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Earnings from Secret, Curve and Shiba Inu suggest an altcoins season ahead

SCRT and SHIB reach new highs, while CRV’s rally breaks a nearly year-long sideways trend.

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Announcements of an “altseason” are getting louder and louder, as price action in the altcoin market has been on the rise for a few days. Meanwhile, the Bitcoin price continues to consolidate below its all-time high near the USD 62,000 support level.

Often, movements in altcoins focus on a specific token sector, such as meme currencies or decentralized finance protocols, but the current market is experiencing increases across all sectors, possibly a sign that a new altseason is in the making.

Data from Cointelegraph Markets Pro and TradingView show that the currencies that rose the most in the last 24 hours were Secret (SCRT), Curve (CRV) and Shiba Inu (SHIB).

Secret partners with OpenSea to launch anonymous NFTs

Secret Network is a blockchain protocol with built-in data privacy for smart contracts and decentralized applications that is powered by its native SCRT token.

According to data from Cointelegraph Markets Pro, market conditions for SCRT have been favorable for some time.

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, recent price movements and Twitter activity.

VORTECS™ Score (green) versus SCRT price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for SCRT began to rally on October 22 and reached a high of 79 on October 24, about six hours before the price surged 65% over the next two days to set a new record high of USD 9.66.

SCRT’s price rise and momentum follow the launch of the first anonymous non fungible tokens (NFT) on Secret Network, which was made possible by a recent partnership with the largest NFT marketplace, OpenSea.

Curve extends its ecosystem

CRV is the native token of the Curve ecosystem, which is a decentralized exchange for stablecoins that uses an automated market maker to manage liquidity in the protocol.

VORTECS ™ data from Cointelegraph Markets Pro began detecting a bullish outlook for CVR on October 25, prior to the recent price revaluation.

VORTECS™ Score (green) versus CRV price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for CRV began to rally on October 25 and rose to a high of 77 around the same time the price increased 31.66% over the next day.

The rise in CRV’s price comes as the protocol continues to establish partnerships and integrations across the cryptocurrency ecosystem on multiple layer one and layer two networks.

Shiba Inu creates a social club

Shiba Inu originated as a meme currency in the late 2020s and has evolved into an ecosystem that includes the decentralized ShibaSwap exchange and its own NFT line for members of its community to trade.

VORTECS™ data from Cointelegraph Markets Pro began detecting a bullish outlook for SHIB on October 24, prior to the recent price spike.

VORTECS™ Score (green) versus SHIB price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for SHIB began to rally on October 23 and rose to a high of 89 on October 24, about seven hours before the price increased 40.7% over the next two days to set a new all-time high of USD 0.000049.

SHIB’s price increase follows the introduction of the Shiboshi Social Club, which is exclusive to Shiboshi NFT owners and offers exclusive benefits to all community members.

The global cryptocurrency market capitalization currently stands at USD 2.621 trillion and Bitcoin’s dominance rate is 45%.

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