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

On Oct. 25, the cryptocurrency market was abuzz with the sight of several altcoins reaching new all-time highs, and Bitcoin (BTC’s) return to $63,000. This has traders hoping for a resumption in the bullish uptrend.

The top 7 coins that saw the largest 24-hour price changes. Source: Cointelegraph Markets Pro

Data from TradingView and Cointelegraph Markets Pro shows that PARSIQ (PRQ), HNS (HNS), and NEAR Protocol(NEAR) were the largest gainers in the last 24 hours.

PARSIQ promotes interoperability among networks

PARSIQ, a blockchain-based analytics platform, specializes in connecting real-world applications to blockchain activity.

Data from Cointelegraph Markets Pro shows that market conditions have been favorable for PRQ for some time.

Cointelegraph’s exclusive VORTECS(tm), Score is an algorithmic comparison between historical and current market conditions. It is derived from a combination data points, including trading volume, market sentiment and recent price movements, as well as Twitter activity.

VORTECS(tm), Score (green) vs. the PRQ price. Source: Cointelegraph Markets Pro

The chart shows that the VORTECS(tm), Score for PRQ started to rise on Oct. 22, and reached a peak of 72 on October 24, one hour after the price rose 41% the following day.

PRQ’s price has risen because the PARSIQ team is promoting interoperability capabilities. PARSIQ currently supports multiple blockchain networks, including Ethereum (ETH), Solana(SOL), Binance Smart Chain/BSC), Polkadot/DOT, and Algorand/ALGO.

Handshake Web 3.0 domains gain popularity

Handshake is a decentralized and permissionless naming protocol. It aims to replace the existing Certificate Authorities or naming systems.

Cointelegraph Markets Pro and TradingView data show that HNS prices spiked 74% after hitting an Oct. 24 low of $0.213 and then soaring to $0.371 intraday as the HNS trading volume soared by 491% to $3.9million.

HNS/USD chart for 4 hours. Source: TradingView

As the price of HNS rises, the protocol’s domain name service (DNS), which is gaining traction, users begin buying Handshake domains. It is one of few DNS providers that supports Web 3.0.

Related: Bitcoin price action 2021 so far mirrors 2017, Will it continue?

NEAR Protocol announces a $800 million development grant

NEAR Protocol, a low-cost layer one protocol, is designed to make decentralized applications available on the internet. It also aims to allow interoperability among different networks.

Cointelegraph Markets Pro data shows that market conditions have been favorable for NEAR for some time.

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

The chart shows that the VORTECS(tm), Score for NEAR started to rise on Oct. 22, and hit a peak of 82 just 41 hours later, before the price rose 33% the following day.

NEAR price rallies as protocol hosts Nearcon and announces an $800 million ecosystem grant to stimulate growth in NEAR ecosystem.

The total cryptocurrency market is now worth $2.634 trillion. Bitcoin’s dominance rate at 45.5% is also noteworthy.

com. You should do your research before making any investment or trading decision.

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Jason Basler

Jason Basler– Financial Updates My Name is Jason Basler and I am also the main source from the ‘Topnewsscoop.com’ of all the exclusive and most delicate visualization of the activities in the business sector. My first step towards this journey was taken in the very early years of my life. I started with an independent financial consultant. However, I only had almost 4 years of skills and experience in this market. I have always been a free personality and like to fly one place to another, to explore more and more. Moreover, this passion and craze of traveling gave me a chance to report a section for best news associations. Last but not least, I am presently working full-time as an editor. Address: 4830 Crim Lane Dayton, OH 45402, United States of America Phone Number:  +1 937 727 7917 Email: [email protected]

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