 

The last one among the altcoins to get some major boost has been Presearch which is a decentralized search protocol based on blockchain. This token currency is usually community-driven and also allows its users to go through their searches privately, whilst rewarding them for their activity.

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