It’s a bullish start to November and today multiple tokens have rallied to fresh all-time highs as Ethereum (ETH) broke above the $4,500 level.
Ethereum (ETH) climbed to a new record high at $4,569 on Nov. 2nd. The move comes just days after the successful Altair upgrade to the Ethereum network, which was the first update to the Beacon chain, bringing the network closer to the full rollout of Eth2. Notably, the ETH/USD pair is bursting up for the fifth week in a row, having added more than 65% since September 21.
Likewise, Several Altcoin tokens such as Crypto.com Coin (CRO, +19.24%), Enjin Coin (ENJ, +17.59%), WazirX (WRX, +26.32%), XYO (XYO, +23.21%), Orchid (OXT, +29.43%) have notched double-digit gains in the last 24 hours.
Amid the newfound bullish momentum, tokens such as Chromia (CHR, +55.62%), Arweave (AR, +25.82%), OriginTrail (TRAC, +143%), TABOO token (TABOO, +54.50%), ARPA Chain (ARPA, +36.02%), the Sandbox (SAND, +48.28%), Bora (BORA, +38.43%) saw a breakout to fresh all-time highs as traders scramble to identify which coin might be the next to ”moon”.
What Led to the Surge?
The Sandbox (SAND)
SAND rose to fresh all-time highs of $3.31 today as The metaverse continues to be the next attraction point of crypto for investors. The nonfungible token (NFT) metaverse platform has also raised fresh capital in a funding round to speed up the growth of its open metaverse with games, live performances, and social experiences.
Marking SoftBank Vision Fund 2’s first investment into the crypto assets, The Sandbox’s Series B round saw $93 million raised with the participation of Animoca Brands, True Global Ventures, Galaxy Interactive, SCB 10X, Polygon Studios, and Samsung Next, among others.
Chromia, the relational blockchain for DeFi rallied nearly 100% to fresh all-time highs of $0.84 today, continuing the bullish move it started on Nov. 1 when the news of its partnership with Revolve Games surfaced.
ChromaWay, the creator of Chromia and other dapps will bring innovative solutions for the play-to-earn economy of Revolve. An exciting development of the partnership would be the Revolve Metaverse utilizing Chromia’s technology extensively in the construction and delivery of Chromia’s future products.
OriginTrail claims to be the world’s first Decentralized Knowledge Graph, organizing humanity’s most important assets and making them discoverable, verifiable, and valuable. TRAC surged nearly 150% to all-time highs of $2.77 following a Coinbase pro listing announcement.
”Trading on our KRL-USD, KRL-USDT, KRL-EUR, LCX-USD, LCX-USDT, LCX-EUR, TRAC-USD, TRAC-USDT, and TRAC-EUR order books is about to begin”.
Taboo Token (TABOO)
Taboo Token is an adult entertainment-themed nonfungible token (NFT) and streaming media project that focuses on exclusive content provided by the models who work with the platform.
The increased action for TABOO came after OnlyFans announced that it would ban adult entertainment performances on the platform, and Taboo presented itself as a working alternative. Taboo rose to fresh all-time highs of $0.037 on Nov. 2, up 247% in the past 7 days.
ARPA Chain (ARPA)
ARPA Chain, which enables privacy-focused smart contracts and off-chain transactions, rallied nearly 71% to mark all-time highs at $0.24 on Nov. 2. The recent rise borders around the ongoing metaverse discussion across the crypto space.
The network states on its official Twitter handle ”Metaverse needs ARPA for privacy and randomness, to ensure transparency, fairness of each world”.
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