Everipedia VORTECS™ Score hits record high ahead of upcoming NFT drop to IQ stakers

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The VORTECS™ Score for IQ surged to a record high shortly before Everipedia announced that token stakers would receive special NFTs.

In the world of technical analysis, any tool that gives the trader insight into the next possible market move is valued highly because an early signal of impending price action can turn an average trade into a multi-bagger.

In a rare occurrence, Cointelegraph Markets Pro just posted a VORTECS™ score of 98, one of the highest scores ever recorded, for an altcoin called Everipedia (IQ). The project is a blockchain-based encyclopedia that has the vision of creating “a world where all knowledge is available to all people.”

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

While the VORTECS™ Score is simply an indicator and does not guarantee any specific outcome in regards to the scores that it provides, previous instances of scores above 95 have often been followed by significant price increases in the associated asset. The indicator works by comparing historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

A scroll through the Everipedia Twitter page indicates that the rising VORTECS™ Score may be associated with the recent launch of nonfungible token (NFT) raffles for IQ stakers through a partnership with Polygon and Chainlink.

According to the announcement, interested parties who wish to have a chance at winning one of the limited series NFTs need to stake IQ tokens with HiIQ before Nov. 1 at 18:00 UTC.

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.

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