Coin Hauler

3 reasons why Keep3rV1 (KP3R) price hit a new all-time high this month

Keep3rV1 (KP3R) was one of many few altcoins that emerged unscathed from this week’s bearish flip within the crypto market.

Whereas many digital belongings plunged into the crimson following the lead of Bitcoin (BTC), which recoiled after recording a brand new all-time excessive final week, KP3R added 31.60% in opposition to the greenback and 44.17% in opposition to BTC between Nov. 12 and Nov. 19.

Let’s examine what drove the sumptuous efficiency and what components made the altcoin stand out within the face of the from the grim dynamics of the broader market?

Founder’s magic

A lot of the momentum underpinning KP3R’s explosive worth motion all through the asset’s historical past could be attributed to Andre Kronje, the founding father of Keep3r Community. Kronje is an eminent determine within the decentralized finance (DeFi) house and in addition the founding father of yield farming aggregator (YFI), one of many high DeFi protocols within the crypto sector.

First introduced in Oct. 2020, Keep3r Community is a job registry designed to match organizations and different job suppliers with technical professionals, or Keepers, who can carry out routine duties similar to accumulating yield farming harvests.

The Keep3r ecosystem finally expanded to incorporate Keep3r Eden, a system of guidelines that permits clear ordering of transactions, a Fastened Foreign exchange market aimed toward offering an alternative choice to USD-denominated stablecoins and an choices liquidity mining platform.

Traditionally, there’s all the time been a whole lot of investor pleasure round KP3R as a result of the token has seen many spikes of speedy appreciation since its preliminary itemizing on Uniswap. The assumption that Kronje’s contact may flip any challenge into an ultra-successful enterprise may very well be fueling the constructive sentiment across the asset.

November’s bull run

This fall, having spent a lot of September and October buying and selling at round $300 per token, KP3R noticed its worth shoot up sharply on Nov. 8, across the time when the whole worth locked in Keep3r Community’s Fastened Foreign exchange exceeded $1 billion.

Because the token’s worth started to soar, the patterns of buying and selling quantity and social sentiment round KP3R organized in a approach that regarded more and more just like the token’s earlier moments of explosive worth motion. This was attested by the asset’s very sturdy VORTECS™ Rating – an algorithmic indicator evaluating token’s historic dynamics of buying and selling and social exercise to these presently noticed. Completely out there to the subscribers of Cointelegraph Markets Professional, the VORTECS™ Rating assesses whether or not the present circumstances are bearish, impartial or bullish given the historic document of the coin’s worth motion.

On Nov. 11 and 12, KP3R was buying and selling at simply above $1,000, having virtually tripled its worth over the earlier week. The coin’s VORTECS™ Rating was within the excessive eighties, indicating the algorithm’s vital confidence that the KP3R’s outlook for the subsequent 12-72 hours remained bullish and additional upside may very well be anticipated.

VORTECS™ Rating (inexperienced) vs. KP3R worth, Nov. 11 – 18. Supply: Cointelegraph Markets Professional

Crypto trade listings have a tendency to spice up token costs

On Nov. 12, an announcement of a brand new Binance buying and selling pair, KP3R/USDT, dropped on Twitter. Markets Professional subscribers acquired a near-instant alert of the event because of the platform’s NewsQuakes™ performance (crimson circle within the chart).

KP3R’s worth didn’t spike instantly, however after a number of hours the asset pulled off an immense rally, capturing up from $976 to the excessive of $1,923 in simply 17 hours – almost a 100% improve.

Granted, a Binance itemizing is large information for any digital asset, however within the case of KP3R, the announcement had landed on an especially fertile floor. The association of buying and selling exercise and social sentiment metrics had been already tremendously favorable, and a spark offered by Binance’s tweet had triggered an especially highly effective worth spike. Cointelegraph Markets Professional subscribers had been alerted to each bullish circumstances shaping up round KP3R and the information itself.

Cointelegraph is a writer of monetary info, not an funding adviser. We don’t present personalised or individualized funding recommendation. Cryptocurrencies are risky investments and carry vital threat together with the danger of everlasting and whole loss. Previous efficiency shouldn’t be indicative of future outcomes. Figures and charts are appropriate on the time of writing or as in any other case specified. Dwell-tested methods usually are not suggestions. Seek the advice of your monetary advisor earlier than making monetary choices.

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