Shiba Inu, Curve and Secret profits indicate that altcoin season is approaching
Shiba Inu, Secret surge to new highs, while CRV’s rally breaks a nearly year-long sideways trend.
As the price activity in the altcoin market has been on the rise for a few days, calls for an altcoin season have become stronger. Meanwhile, Bitcoin (BTC) is consolidating at the $62,000 support level, below its all-time high.
Usually, altcoin price movements are focused on a single type of token, such as meme coins or decentralized finance protocols, but the present market is witnessing gains across the board, which might indicate that altseason is heating up.
Secret and OpenSea have teamed together to launch anonymous NFTs
The Secret Network, which is powered by its native SCRT coin, is a blockchain technology with built-in data privacy for smart contracts and decentralized apps.
SCRT’s Score began to rise on October 22 and peaked at 79 on October 24, only six hours before the price rose 65 percent in the next two days to a new high of $9.66.
The introduction of the first anonymous nonfungible tokens (NFTs) on the Secret Network, which was made possible by a recent agreement with the largest NFT marketplace OpenSea, boosted SCRT’s price and momentum.
Curve’s ecosystem grows
The Curve ecosystem’s native currency is CRV, which is a decentralized exchange for stablecoins that employs an automated market maker to control liquidity.
CRV began to pick up on Oct. 25 and climbed to a high of 77 around the same time as the price increased 31.66% over the next day.
The rising price of CRV comes as the protocol continues to establish partnerships and integrations across the cryptocurrency ecosystem on multiple layer-one and layer-two networks.
Shiba Inu began as a meme coin in late 2020 and has since grown into an ecosystem that includes the ShibaSwap decentralized exchange and its own line of non-fungible tokens (NFTs) for its community to trade.
SHIB’s score continued to rise on October 23 and reached an all-time high of 89 on October 24, only seven hours before the price surged by 40.7 percent over the following two days to $0.000049, a new all-time high.
SHIB’s price has risen as a result of the launch of the Shiboshi Social Club, which is unique to Shiboshi NFT owners and provides special benefits to all members of the community.
The total cryptocurrency market capitalization is currently $2.621 trillion, with Bitcoin holding a 45 percent market share.
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