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

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

Gen­er­al­ly, price action in June has been stag­nant for a major­i­ty of the cryp­to mar­ket because traders are ner­vous about Bit­coin’s (BTC) oscil­la­tion around the $30,000 sup­port lev­el, but there have been a few strong performers. 

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

Chainlink introduces staking

The Chain­link pro­to­col is the most wide­ly adopt­ed ora­cle net­work in the cryp­tocur­ren­cy ecosys­tem which allows blockchains 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 launch soon. The NewsQuakes™ alert sys­tem from Coin­tele­graph Mar­kets Pro man­aged to cap­ture the stak­ing announce­ment for LINK on June 7, pri­or to the recent price rise.

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

Ocean Protocol introduces data NFTs

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

The climb­ing price of OCEAN comes after the release of the Ocean ONDA v4 data mar­ket­place which debuted the release of data NFTs that can be used to mod­el the copy­right or exclu­sive license for a data asset. 

Along 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 VRF to the Avalanche blockchain

Helium holders vote to support new networks

Heli­um pro­to­col is a 5G Inter­net-of-Things-focused project sup­port­ing low-pow­ered wire­less devices to com­mu­ni­cate with each oth­er and send data across its 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 has surged 79.14% to hit a dai­ly high of $12.28 on June 9 as its 24-hour trad­ing vol­ume spiked 249% to $126.7 million. 

HNT’s break­out occurred as the Heli­um com­mu­ni­ty vot­ed on HIP-51, a pro­pos­al that cov­ered the eco­nom­ic and tech­ni­cal con­struc­tions need­ed to scale the Heli­um Net­work to sup­port new users, devices and dif­fer­ent types of net­works includ­ing cel­lu­lar, VPN, WiFi and LPWAN. 

Vot­ers ulti­mate­ly approved the pro­pos­al on June 8, 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, you should con­duct your own research when mak­ing a decision.