Privacy-Based Altcoins Surges After Bitcoin ETF News Sparks a Market-Wide Rally

Sahaj  |  Oct 16, 2021

The altcoins projects based on privacy have recently grabbed the attention of the market today as the bullish sentiment building over a possible Bitcoin ETF approval has spread across the market. On October 15, it was witnessed that the markets are showing extreme optimism after the rumors, and an array of documents suggest that the path toward the approval of a Bitcoin ETF has fewer obstacles lying ahead.

Altcoins Surged After the News of Bitcoin ETF

The price of Bitcoin (BTC) rallied to approximately the $63,000 mark for the first time since the month of April following the positive news and multiple altcoins registered triple-digit gains.

As per the data revealed by the leading market data aggregators, NuCypher (NU), Keep Network (KEEP), and Orchid (OXT) have turned out to be the biggest gainers in the market marking significant gains.

Talking about NuCypher is a protocol dedicated solely to the creation of decentralized encryption, access control, and key management system services for public blockchains by offering end-to-end encrypted data sharing and decentralized storage solutions. 

Also, it should be noted that following the low of $0.283, the price of new catapulted 535% to an intraday high at $1.80 as its 24-hour trading volume skyrocketed by 19,440% to $2.152 billion. 

KEEP Network and Orchid Price Increased

The price of KEEP has soared significantly to cross the levels of returns above 585% over the next day. Well, the rise in the price of KEEP is considered because of its amalgamation with NU in order to release tBTC v2 on the KEEP Network.

Orchid defines itself as the first incentivized, P2P privacy network of the world, a cryptocurrency-powered VPN. OXD climbed on October 12 to the green zone and its price surged over 82% the next day of marking a high of 75 on the VORTECS chart.

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