Privacy-conscious altcoins soar after Bitcoin’s ETF news sparked a market-wide rally

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Traders and the market are extremely bullish on October 15th after rumors and a number of documents suggest that the path to Bitcoin ETF approval has fewer obstacles ahead.

After the positive news, the price of Bitcoin (BTC) rose to nearly $ 63,000 for the first time since April, and several Altcoins posted triple-digit gains.

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Top 7 coins with the highest 24 hour price change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners over the past 24 hours have been NuCypher (NU), Keep Network (KEEP) and Orchid (OXT).

NuCypher works with Keep Network

NuCyper is a protocol that focuses on creating decentralized encryption, access control and key management system services for public blockchains by providing end-to-end encrypted data sharing and decentralized storage solutions.

Data from Cointelegraph Markets Pro and TradingView show that after hitting a low of $ 0.283 in the early hours of trading on Oct.15, the new price was catapulted 535% to an intraday high of $ 1.80 during Dec. -Hour trading volume up 19.440% to $ 2.152 billion.

NU / USD 4 hour chart. Source: TradingView

The rise in price and trading volume for NU came as the project helped facilitate the rollout of tBTC v2 on the Keep Network, with the goal of “extending the censorship-resistant properties of Bitcoin to any network that interacts with Ethereum (ETH) can.

Censorship resistance is coming into the Ethereum network

Keep Network is a protocol that was developed to offer a privacy-oriented infrastructure on public blockchains by creating an incentive network for storing and encrypting private data.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for KEEP on October 12, ahead of the recent price hike.

The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, current price movements and Twitter activity.

VORTECS ™ Score (green) vs. KEEP price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for KEEP started rising on October 12th, climbing to a high of 75 and the price rose 585% the next day.

The surge in momentum for KEEP went hand in hand with the surge in NU price as the two projects worked together to release tBTC v2 on the Keep Network.

Related: BREAKING: Nasdaq listing suggests the SEC could soon approve Valkyrie’s ETF filing

Blockchain-based VPN service increases the price of Orchid

Orchid is a cryptocurrency-powered virtual private network (VPN) that describes itself as “the world’s first peer-to-peer incentivized data protection network”.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for OXT on October 12, ahead of the recent price surge.

VORTECS ™ Score (green) vs. OXT price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for OXT climbed into the green on October 12th, hitting a high of 75 on October 14th, about 15 hours before the price rose by 82% the next day.

A scroll through the project’s Twitter feed suggests an increased focus on privacy concerns as a driver of Friday’s price hike, which is in line with Nu and KEEP’s main goals, suggesting that the privacy-related projects sector may begin to pull in more Attention.

The total market cap of the cryptocurrency is now $ 2.482 trillion and the dominance of Bitcoin is 46.6%.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every step of investing and trading involves risk, so you should do your own research when making a decision.