LCX, ILV, TOKE and no less than 10 different altcoins hit new all-time highs alongside ETH at this time.
During bull markets, altcoins are likely to accrue positive aspects when Bitcoin worth consolidates and at they run in tandem with BTC worth throughout breakouts. This dynamic seems to be at play at this time as a result of a number of altcoins went parabolic on the similar time that BTC made a run at $64,000 and Ether (ETH) hit a new all-time excessive above $4,500.
According to information from Messari, 31 tokens have established new record-highs previously 24-hours and the overall cryptocurrency market cap elevated from $2.619 trillion to $2.732 trillion in a single day.
Let’s take a more in-depth have a look at the motivating components behind the rallies in LCX (LCX), Illuvium (ILV) and Tokemak (TOKE).
LCX advantages from new alternate listings
LCX is the native token of the Liechtenstein Cryptoassets Exchange which was established in 2018. Currently, the alternate is in possession of no less than 8 cryptocurrency-related registrations by the Financial Market Authority Liechtenstein and this enables the platform to legally supply alternate companies and safety token choices (STO).
Data from CoinGecko reveals that since hitting a low of $0.125 on Oct. 17, the worth of LCX has rallied 250% to a every day excessive at $0.44 on Nov. 2 as its 24-hour buying and selling quantity spiked 257% to $18.3 million.
The sudden spike in worth and buying and selling quantity comes a day after LCX token was listed on Coinbase Pro and the Singapore-based Bitrue alternate.
Illuvium gameplay preview ship ILV worth increased
Illuvium is an open-world fantasy battle sport that’s constructed on the Ethereum newtork and has the objective of changing into the primary AAA-rated blockchain-based sport that comes with facets of decentralized finance (DeFi) and nonfungible tokens (NFT).
Data from TradingView reveals that after reaching a low of $452.9 on Sept. 29, the worth of ILV has surged 171% to ascertain a new document excessive at $1,231 on Nov. 2 as its 24-hour buying and selling quantity jumped 122% to $105 million.
The constructing momentum for ILV comes following the discharge of uncooked footage depicting the gameplay of the platform. This gave avid gamers their first style of the Illuvium ecosystem.
Related: Axie Infinity, Decentraland and ‘metaverse’ cryptos rally after Facebook rebrands to Meta
Tokemak incorporates ‘Token Reactors’
Tokemak is a decentralized liquidity and market-making protocol that helps an “efficient and sustainable liquidity” throughout the DeFi ecosystem.
Data from CoinGecko reveals that since buying and selling at a low of $29.98 on Sept. 21, the worth of TOKE has elevated 145.65% to achieve a new document excessive at $73.27 on Nov. 2 as its 24-hour buying and selling exercise remained comparatively secure close to $8 million.
The regular climb within the worth of TOKE comes as the overall worth locked on the Tokemak platform reached a new all-time excessive of $767.9 million in line with information from Defi Llama. The current rollout of “Token Reactors” on the Tokemak dashboard enable customers to stake tokens from different protocols such as Alchemix (ALCX) and Olympus (OHM) to earn TOKE rewards.
The general cryptocurrency market cap now stands at $2.732 trillion and Bitcoin’s dominance price is 43.8%.
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