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

Positive price action during bear markets is particularly noteworthy because it can help identify projects that have a good chance of surviving into the next bull cycle.

In general, June price action was flat for much of the crypto market as traders are nervous about Bitcoin’s (BTC) oscillation around the $30,000 support level, but there were some strong performers.

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

Data from Cointelegraph Markets Pro and TradingView shows that the top three gainers in June were Chainlink (LINK), Ocean Protocol (OCEAN), and Helium (HNT).

Chainlink introduces staking

The Chainlink protocol is the most widely used oracle network in the cryptocurrency ecosystem, allowing blockchains to securely interact with external data feeds to ensure proper functioning of smart contracts.

Earlier this week, the project revealed a roadmap for the first time and hinted that LINK staking would launch soon. Cointelegraph Markets Pro’s NewsQuakes™ alert system managed to catch the LINK staking announcement on June 7 ahead of the recent price surge.

VORTECS™ Score (green) vs. LINK price. Source: Cointelegraph Markets Pro

As can be seen in the chart above, after the NewsQuakes™ alert for LINK registered at noon on June 7th, the price of LINK increased by 29.55% in the next two days.

Ocean Protocol introduces data NFTs

Ocean Protocol’s native OCEAN token was also a strong performer this week, and data from Cointelegraph Markets Pro and TradingView shows OCEAN’s price up 64.53% since its bottom of $0.1965 on June 3 and hit a daily high of $ 0.3233 on June 9 .

OCEAN/USDT 4 hour chart. Source: TradingView

OCEAN’s rising price comes after the release of data marketplace Ocean ONDA v4, 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 launch of Data NFTS, the protocol has also introduced Ocean Data Framing, which allows token holders to stake their OCEAN tokens and earn up to 125% APY.

Related: Chainlink brings Keepers and VRF to the Avalanche blockchain

Helium owners vote to support new networks

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 through its network of nodes.

Data from Cointelegraph Markets Pro and TradingView shows that HNT’s price is up 79.14% from its low of $6.35 on May 29 and hit an intraday high of $12.28 on June 9, when its 24th month -Hourly trading volume up 249% to $126.7 million.

HNT/USDT 4 hour chart. Source: TradingView

HNT’s breakthrough came when the Helium community voted on HIP-51, a proposal that covered the economic and technical designs needed to scale the Helium network to accommodate new users, devices, and different types of networks, including Cellular, VPN, WiFi and LPWAN support.

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

The views and opinions expressed herein 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 do your own research when making a decision.

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