Altcoins
Dash vs NEM: Which Coin Is A Better Investment?
Ever since Bitcoin (BTC) became big, numerous altcoins have appeared, each wishing a part of BTC’s glory for itself. Of course, this is not all that these coins desire and many of them have quite important goals. Some wish to make the entire internet decentralized, while others aim to offer greater privacy when it comes to making transactions. In the end, each coin has its own story, and that is one of the reasons why many new investors often get confused about which one to invest in.
As new investors, newcomers are never experienced enough to go for lesser-known altcoins. However, they also often do not have the skill and funds to handle the top of the crypto list either. Instead, they focus on the coins among the top 20, but below the top 5. Because of this, many have started to ask around about different coins, with a lot of newcomers being interested in Dash vs NEM comparisons.
This is what we will explore today, and try to see which of these two coins is a better choice for would-be cryptocurrency investors.
Dash
Dash is a coin that is pretty different from most other altcoins. Where most other crypto projects are focused on becoming development platforms, Dash has always worked hard to become a dominant form of electronic cash. It aims to become as liquid as real, traditional money. Even so, it is still created upon Bitcoin’s core code, but it brought a lot of its own features to it.
Dash, of course, has its own blockchain, wallet, community, and it is even open-source. However, it differs from BTC by several important aspects, such as low transaction fees, great transaction speed, as well as privacy. In fact, Dash is known for being a privacy coin, which is a coin that allows its users to remain anonymous, and their transactions private.
Since everyone knows how important privacy is on the internet, it should not come as a surprise if we say that Dash will likely always be needed. At the moment, the price of Dash is at $180.21 per coin, which is significantly lower than its all-time high ($1,526), but there are many who believe that the coin will eventually regain its value.
NEM (XEM)
Next, we have NEM, Dash’s mortal enemy in today’s Dash vs NEM comparison. NEM is a project that aims to provide security to crypto assets and to increase the scalability of its algorithm. So far, it had a lot of success in achieving its goals, and it can process hundreds of transactions per second.
NEM has also received a lot more attention as a coin that focuses on security, especially after the recent Tether hack. After a hack like that, users generally tend to start thinking more about the security of their assets. As a safe coin, NEM has experienced more appreciation, as well as a significant increase in value over the last 14 to 16 months.
A lot of analysts believe that a coin like NEM is the future since it provides such high levels of security. They even go as far as to say that NEM might reach the top 5 coins in the near future. It certainly seems like a good investment, with increased scalability, security, and even decent levels of stability. especially when compared to other altcoins. NEM’s current price is $0.104084, and the coin holds the rank of 17 as per CoinMarketCap.
Dash vs NEM: Who wins?
Giving an answer to who would win in a Dash vs NEM fight is not simple. It is probably not even possible. Both coins have their use cases since there is always demand for privacy and security on the internet. Where Dash can provide anonymity, NEM can provide safety. Both coins have their own features, as well as their own communities. Dash has a better price, and it is also ranked higher on the list of largest coins per-market cap.
However, this doesn’t mean that it is a better coin since Dash and NEM do not really offer the same thing. In the end, it all comes down to the investor, and what they are looking for. Both coins have proven to be able to understand their users’ needs, which is why they are among the top 20.
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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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