Altcoins
Electroneum (ETN) will take off sooner rather than later
Electroneum’s ETN cryptocurrency had a good week the week before last week. It kept rising all week long so it was expected that it would adjust downwards at some point, which is what’s been happening in the last couple of days. It’s been losing value moderately, as all crypto coins have.
The trend is headed by Bitcoin, as usual. Let’s not forget that almost every cryptocurrency is pegged to Bitcoin in some way because most of them are paired with it in exchanges, so when Bitcoin goes down, most other tokens go down as well, one way or the other.
The token has lost 1.76% in value over the last day, in terms of value against USD. This shouldn’t scare anybody off. It’s trading at $0.0149 as we write this. The current price keeps it around the $0.01 mark and it’s expected to go back up before going further down. It’s lost about 2% against Bitcoin, but this is the natural development of things every time that Bitcoin goes down, has it has for more than 10 months now.
In the latest #interview with Richard Ells at @CoinReportNews was mentioned that #ETN #Electroneum have plan to be adopted by 20 000 000 people if we reach this we will be in #top5 #Crypto #cryptocurrency and best #altcoin for more read this & please share https://t.co/ttFT8NeAae
— Mr.CryptoCZ (@cechv2) October 21, 2018
If you take the time to have a look at the crypto social media, you’ll see that there is still a lot of good stuff happening for Electroneum behind the scenes. A recent interview with Richar Ells explains how the project is planning to achieve mass adoption so it will reach 20 million users very soon indeed. This is quite ambitious, but it will keep the project’s growth going on which is what matters most for both users and the community in general.
According to some observers, Electroneum and Graft could be among the coins that will make a lot of money for rational players who know what to do with them. Besides pure speculation, ETN users and believers are still expecting lots of good things from this project as of now.
It remains to be seen how things will turn out for Electromeum (ETN) but it’s gaining new users for sure because it’s very easy to come into the Electroneum community. All you need to do is to install an app on your mobile phone or a tablet and let it do the mining for you.
As the current market is going it will be very interesting to see what happens with ETN. Bitcoin is still trading in red numbers and as long as that stays the same, all other coins will suffer. But even in the current crypto environment, Electroneum has managed to create so much excitement that it will surely rise in price sooner rather than later. But as things are now, almost no token can avoid the bearish pressure. But everything is possible, and the cryptosphere can change in the blink of an eye.
For Electroneum the key use cases are micropayments and mobile mining and it’s gaining ground on both. It’s probably the easiest cryptocurrency to acquire because you don’t even need to buy it or enter an exchange to get it.
Cryptocurrencies are an asset class that could create lots of millionaires in the next few years and both Electroneum and Graft could end up being the cause for some of them.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
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 Pexels
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,…
-
Blogs6 years ago
Bitcoin Cash (BCH) and Ripple (XRP) Headed to Expansion with Revolut
-
Blogs6 years ago
Another Bank Joins Ripple! The first ever bank in Oman to be a part of RippleNet
-
Blogs6 years ago
Standard Chartered Plans on Extending the Use of Ripple (XRP) Network
-
Blogs6 years ago
Electroneum (ETN) New Mining App Set For Mass Adoption
-
Don't Miss6 years ago
Ripple’s five new partnerships are mouthwatering
-
Blogs6 years ago
Cryptocurrency is paving new avenues for content creators to explore
-
Blogs6 years ago
Ethereum Classic (ETC) Is Aiming To Align With Ethereum (ETH)
-
Blogs6 years ago
Litecoin (LTC) Becomes Compatible with Blocknet while Getting Listed on Gemini Exchange