Several altcoins have decided to rally, and the alt season indicator provided by Cointelegraph Market Pro signals that this momentum will last. It has been the direct result of optimism that has flown through the crypto market as developments of a bullish nature in the price of Ethereum and Bitcoin have renewed discussions about a double-pump rally, reminiscent of 2013.
This could inevitably see the price of Bitcoin going above the level of $100K. As mentioned above, this price action isn’t just limited to the top market leaders in cryptocurrency. Several other token currencies have also benefited heavily from this move. According to data received from TradingView and Cointelegraph markets Pro, the biggest gainers over the last 24-hours have been Aragon, Presearch, and IOTA.
Altcoins Like Presearch Has Benefited Heavily From Bullish Developments
The biggest performer amongst the altcoins has been Presearch, which is a decentralized search engine that is driven by the community and based on blockchain. This search engine also allows users to earn rewards as well as search privately for their queries. VORTECS data received from Cointelegraph markets Pro has mentioned that there was a bullish outlook in place for this token currency ever since the 1st of September- before the price increased.
The boost in the price, as well as the momentum, came after the project declared that the application of Presearch Android would be added to the choice screen on phones with a factory reset.
One of the altcoins that have benefitted the most has been Aragon- which is a network-based protocol of Ethereum that majorly focuses on the creation of decentralized autonomous organizations- strictly as a way of helping projects develop their governance structures. This would help their communities get involved with the protocol development.
With such a major profit secured by altcoins, the market cap over the cryptocurrency sector stands at $2.214 trillion, with the dominance rate of Bitcoin settling at 41.9%.