Bitcoin (BTC) and the general cryptocurrency market came to life on April 30 when an uneventful close occurred upon the expiration of this month’s $4.2 billion options without any sign of controversy.
MicroStrategy CEO Michael Saylor’s revelation that the company saw a 52% increase in revenue compared to the same quarter last year will likely strengthen the argument that organizations should keep Bitcoin on their balance sheet as a way to combat inflation and attract new investors.
Central bank digital currencies (CBDC) are also gaining ground, as the Bank of England revealed it is moving forward with plans to launch a digital pound and the Central Bank of France made headlines on April 29 after settling a $100 million euro bond using a CBDC that was hosted on the Ethereum (ETH) network.
Altcoins show significant strength
While much of the mainstream news and analysts ‘ focus revolves around Bitcoin and Ethereum, a handful of altcoins caught the attention of traders on Friday as their prices saw double-digit gains
One of the strongest of the day was IoTeX, which rose 75% to a new all-time high at $0.085. The blockchain project focuses on solving the issues of scalability, privacy, and high operating costs that are limiting the mass adoption of the Internet of Things (IoT) ecosystem.
As seen in the chart above, the Vortecs ™ score began to rise on April 26 and peaked at 76 on April 27 before rising to 73 again on April 29. It’s worth noting that the vortecs ™ score reached 73 approximately 10 hours before the price rose 75% to a new all-time high at $0.0857.
A second currency that has been performing well in recent days and is now recording a VORTECS ™ score of 95 is PARSIQ (PRQ), an analytics platform that offers cutting-edge tools for blockchain technology analysis in a variety of industries.
PRQ’s uptrend was first detected on April 28, when the Vortecs ™ score reached the green zone. The score remained close to that level (67) over the next day and then rose rapidly to a high of 95 on April 30, as the price of the PRQ rose further.
A score of 95 is one of the highest scores ever recorded in the VORTECS ™ system , and previous cases of mid to high 90s scores have been shown to precede greater price appreciation, as Polygon (MATIC) recently demonstrated this week.Overall, altcoins rebounded across the board, increasing total market capitalization to $2.177 trillion, while Bitcoin’s dominance rate fell to 48.8%.