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Why HODLing XRP, BAT, and EOS is a Smart Idea

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The crypto market continues to grow, even though the prices of its many coins were severely damaged during the so-called ‘crypto winter’ of 2018. Even so, the market has grown a lot, and it currently features over 2,100 digital currencies, all parts of their own projects, with a goal of making an impact and entering the mainstream.

Of course, it goes without saying that not a lot of these coins have real potential. Many of them came to be during the ICO craze of 2017 and early 2018 when investors were willing to buy just about any coin. As a result, new startups emerged, each offering its own cryptocurrency. Most of these coins are believed to be bad projects with no future, with only a matter of time before they are declared ‘dead.’

However, there are several coins out there which are worthy of investing in, as well as HODLing on to them. Three such coins that we will focus on today are XRP, Basic Attention Token (BAT), and EOS.

XRP

Let’s start with XRP. This is a coin created by a company called Ripple Labs. As a result, the coin has a strong connection to the company, which many have taken as proof that it is not a real cryptocurrency, that it is centralized, and that it will eventually fade away as a bad project. However, Ripple Labs continues to deny having authority over XRP and its network, and over time, they distanced themselves from the coin, proving that it can actually exist without the company’s support.

Meanwhile, XRP remains a coin that fuels the company’s products such as xRapid, and this is where its main use case lies. xRapid, as well as several other Ripple products,  have a very important use case, and that is the ability to send international payments almost instantly. This is a massive step up from old technologies used for sending cross-border payments, which often result in days of waiting for the transaction to get completed, as well as large fees.

Because of this, XRP has earned itself a name of ‘remittance coin,’ and banks around the world have started accepting it as one of the main components of xRapid. Because of this, holding XRP may be a very smart decision, as the coin is bound to eventually grow in price and become one of the most used cryptocurrencies in the market.

BAT

Basic Attention Token, or BAT, is a coin that aims to disrupt the way online advertising works. The coin is the main component of Brave browser, an internet browser which blocks ads and trackers by default, allowing users to choose to view ads when they themselves want to. In exchange, they are rewarded with a certain amount of BAT tokens.

This system has the potential to completely change advertising, and take the power away from intermediaries such as social media networks. These are the websites to which companies need to turn to and pay massive amounts in order for their ads to be displayed. Meanwhile, those ads are not what the users want, so they use ad-blockers and similar devices, meaning that the companies are wasting large amounts of money with no returns, while mediators such as Facebook and other similar firms take all the profit.

Brave and BAT will bring companies in direct connection with the internet users, and allow them to get direct feedback. Meanwhile, as mentioned, users have an actual incentive to view ads, as they themselves are getting paid for doing so and providing valuable feedback. With such a large potential to impact advertising, BAT is bound to be one of the big coins in the future, and it is more than worth having it now.

EOS

Finally, there is EOS. EOS is a development platform as much as a cryptocurrency, and similarly to Ethereum, it allows developers to create smart contracts, decentralized applications, and even new tokens. Because of this, EOS is often considered to be a potential Ethereum Killer, as it does the same thing as Ethereum, only faster and better.

However, EOS had some problems during the launch of its MainNet, as well as later on, which have made it somewhat controversial, and there are many who believe that Ethereum is still a better choice.

But, EOS seems to have resolved its issues, and it also created a number of interesting dApps, although none of them have yet earned the name of ‘Killer dApp.’ Eventually, one such app will likely appear, and it will potentially have millions of users. When that time comes, those HODLing EOS might wake up to a massive surge in the coin’s price, which is why it might be smart to invest in it early.

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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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Altcoins

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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Altcoins

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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