Ocean Protocol, Helium and Chainlink post monthly gains while Bitcoin price consolidates

189
SHARES
1.5k
VIEWS

Positive price movements during bear markets are notable primarily because they can help identify projects that have a good chance of surviving the next bull cycle.

Generally speaking, June’s price movement has been steady for the majority of the cryptocurrency market as traders remain concerned about the $30,000 support level for bitcoin (BTC), but there have been some strong performers.

READ ALSO

LINK/USDT vs HNT/USDT vs OCEAN/USDT 4-hour chart. Source: TradingView

Data from Cointelegraph Markets Pro and TradingView shows that three of the biggest gainers for the month of June have been Chainlink (LINK), Ocean Protocol (OCAN) and Helium (HNT).

Chainlink introduces staking

The Chainlink protocol is the most widely adopted oracle network in the cryptocurrency ecosystem that allows the blockchain to securely interact with external data feeds for the proper functioning of smart contracts.

Earlier this week, the project revealed a roadmap for the first time and indicated that link staking would begin soon. Cointelegraph Markets Pro’s NewsQuakes™ alert system recently managed to capture the staking announcement for LINK on June 7 ahead of the price hike.

VORTECS™ score (green) vs. link value. Source: Cointelegraph Bazaar Pro

As seen in the chart above, following the NewsQuakes™ alert for LINK, which was recorded at noon on June 7, LINK increased in price by 29.55% over the next two days.

Ocean Protocol introduces data NFT

Ocean Protocol’s native OCEAN token was also a strong performer this week and data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.1965 on June 3rd, OCEAN’s price is up 64.53% to $0.3233 on June 9th. reached a daily high. ,

OCEAN/USDT 4-Hour chart. Source: TradingView

OCEAN’s ascent comes after the release of the Ocean ONDA v4 Data Marketplace, which ushered in the release of data NFTs, which can be used to model copyright or exclusive licenses for data assets.

With the introduction of Data NFTS, the protocol has also introduced Ocean Data Framing which enables token holders to stake their Ocean Tokens and earn up to 125% APY.

related: Chainlink Brings Keepers and VRFs to Avalanche Blockchain

Helium holders vote to support new network

The Helium Protocol is a 5G Internet-of-Things-focused project that supports low-power wireless devices to communicate with each other and send data across their network of nodes.

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $6.35 on May 29, the price of HNT is up 79.14% to reach a daily high of $12.28 on June 9, as it reached a daily high of $12.28 on June 9. Hourly trading volume is up 249% to $126.7 million. ,

HNT/USDT 4-hour chart. Source: TradingView

HNT’s breakout occurred when the Helium community voted on HIP-51, a proposal that outlined the economics needed to scale the Helium network to support new users, devices, and a variety of networks, including cellular, VPN, WiFi, and LPWAN. and technical construction.

Voters eventually approved the proposal on 8 June, with 96.94% of voters approving the transition to making helium a “network of networks”.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, so you should do your own research when making a decision.