Altcoins
3 Altcoins That Can Net You A Fortune In 2019
When they hear the term cryptocurrency, most investors think of the highest-ranking altcoins such as Ethereum, Litecoin, or Ripple. Those barely acquainted with the crypto world have still heard of names such as Bitcoin. However, the truth is that there are over 2,000 other altcoins out there. Some of them almost as old as BTC itself, while others have only been around for a few months, or even weeks.
They are still there, however, and some of them are more than just good projects. This is why they are worthy of being mentioned since some of these low cap cryptocurrencies are likely going to become major hits in 2019. A lot of them could have advanced earlier, but they were prevented from doing so due to bear market that has crippled the industry throughout 2018. However, a lot of experts believe that low cap cryptocurrencies will truly shine during 2019. If that is the case, here are a few coins that you might want to pay attention to.
3 Altcoins to pay attention to in 2019
1) Ravencoin (RVN)
Ravencoin (RVN) is a cryptocurrency inspired by a popular show, Game of Thrones. In the show, ravens are known for bringing news from far away places and spreading the truth around Westeros. This is what RVN aims to do as well, only in regards to digital asset ownership.
Ravencoin is based on UTXO (19) model of BTC. It is decentralized, and it aims to provide better and cheaper solutions, but also to eliminate various vulnerabilities that are usually associated with Bitcoin. There are several ways in which this coin is different than BTC. Its block reward time is reduced to 1 minute, it allows users to vote on various issues, it is resistant to ASIC mining, and more. Its main goal is to bring transparency, security, resistance to censorship, and to provide users with full control.
The coin is ranked as 69th, with a market cap of $88.5 million, and a price of $0.041376 per coin at the time of writing.
2) DeepBrain Chain (DBC)
DeepBrain Chain is another project with a lot of potential, and it is currently creating a type of decentralized bazaar for AI properties. Additionally, it represents one of the first ICOs to come from NEO’s platform. DBC aims to provide flexible and low-cost computing platforms for private use. To achieve this, it plans to reduce the GPU renting cost for as much as 70%. The same goes for related AI products.
The coin is currently holding a token sale, which will end in a little over 32 days. More about it can be seen here.
Another thing to mention is that DBC currently holds the rank of 343, with a price of $0.007388 and a market cap of $11 million. Interestingly enough, the coin is not trading in the red at the moment, like so many other low cap cryptocurrencies. Instead, it is experiencing a 5.29% increase, which means that there is definitely an interest in this cryptocurrency.
3) Trinity Network Credit (TNC)
TNC is the lowest ranking coin on this list, with a market cap of only $3.39 million, and it holds the rank of 611. While the coin is largely unknown, it is still a coin with a lot of potential. The coin was imagined to be a utility token created to be NEO’s off-chain scaling solution, such as Bitcoin Lightning Network.
During its token sale, Trinity managed to raise up to $20 million, which allowed it to survive the bear market up to this point. The coin has a good team behind it, and the project’s leader is former NEO developer, Yiling Li. The coin also started working on a new project recently, and in partnership with Ethereum itself. The project is called Decentraland, and a lot of investors have already heard of it earlier.
As for Trinity Network Credit itself, its connection to NEO means that they will likely share the same fate. So, if NEO, as a larger and stronger coin, manages to grow — TNC will definitely follow, and its investors will not regret supporting this coin.
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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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