Cryptocurrency bulls continued to face stiff headwinds in the week of March 14, which started with a vote in Europe on whether to ban proof-of-work cryptocurrencies, which eventually disapproved†
However, despite this pressure, several cryptocurrency projects managed to gain more than 20% gains on Monday thanks to new partnerships and protocol updates.
Top 7 coins with the highest 24-hour price change. Source: Coin-Crypto Markets Pro
Data from Coin-Crypto Markets Pro and Trading Display shows that the biggest winners of the last 24 hours were Request Network (REQ), Hifi Finance (MFT) and Selfkey (KEY).
Metaverse payments with Request Network
Request Network (REQ) is an Ethereum-based decentralized payment system that allows users to create, share or fulfill a payment request through secure channels without an intermediary.
VORTECS™ data from Coin-Crypto Markets Pro began detecting a bullish outlook for REQ on March 13, ahead of the recent price surge.
The VORTECS™ score, exclusive to Coin-Crypto, 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) vs. REQ price. Source: Coin-Crypto Markets Pro
As can be seen in the chart above, the VORTECS™ score for REQ started rising on March 13, about eight hours before the price rose 45% the following day.
The increase in momentum for REQ comes after the addition of support for the Jarvis Network’s Euro stablecoin (jEUR) to coincide with the project’s ongoing push to become the best payment provider for operations in the evolving Metaverse.
Hifi Finance adds community governance
Hifi Finance is a decentralized lending protocol that allows crypto holders to borrow against the value of their assets using bond-like instruments that represent an on-chain obligation that settles at a specified date in the future.
Data from Coin-Crypto Markets Pro and Trading Display shows that since the low of $0.006 on March 6, the price of MFT has risen 5% to reach a daily high of $0.009 on March 14, while the 24-hour trading volume rose 1.131% to $235 million.
MFT/USDT 4-hour chart. Source: TradingView
The sudden spike in price and trading volume for MFT follows an announcement that Hifi Finance will soon integrate governance capabilities for MFT holders that will be able to make proposals and vote on the future development of the protocol.
Related: Bitcoin Could Crush the Russian Ruble by Rising Another 140%, Classic Tech Setup Suggests
Decentralized Identity Management
Selfkey is a blockchain-based identity platform that aims to advance the KYC process and support the Self-Sovereign Identity ethos through its KYC-Chain.
VORTECS™ data from Coin-Crypto Markets Pro began detecting a bullish outlook for REQ on March 7, ahead of its recent price surge.
VORTECS™ Score (green) vs. KEY price. Source: Coin-Crypto Markets Pro
As can be seen in the chart above, the VORTECS™ score for KEY rose to the green on March 7, reaching a high of 85 for about 72 hours before the price started rising by 35.6% over the next four days.
The turnaround in KEY’s price comes as the project works to integrate SelfKey and its KYC-Chain decentralized identity management system into the cryptocurrency ecosystem as a way to comply with global KYC/AML regulations.
The total cryptocurrency market cap now stands at $1,732 trillion and Bitcoin’s dominance is 42.7%.
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