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Last Week’s Top 3 Most Significant Crypto Events

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The crypto space never sleeps, and there is always something going on. Every day, there is some interesting event worth mentioning, some of which may even have significant consequences on the entire crypto space. With that in mind, here are the top three crypto events related to the crypto space that occurred in the previous week, and which may have impacted the world of digital currencies in one way or another.

1) A crypto Whale moves a large portion of XRP

Many have probably already heard the term “Crypto Whale,” as it is quite common to find discussions mentioning them and their activities. The term is a name used for coin holders which tend to buy, sell, or move massive amounts of digital currencies. These are usually professional investors with large funding who can impact the crypto market in any way they please, and make the prices rise or fall depending on their calculated business decisions.

They are called Whales because of the large amounts they move, which usually have a pretty big impact on the market. And, since they are so influential, there are many in the crypto space that have made it their mission to follow the activities of known Whales, and base their business decisions regarding the Whales’ movement.

One example is the Twitter account known as Whale Alert, which has around 50,000 followers. This account regularly posts updates regarding the biggest movements of Whales, whether it is a coin sale, purchase, or just movement from one wallet to another. The account also tends to indicate how big of a Whale in question is, by posting red light emojis in the report. The more red lights the report has — the bigger the Whale in question.

Well, earlier this week, Whale Alert reported several XRP movements made by a Whale that deserves 10 red lights. Whale Alert also reported that the Whale moved several hundred million dollars in XRP. The first movement was from Ripple OTC Distribution wallet to an unknown wallet, and it contained 392,834,643 XRP ($114,187,437).

The second one included 463,420,929 XRP ($136,324,998), which were moved from Ripple to Bitstamp.

2) Weiss Ratings had a change of heart regarding TRON (TRX)

Weiss Ratings is a well-known group that was established to provide crypto investors with investment advice. The group also regularly publishes various reports, in which they take a closer look at some coins and rank them in accordance with numerous aspects. These may include anything, from the project’s technology and goals, to their performance, and how good of an investment the project may be.

With that in mind, it is worth remembering one rule that every trader and investor need to keep in mind — investment advice, even if coming from a professional, is still just advice. The crypto world is far too volatile and unpredictable for anything to be set in stone, which is why investors and traders should seek out other peoples’ opinion but also form their own before making the final decision.

The event that happened earlier this week is proof that even professionals make mistakes, and end up changing their mind. The event in question is Weiss Ratings, who gave TRON quite a tough time in the past, now praised it by stating that it is a promising project.

It appears that several of TRON’s actions managed to change the group’s mind about the project, including the hiring of a former US SEC official, which silenced any claims that the project is a scam which simply copied Ethereum’s code under a different name.

3) Cardano (ADA) might take the spotlight in 2019

It is no secret that 2018 has been a terrible year for cryptos. Their prices were shot down from their all-time high, and many have dropped by as much as 80%, or even more, depending on the project. However, there are indications that 2019 will be much more favorable for everyone involved with the crypto space, with some projects taking the spotlight away from the old hits.

One such project is Cardano (ADA), which shows all signs that it is ready to make a serious impact on the crypto space. The coin has always been surrounded by a lot of positive news and developments, while it managed to avoid any scandals or controversies. Furthermore, it also announced some big improvements, such as the upcoming Shelley release, which is scheduled to come to pass within Q1 of this year.

The Shelley release will be a big move towards decentralization for Cardano, and since decentralization is what the market and its participants currently desire the most, this will likely draw a lot of new users to the project. As mentioned earlier, nothing is set in stone, and that includes predictions regarding different cryptos. However, the potential is there, and while investors are encouraged to make their own opinions and deductions, pointing out that Cardano is worth keeping an eye on in 2019 should be taken into account.

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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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