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

Keep3rV1 (KP3R) was one of the few altcoins that emerged unscathed from this weeks bearish turn in the crypto market.

While many digital assets plunged into the red following the lead of Bitcoin (BTC), which recoiled after recording a new all-time high last week, KP3R added 31.60% against the dollar and 44.17% against BTC between Nov. 12 and Nov. 19.

Let’s investigate what drove the splendid performance and what factors made the altcoin stand out in the face of the from the bleak dynamics of the wider market?

Founders magic

Much of the momentum underpinning KP3Rs explosive price movement throughout the assets history can be attributed to Andre Kronje, the founder of Keep3r Network. Kronje is an eminent figure in the decentralized finance (DeFi) space and also the founder of yield farming aggregator yEarn.finance (YFI), one of the top DeFi protocols in the crypto sector.

First announced in Oct. 2020, Keep3r Network is a job registry designed to match organizations and other job providers with technical professionals, or Keepers, who can perform routine tasks such as collecting yield farming harvests.

The Keep3r ecosystem eventually expanded to include Keep3r Eden, a system of rules that enables transparent ordering of transactions, a Fixed Forex market aimed at providing an alternative to USD-denominated stablecoins and an options liquidity mining platform.

Historically, theres always been a lot of investor excitement around KP3R because the token has seen many spikes of rapid appreciation since its initial listing on Uniswap. The belief that Kronjes touch could turn any project into an ultra-successful enterprise could be fueling the positive sentiment around the asset.

Novembers bull run

This fall, having spent much of September and October trading at around $300 per token, KP3R saw its price shoot up sharply on Nov. 8, around the time when the total value locked in Keep3r Networks Fixed Forex exceeded $1 billion.

As the tokens price began to soar, the patterns of trading volume and social sentiment around KP3R arranged in a way that looked increasingly similar to the tokens previous moments of explosive price action. This was attested by the assets very strong VORTECS Score an algorithmic indicator comparing tokens historic dynamics of trading and social activity to those currently observed. Exclusively available to the subscribers of Cointelegraph Markets Pro, the VORTECS Score assesses whether the current conditions are bearish, neutral or bullish given the historical record of the coins price action.

On Nov. 11 and 12, KP3R was trading at just above $1,000, having almost tripled its price over the previous week. The coins VORTECS Score was in the high eighties, indicating the algorithms significant confidence that the KP3Rs outlook for the next 12-72 hours remained bullish and further upside could be expected.

VORTECS Score (green) vs. KP3R price, Nov. 11 18. Source: Cointelegraph Markets Pro

Crypto exchange listings tend to boost token prices

On Nov. 12, an announcement of a new Binance trading pair, KP3R/USDT, dropped on Twitter. Markets Pro subscribers received a near-instant alert of the development thanks to the platforms NewsQuakes functionality (red circle in the chart).

KP3Rs price did not spike immediately, but after several hours the asset pulled off an immense rally, shooting up from $976 to the high of $1,923 in just 17 hours nearly a 100% increase.

Granted, a Binance listing is big news for any digital asset, but in the case of KP3R, the announcement had landed on an extremely fertile ground. The arrangement of trading activity and social sentiment metrics were already tremendously favorable, and a spark provided by Binances tweet had triggered an extremely powerful price spike. Cointelegraph Markets Pro subscribers were alerted to both bullish conditions shaping up around KP3R and the news itself.

Cointelegraph is a publisher of financial information, not an investment adviser. We do not provide personalized or individualized investment advice. Cryptocurrencies are volatile investments and carry significant risk including the risk of permanent and total loss. Past performance is not indicative of future results. Figures and charts are correct at the time of writing or as otherwise specified. Live-tested strategies are not recommendations. Consult your financial advisor before making financial decisions.