Positive price movements during bear markets are noteworthy primarily because they can help identify projects that have a good chance of surviving until the next bull cycle.
Generally, price action in June has been stagnant for much of the crypto market because traders are nervous about bitcoin (BTC) fluctuations around the $30,000 support level, but there have been a few strong indications.
Data from Cryptooshala Markets Pro and trade view shows that the top three players in June were Chainlink (LINK), Ocean Protocol (OCEAN) and Helium (HNT).
Chainlink introduces staking
The Chainlink protocol is the most widely used oracle network in the cryptocurrency ecosystem, which allows blockchains to securely interact with external data flows for the proper functioning of smart contracts.
Earlier this week, the project revealed the roadmap for the first time and indicated that LINK staking will be launched soon. Cryptooshala Markets Pro’s NewsQuakes™ Alert System was able to capture a bidding announcement for LINK from June 7th, prior to the recent price increase.
As you can see in the chart above, after the NewsQuakes™ warning for LINK, which was registered at noon on June 7th, the price of LINK continued to rise by 29.55% over the next two days.
Ocean Protocol introduces NFT data
Ocean Protocol’s native OCEAN token also performed well this week, with data from Cryptooshala Markets Pro and trade view shows that since hitting a low of $0.1965 on June 3, the price of OCEAN has gained 64.53% to reach a daily high of $0.3233 on June 9.
The rise in price of OCEAN comes after the release of the Ocean ONDA v4 data marketplace, which debuted the release of NFT data that can be used to simulate copyright or exclusive license of a data asset.
Along with the introduction of NFTS data, the protocol also introduced Ocean data framing, which allows token holders to stake their OCEAN tokens and earn up to 125% per annum.
Chainlink brings Keepers and VRF to the Avalanche blockchain
Helium owners vote to support new networks
The Helium protocol is an Internet of Things-focused 5G project that enables low-power wireless devices to communicate with each other and send data through their network of nodes.
Data from Cryptooshala Markets Pro and trade view shows that since hitting a low of $6.35 on May 29, the price of HNT has risen 79.14% to hit a daily high of $12.28 on June 9 as 24-hour trading volume rose 249% to $126.7 million .
HNT’s breakthrough came when the Helium community voted for HIP-51, a proposal that covered the economic and technical constructs needed to scale the Helium network to support new users, devices, and different types of networks, including cellular, VPN, WiFi, and LPWAN.
Voters ultimately approved the proposal on June 8, with 96.94% of voters approving the move to make Helium into a “network of networks”.
The views and opinions expressed here are solely those of the author and do not necessarily reflect those of Cryptooshala.com. Every investment and trading step involves risk, you should do your own research when making a decision.
Credit : cointelegraph.com