Cryptocurrency prices and investor sentiment reversed course on Dec. 15 after Federal Reserve chairman Jerome Powell confirmed the bank’s plan to hike interest rates in 2022 and slow down the bond purchasing program that had been in play since the emergence of the coronavirus in March 2020.
Following the announcement, Bitcoin (BTC) price tacked on a 1.65% gain, bringing the price above $49,000 and Ether trekked back above the $4,000 mark. Altcoins followed suit with their usual double-digit gains and for the moment, it appears as if bulls have taken back control of the market.
Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets Pro
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24-hours were ECOMI (OMI), Aragon (ANT) and RAMP.
ECOMI migrates to Immutable
ECOMI is a technology company focused on building a blockchain-based digital collectibles marketplace where users can buy and share nonfungible tokens (NFTs) across the social network service using the project’s native OMI token as a medium of exchange.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for OMI on Dec. 1, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ Score (green) vs. OMI price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for OMI climbed into the green zone and reached a high of 81 on Dec. 1, around 96 hours before the price began to increase 39% over the next ten days.
The building momentum for OMI comes as the ECOMI ecosystem migrates to Immutable, an Ethereum (ETH) scaling solution specifically designed for NFT projects.
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