Bitcoin (BTC) recouped some gains on Nov. 27 after Friday’s market sell-off sparked by the new COVID-19 variant plunged its price to lows of $53,533. As of press time, Bitcoin was trading at $55,000 after marking intraday highs at $55,316.
Amid the price drop, data showed that Nov. 25 marked the day with the largest single on-chain transaction volume in Bitcoin’s history. “Bitcoin set another all-time high for transaction volume yesterday with $36.5 billion of value settled on-chain,” noted researcher Kevin Rooke.
Courtesy: @KEROOKE Twitter/CoinMetrics.ioFor cryptoanalyst, Michaël van de Poppe “Massive corrections = massive buy opportunities”.
Notable for buying during most price dips, Salvadoran President Nayib Bukele once again tweeted about investing more than $5 million into Bitcoin as the price dropped under $54,000 on Friday. Since the past week, Crypto tokens linked to the burgeoning metaverse have surged, while traditional coins have lagged. Now, the reverse seems to be playing out as traditional coins revived fresh upside moves.
The Graph (GRT, +13.49%), NuCypher (NU, +18.23%), Band Protocol (BAND, +13.42%), Ethereum Name Service (ENS, +16.35%), Aragon (ANT, +43%) were significantly up in the last 24 hours.
NuCypher (NU)
NU declined to enter consolidation after its more than 1000% rally on Oct. 15. Bulls, however, revived a move to $1.36 as the Nucypher community remains ecstatic about Keep Network and NuCypher’s ongoing plans to integrate around a new network dubbed “the T Network” or “Threshold”.
On-lookers claim that the move is “the world’s first decentralized protocol merger.”
The Keep Network is a protocol allowing blockchain users to privately store and transfer data off-chain, with the team using its tech to build the decentralized Bitcoin tokenization protocol, tBTC. Notably, The Keep Network shares NU’s current positive bias as it is presently up 10%.
Band Protocol (BAND)
BAND has steadily declined since the start of November. The case reversed after bulls hit significant support at $6.44 on Nov. 26. A 30% rally to highs of $9.58 today ensued afterward.
On Nov. 18, OASIS announced its partnership with Band Protocol to bring Open Finance to Mass Market. Here, Band Protocol’s scalable and decentralized oracle solution coming to Oasis Network will empower the mission to bring mass adoption of Open Finance beyond traders and early adopters.
Earlier in November, BAND announced support for Injective Protocol through the IBC Oracle module to help them build the first cross-chain, fully decentralized exchange targeting derivatives assets.
Aragon (ANT)
Aragon is an Ethereum network-based protocol that focuses on the creation of decentralized autonomous organizations (DAOs), as a way to help projects develop governance structures so that their communities can get involved with the development of the protocol.
After nearly two months of consolidation, ANT revived a near 100% upside run to highs of $9.14 today.
Ethereum Name Service (ENS)
Earlier in November, the Ethereum Name Service protocol, which issues non-fungible tokens that double as Ethereum addresses and web domains, distributed an airdrop for its new ENS decentralized autonomous organization (DAO) token.
Ethereum Name Service is one of the day’s gainers, having risen by nearly 42% to mark highs of $84 today. ENS traded at $69 as of press time.
The Graph (GRT)
The Graph is an indexing protocol for organizing blockchain data. On Nov. 24, The platform announced that The Graph’s hosted service will now support zksync, an EVM-compatible ZK-rollup scaling solution, in a first of its kind move.
GRT traded at $0.97 as of press time.
Image Credit: @KEROOKE Twitter/CoinMetrics.io, Shutterstock
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