After Jerome Powell, the Federal Reserve chairman, reiterated the plan by the bank for increasing the interest rates by the start of 2022 also to scale down the bond-buying program since the coronavirus emerged in March 2020, prices and the market of Cryptocurrency reversed direction on 15th Dec.
Following the news, the price of Bitcoin (BTC) increased by 1.65%, leading to $49,000, while the price of Ether climbed back over $4,000 for the first time. Altcoins continued with over double-digit increases, and it looks like bulls regained control over the changing market for the time being.
ECOMI, being a tech-based firm, focuses largely on developing the digital market allowing users to do the transaction of NFT using social networks as the exchange medium. Before the latest price gain, VORTECSTM data by the Cointelegraph Markets Pro indicated a favorable prognosis for OMI on 1st Dec.
The VORTECS Score act as the algorithmic assessment of past and present market circumstances produced from a variety of data table points which includes market understanding, trading volume, and activities on Twitter activity.
Aragon hosting DAO Hackathon
Aragon is an Ethereum protocol having a network that aids in the development of governance structures for decentralized autonomous organizations (DAOs) in order to promote community involvement.
Prior to the latest price gain, VORTECS data collected from Cointelegraph Markets began indicating an optimistic prognosis for ANT on Dec 12.
The ANT price rise coincides with a DAO worldwide Hackathon aimed at attracting developers to the ecosystem of Aragon, and there are reports that projects of DAOpunks NFT may offer an airdrop to ANT holders.
RAMP, which is known as the multi-chain decentralized finance (DeFi) system, assists investors in becoming efficient with their resources. The price of RAMP skyrocketed with the establishment of a liquidity mining incentive scheme, which resulted in a significant increase in the protocol’s overall value locked in. At the moment, $63.3 million has been invested in Polygon, Ethereum, and Binance Smart Chain.
The total Cryptocurrency market capitalization is currently $2.126 trillion, with Bitcoin commanding 41.7 percent of the market.