Livepeer, Loopring and Keep3rV1 rally while Bitcoin tests underlying support

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Old season rumors mount on November 9th as altcoins benefit from Bitcoin’s rise to a new all-time high and the subsequent consolidation that tends to occur after (BTC) pulls back to retest underlying support levels.

As is often the case when Bitcoin pulls back during a bull market, some of the outflows find their way into the altcoin market and the graph below shows that this dynamic is at play on November 9th.

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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 Livepeer (LPT), Loopring (LRC) and Keep3rV1 (KP3R).

Livepeer moderates COLLIDE

Livepeer is a decentralized video streaming platform based on the Ethereum (ETH) network and intended to offer a viable blockchain-based alternative to centralized broadcasting solutions.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for LPT on Nov. 7 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. LPT price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for LPT began to rise on November 7th, climbing to a high of 75 in about an hour before the price rose 226% to a new record high of 99 over the next two days .83 USD rose.

The price increase for LPT comes after the protocol co-hosted the COLLIDE event with the Glass streaming platform, which was the first live concert to include the live minting of video non-fungible tokens (NFT).

Loopring is expanding its presence in the Layer 2 race

Loopring is a Layer Two (L2) scaling solution for the Ethereum network that uses zk rollups to lower fees and increase throughput for decentralized exchanges (DEX) and payment protocols.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for LRC on November 5th, ahead of the recent price hike.

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

As can be seen in the graph above, the VORTECS ™ Score for LRC started rising on November 4th and hit a high of 72 on November 5th, about five hours before the price rose 142% over the next four days.

The sustained momentum for loopring comes from the fact that the Layer 2 protocol continues to offer lower transaction fees compared to other L2 solutions like Arbitrum and Optimism as fees remain elevated on the Ethereum network.

Related: Kraken is forecasting a BTC price of $ 96,000 as analysts say the market cap of 1 ton of Bitcoin is “now cemented”

Keep3rV1 has a community vote

Keep3rV1 is a project that serves to connect projects with external development sources by creating a decentralized, blockchain-based job exchange.

Cointelegraph Markets Pro’s VORTECS ™ data began to see a bullish outlook for KP3R on November 5th, ahead of the recent price hike.

VORTECS ™ Score (green) vs. KP3R price. Source: Cointelegraph Markets Pro

As can be seen in the graph above, the VORTECS ™ Score for KP3R was in the green for several days, hitting a high of 71 on November 5th, about 23 hours before the price rose 79% over the next three days.

The price hike for KP3R comes as the protocol undergoes a governance vote that allows token holders to vote for the top pools in its decentralized stable coin framework, Fixed Forex.

The total market cap for cryptocurrencies is now $ 2.902 trillion and the dominance of Bitcoin is 43.3%.

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.