Altcoins
Can ZEC Gemini Listing Bring ZCash to $1000?
ZEC Gemini listing may yet change things
It is every crypto’s goal to make as many big partnerships and to reach as many big exchanges as possible. Doing so means an increase in exposure, more trust for the coin, as well as much more activity. If the coin even ends up getting a few trading pairs, that’s even better. This is why ZEC Gemini listing is so important to ZCash.
In fact, many believe that the listing might help ZCash hit a $1,000 mark, which would ultimately put it among the most valuable coins on the market.
Of course, hoping for an increase that would allow any coin to reach new heights is seen as an extremely optimistic way of looking at things, even when the market is not constantly out to get every single coin. This year has left numerous cryptos in ruin, hoping that they will be able to survive until a better period arrives.
When it comes to ZCash, the coin is actually not doing so bad. In fact, it has been among the cryptos with the most stability. Its price fluctuations were minimal ever since the drop back in January. Now, the investors and holders hope to change this, and they see the ZEC Gemini listing as a way to do it.
ZCash depends on network upgrades as well
ZEC is a popular coin by itself, and the reason for this is the secure transfers that it is providing its users with. The transactions can guarantee anonymity, which has made the coin popular and wanted by many other exchanges apart from Gemini. The coin was originally listed on Gemini back in May, however, many would agree that the conditions for the coin’s rise were basically non-existent back then.
Now, the market seems to be making multiple attempts at recovery, and even though it suffered a few recent hits, it always returns to trading in the green. This might be the perfect opportunity for ZEC Gemini listing to finally pay off. While nobody expects the coin to just jump to $1,000 in a day and not drop back down over time, this is still more than a good opportunity for the coin to leave some of its rivals in the dust.
Many also agree that the hype will be over after the original price surge and that the coin’s future will depend on the future network upgrades. Whether the improvements will be enough to sustain ZCash’s new price or not — remains to be seen. For now, however, the coin is still waiting for its opportunity to skyrocket, with its current price being at $114.38. According to the CoinMarketCap, the ZEC is currently ranked as the 21st largest coin by market cap. If the price goes up, this is expected to change as well, so the potential investors might want to consider buying a few of the ZEC coins before it all happens.
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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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Altcoins
Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place
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…
Altcoins
Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy
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…
Altcoins
Solana Price Breaches $60 Amid a Symphony of Bullish Indicators
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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