Altcoins
Electroneum (ETN) and Ravencoin (RVN): Two giants in the making
The current generation is full of inventions. Few get in to stay and some fade with time as we’ve witnessed it in many cases. When Bitcoin was first introduced, many had doubts and could be heard predicting a collapse of the digital currency.
Cryptocurrency is transforming the way the money works, and it’s bound never to collapse (at least not anytime soon), but instead, the question is what the digital money will offer in the long term. The crypto industry is moving fast, and most individuals now think that blockchain technology is the way forward.
However, we’re no longer talking about Bitcoin alone but several other coins that could show even better potential going forward. Considering that, Ravencoin (RVN) and Electroneum (ETN) seem to be the two sleeping crypto giants waiting for the night to end and take top positions at sunrise.
Electroneum (ETN)
It’s a consensus in the crypto market that mass adoption will be the reason behind the next wave of growth for the cryptocurrencies. Those with the potential for an exponential adoption will undoubtedly have the most significant gains. Electroneum (ETN) is one of those with the highest potential.
Launched merely a year ago, the mobile cryptocurrency platform Electroneum is ambitious to replace PayPal. The coin has a fantastic use case which could see it getting adopted by more than 350 million smartphone users around the globe – a market that could be worth more than $3 trillion.
The fact that anyone can mine ETN with possession of only a smartphone makes it a potential threat to major cryptos. Besides that, it is straightforward to use. Also to make sure that Electroneum realizes its dream, the firm is in talks with several mobile operators who can be of help in integrating the payment platform into their networks.
Furthermore, the KYC feature gives it legitimacy in the eyes of many governments by making it compliant with most nations’ financial regulations. Without bottlenecks from governments, the value of Electroneum would only rise in a matter of time.
Besides, payments are promised to be instant. What more can one expect from a payment network? It’s said that the API sends a message to alert the receiver that the funds are on the way. Turkey’s Sistemkoin is about to add the coin into its platform meaning it’s in demand. The altcoin is also about to release its plugin for online vendors to support platforms such as Magento and Woocommerce.
Ravencoin (RVN)
From securing a Binance listing, launching its MainNet to activating the MainNet asset layer, Ravencoin is building the best foundation of becoming the next elephant in the crypto market. It’s worth noting that the activation of its MainNet asset layer means that all the features that will help to create the tokens will become live.
Looking at last month, October, there is a reason for pointing that it’s probably a matter of time before the value of Ravencoin ranks among the top 15 or who knows top five. During the month, it was the top gainer among the top 100 coins whereby it saw an increase of 170%. It shows that much is going on in the house of Ravencoin that investors should be excited about.
With Ravencoin, the brokerage account transfers only take few minutes instead of weeks, and the stock trades settle within minutes, unlike several days. Unlike Bitcoin that try to solve fiat currency problems, Ravencoin is doing it with securities. Therefore, Ravencoin is revolutionizing a different space.
During October, Ravencoin went past the $100 million mark concerning market capitalization, and at the moment it’s aiming that height again. Currently, it has a market cap of $104,102,115 which places the new-bird at the 63rd position on the CoinMarketCap charts. Not bad, not at all.
The developments centering both Electroneum (ETN) and Ravencoin (RVN) are exciting as they are causing a rise in value directly. These are the kind of crypto coins that any investor would want to look in; coins that go against all the odds to ensure that they emerge successfully. When both started, they remained undervalued but now things are changing, and who knows what the future holds. They are just sleeping giants about to be awakened.
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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.
Image courtesy of Skeeze/Pixabay
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,…
Cardano price has been on a bullish trajectory in recent weeks, jumping to its highest level since July and breaking above the crucial level of $0.3000. At the time of writing, ADA’s price was changing hands at $0.3200. Notably, the altcoin has printed a 9.82% increase over the past week and climbed by more than 20% in the month to date. The asset’s total market cap has increased by nearly 2% to $11 billion in the past day, ranking it 8th after Solana.
ADA’s Rally
Cardano price has recorded significant gains over the past few weeks on the back of remarkable on-chain data and broader market bullish cues. Cardano, Ethereum’s competitor, has also been part of the current cryptocurrency market rally, wiping some of the losses made over the past few months.
The cryptocurrency market has been in the green over the past few weeks amid the spot bitcoin EFT buzz and Bitcoin’s brief interaction with the key resistance level of $35,000. During this period, the global crypto market cap has surged to $1.29 trillion. The Crypto Fear and Greed Index, which measures the key emotions driving the market, has increased to a greed level of 72, indicating an increase in risk appetite by investors.
Cardano’s rally has also been credited to an increase in user activity on its platform. Santiment, a blockchain intelligence firm, highlighted in an X post on Thursday that address…
Solana price has been among the best-performing cryptocurrencies in the top 100 cryptocurrencies by market capitalization in recent days. The digital asset has jumped by more than 20% in the past week and nearly 73% in the month to date, wiping losses made this year.
Solana’s total market cap has gained 7.15% in the past 24 hours to $15 billion, with the total volume of SOL traded over the same period increasing by more than 145%. At the time of writing, SOL price was trading 6.30% higher at $34.95, its highest level since October 2022.
SOL’s Performance
Solana price has been in the limelight over the past week in the wake of its latest price pump and bullish sentiment by markets. Solana, the cryptocurrency that powers the high-performance smart-contract-enabled layer-1 Solana blockchain, currently ranks as the 7th largest cryptocurrency by market cap, surpassing its rivals such as Cardano and Dogecoin.
The altcoin has recorded a significant comeback this year after the collapse of the ill-fated crypto exchange FTX saw Solana pull back more than 95% from its all-time high of around $260. The cryptocurrency has recovered more than 300% from last year’s lows of about $8. Notably, its ecosystem has posted an impressive rebound in liquidity this year.
Data by DeFiLlama shows that the total value locked (TVL) in Solana-based smart contracts remains in an upward trajectory and at $1.2 billion, has more than…
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