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Cardano ADA News: Chairman Pressured via Twitter

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Cardano ADA news

It’s only natural for the crypto investors to want to see their chosen coin’s growth, expansion, and progress, in general. The same goes for Cardano (ADA) community, which is among the strongest and most vocal ones. The community is keeping a close eye on the coin’s progress, eagerly expecting any and all Cardano (ADA) news that would bring something new.

According to the coin’s roadmap, it still continues steadily on its course. The developers are working on creating a secure, decentralized network, developing a Quantum-resistant signature tech, and, of course, are working on the Daedalus wallet.

Despite all of this, the community is still getting impatient in their desire to see the progress of their favorite coin. Because of it, they recently put a lot of pressure on the Cardano’s chairman.

Cardano Chairmen under fire

Only yesterday, Cardano ADA news about the Foundation’s chairman, Michael Parsons, being under fire on Twitter spread all over the internet. The coin’s fans were not shy of criticizing Parsons, claiming that his commitment to the project is low. According to them, this is the reason why the coin’s development has been so slow recently, and why Cardano’s ecosystem has failed to grow as much as it could.

Some even asked for Parson’s resignation, believing that others would be able to do more for the coin’s growth.

Additionally, the upcoming London meetup was recently canceled without sufficient explanation. It would seem that many in the Cardano community were looking forward to it, and were even planning on attending it. Because of this, Parsons also received numerous questions regarding the event’s cancelation.

Clearly, the community is not satisfied with where Cardano is going at the moment, or at least, with the speed at which it’s traveling towards that destination. However, some also started to wonder whether Parsons’ role in the progress of the blockchain is actually as significant as many believe.

How much can Parsons actually influence the project?

Despite what many in the crypto community believe, the chairman’s role in the project’s growth is actually pretty important. Especially when considering the mission of the Cardano Foundation. Parsons is not only an important influence on the project’s overall growth, but his role is especially important in the short-term development.

Cardano’s goal at the moment is to expand its community, as well as its ecosystem. Because of this, many believe that it is Parsons’ responsibility to represent the project and increase its exposure. That way, more investors would join the Cardano community, and the coin would become that much stronger.

We can see just how much a good representative of the coin can make a difference when we take a look at TRON’s (TRX) Justin Sun. Sun is famous for being the most vocal crypto representative on Twitter, and because of that, it is among the best-known individuals in the entire crypto world. Following his efforts, TRON has managed to create just as vocal community, which is probably the strongest and most supportive community in the space.

Considering Parsons’ modest approach to spreading awareness about Cardano, it is understandable why the community is not satisfied with his efforts. Still, Cardano has always been known for taking its time and paying more attention to detail and quality. Because of that, and its very capable team, the coin continues to meet all of its milestones, and thus continue to grow at its own pace. Even so, the argument could be made that a more efficient method of spreading the awareness would be good for Cardano.

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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

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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…

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Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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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

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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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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