Web 3.0-focused altcoins soar as the need for truly decentralized crypto grows

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The cryptocurrency marketplace is abuzz connected Oct. 25 arsenic the show of aggregate altcoins hitting caller all-time highs and Bitcoin's (BTC) instrumentality to $63,000 has traders looking for a resumption of the bullish uptrend.

Top 7 coins with the highest 24-hour terms change. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers implicit the past 24-hours were PARSIQ (PRQ), Handshake (HNS) and NEAR Protocol (NEAR).

PARSIQ advocates for interoperability betwixt networks

PARSIQ is simply a blockchain-based analytics level that specializes successful connecting blockchain enactment to real-world applications.

According to information from Cointelegraph Markets Pro, marketplace conditions for PRQ person been favorable for immoderate time.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic examination of humanities and existent marketplace conditions derived from a operation of information points including marketplace sentiment, trading volume, caller terms movements and Twitter activity.

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

As seen successful the illustration above, the VORTECS™ Score for PRQ began to prime up connected Oct. 22 and climbed to a precocious of 72 connected Oct. 24, conscionable 1 hr earlier the terms accrued 41% implicit the adjacent day.

The boost successful terms of PRQ comes arsenic the squad down the protocol has been focused connected promoting the interoperability capabilities of PARSIQ, which presently offers enactment for aggregate blockchain networks including Ethereum (ETH), Solana (SOL), Binance Smart Chain (BSC), Polkadot (DOT), and Algorand (ALGO).

Handshake Web 3.0 domains summation traction

Handshake is simply a decentralized, permissionless naming protocol that aims to beryllium an alternate to the existing Certificate Authorities and naming systems.

Data from Cointelegraph Markets Pro and TradingView shows that aft hitting a debased of $0.213 connected Oct. 24, the terms of HNS spiked 74% to an intraday precocious astatine $0.371 arsenic its 24-hour trading measurement surged by 491% to $3.9 million.

HNS/USD 4-hour chart. Source: TradingView

The rising terms of HNS comes arsenic the protocol's domain naming work (DNS) begins to summation traction and users commencement buying up Handshake domains arsenic it is 1 of the fewer DNS providers that supports Web 3.0.

Related: Bitcoin terms enactment successful 2021 truthful acold mirrors 2017 — Will it continue?

NEAR Protocol announces an $800 cardinal improvement grant

NEAR Protocol is simply a low-cost layer-one protocol designed to marque decentralized applications usable connected the net and the task aims to supply interoperability betwixt abstracted networks.

According to information from Cointelegraph Markets Pro, marketplace conditions for NEAR person been favorable for immoderate time.

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

As seen successful the illustration above, the VORTECS™ Score for NEAR began to prime up connected Oct. 22 and reached a precocious of 82 astir 41 hours earlier the terms accrued 33% implicit the adjacent day.

The rally successful NEAR terms comes arsenic the protocol hosts its Nearcon lawsuit and besides announced an $800 cardinal ecosystem improvement assistance intended to provoke maturation successful the NEAR ecosystem.

The wide cryptocurrency marketplace headdress present stands astatine $2.634 trillion and Bitcoin’s dominance complaint is 45.5%.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph.com. Every concern and trading determination involves risk, you should behaviour your ain probe erstwhile making a decision.

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