Altcoins
4 Coins That Can Dominate Over BTC and ETH
Cryptocurrency space has advanced a lot in recent years, and coins such as Bitcoin, Ethereum, XRP, and Litecoin still remain the biggest hits. However, a large part of the crypto community believes that this will not always be the case.
Many believe that these coins are slowly becoming relics of the past, and while their contribution can never be denied (they did bring on the crypto trend, after all), their technology will eventually make them extremely limited. If this does happen, other, more modern coins will have to take their place and become the next Bitcoin or Ethereum.
While this is all speculation at this point, many believe that it will come to pass within a few years. While this can easily mean that the coins that will dominate the future still don’t even exist, they can just as easily already be a part of the space. Since we can’t predict what new coins will arrive in the next several years, all we can do is check out which existing altcoins might become leading cryptos.
1. TRON (TRX)
For a lot of people, TRON (TRX) is undoubtedly a coin of the future. Not only does it plan to revolutionize the entertainment industry, and really, the web itself — it is also extremely modern, and it seemingly doesn’t know how to make a bad deal. Its creator, Justin Sun, has managed to make one of the strongest, largest, and most supportive communities in the entire space, all through the combination of his personality and a simple Twitter account.
TRON has achieved a lot in 2018, and it announced even more for the future. While its price has yet to reflect these achievements and promises, many expect that it will respond at some point, likely by a huge surge.
2. IOTA (MIOTA)
IOTA is a coin that seems to have developed a special relationship with the IoT and a car-making industry. It is viewed less as a coin, and more as a blockchain project, which can use its far reach and connections to create a huge network of various devices. However, the coin is one of the main aspects of the project itself, and so it will likely grow to be just as big as the rest of the project.
Right now, IOTA is not performing so well, with its price being only a fraction of its potential. However, the same can be said for a lot of other coins, and the project should not be judged for it. It certainly has a lot of potentials, and will likely be in tight connection to the future technological development.
3. NEO
NEO is the most Ethereum-like coin on this list, and as such, it has a fair chance to actually replace ETH someday. It was branded one of the two potential Ethereum killers (the other one being EOS), and many believe that this is the coin that will prevail.
NEO allows developers to create dApps and smart contracts on its network, similarly to Ethereum. However, its supporters will argue that it does everything much better and faster. In fact, NEO is well-known for its developer community, and thanks to superior technology, it is not a stretch to assume that it will be one of the main coins of the future.
4. Monero (XMR)
As far as coins used for payments go, Monero is probably among the best choices, and one of the largest altcoins of the future. As many are aware of, XMR is a privacy coin, meaning that it is capable of allowing its users anonymity while making transactions. It offers stealth addresses and confidential transactions, and it is decentralized as well as fungible,
While numerous privacy coins are still struggling to establish dominance, many believe that Monero will come out on top, and become one of the biggest altcoins in the future.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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