The price of Ethereum (ETH) rose to a new all-time high (ATH) of $4,461 on Oct. 29 after a successful start to the Ethereum 2.0 Altair Beacon Chain update, with 98.7% of the nodes upgraded at the time. A successful Altair upgrade to the Beacon Chain is seen as essential to clearing the way for the merge with the Ethereum mainnet and the transition to a proof-of-stake consensus mechanism in Ethereum 2.0.
The rally in ETH price is quite significant as Ethereum is often heralded as the leading indicator for increases in the valuations of Altcoins. When Ethereum appreciates at price, the prices of several Altcoins rally shortly thereafter.
Speaking on the bullish potential for Altcoin charts, Crypto analyst and trader, Cryptobirb notes ”Most Alts have been consolidating in major triangle patterns for months already. Moments before 10x rallies”.
This partly played out as selected tokens Dogelon Mars (ELON, +72.88%), Safemoon (SAFEMOON, +51.01%), Wilder World (WILD, +44.70%), Dvision Network (DVI, +44.72%), RedFOX (RFOX, +103.02%), Ambire AdEx (ADX, +83.13%) rallied above 50% following a string of positive developments.
Dogelon Mars (ELON) has been on a massive bull run since the start of October, with today’s 100% rally to highs of $0.0000015, marking the 6th day in the green. Following SHIB’s impressive bull run, spot and derivative traders decided to secure and/or rotate their profits into other Dog tokens, of which Dogelon Mars remains a beneficiary.
Safemoon, a decentralized finance (DeFi) token is pulling an impressive rally ahead of the highly anticipated Safemoon Twitter AMA tagged ”SafemoonSunday” on Oct. 31.
Ambire AdEx represents a decentralized solution for digital advertising that improves transparency while protecting user privacy. ADX, the native token of the Ambire AdEx rallied as much as 100% after a Binance listing announcement ”Binance will open trading for ADX/USDT, AUCTION/USDT, CELO/BUSD, FTM/RUB, NU/AUD, NU/RUB, REEF/BIDR and REEF/TRY trading pairs at 2021-10-29 10:00 AM (UTC)”.
Wilder World, Dvision, RedFOX Rally Amid “Meta” FOMO
Facebook’s decision on Oct. 28 to rebrand itself to Meta in line with its plans on building an avatar-filled metaverse helped spark a speculative rally across cryptocurrencies that belong to similar virtual world projects.
Meta presents significant upside opportunities for the nascent nonfungible token (NFT) sector. Speaking along these lines Raoul Pal, Founder/CEO of Global Macro Investor says ”There are great projects like @TheSandboxGame, @decentraland, @cryptovoxels, or @WilderWorld or whatever your flavor. But none of this can exist without crypto and blockchain. Without it, the metaverse is just a close game”.
Emil Angervall, co-founder of Corite believes that Meta would eventually collaborate with existing NFT projects in the space, which would help the crypto sector, on the whole, to come into the mainstream.
Metaverse projects and other NFT related tokens, notably Decentraland (MANA, +33.46%), Dvision Network (DVI, +44.72%), Wilder World (WILD, +44.70%), RedFOX (RFOX, +103.02%) have posted significant gains in the last 24 hours, confirming a price boom across digital assets that specifically focuses on virtual reality services.
WILD is the native token of Wilder World and serves as the governance token for the Wilder DAO, as well as to incentivize the expansion of the Wilder Metaverse. Dvision Network is essentially a blockchain-based VR content ecosystem, which also powers the NFT marketplace within virtual reality.
RedFOX Labs describes itself as ‘Southeast Asia’s first blockchain venture builder’. The project aims to create innovative and scalable blockchain solutions by building, launching, and scaling high-growth tech companies in Southeast Asia’s emerging markets.
RFOX Games, the play-to-earn gaming venture of RedFOX Labs recently unveiled the KOGs Mint Lab, a new platform that allows NFT holders to generate new multi-purpose NFTs out of the digital assets they already own.
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