Altcoins
Ledger now supports Tron (TRX) on its Hardware wallet, Ledger Blue
After being listed on Abra wallet and ChangeHero just recently, Tron announced yesterday through the official Twitter page of its CEO, Justin Sun, that Ledger Blue (A wallet produced by Ledger) now supports TRX. Mr. SUN said,
“Thanks, @LedgerHQ for supporting TRX on your hardware wallet Ledger Blue.”
A hardware wallet is a physical device that permits a crypto holder to store his/her digital asset and get them managed even offline. To get to your funds, all you need to do is get the hardware wallet connected to your PC and the internet and then, you have to input your password.
It is important to know that Ledger is one of the leading companies that aims to secure crypto assets from online theft and hackers. However, we do know that cryptocurrencies are now targets of online hackers and criminals – Ledger is focused on putting all these to a halt by creating secured wallets for all crypto holders.
Nonetheless, Ledger has been supportive of TRX as its other hardware device, such as the Ledger Nano S, also supports TRX.
The Ledger blue is a more sophisticated hardware device than the Ledger Nano S. It is also more Luxurious and more importantly, it offers excellent versatility for sturdy cryptocurrency holders. It is important to keep in mind that Ledger blue offers a mainstream user experience – it is a more advanced security wallet.
According to the official website of Ledger, Ledger Blue is:
“premium hardware with an advanced user experience thanks to the touchscreen interface. It is built around a Secure Element and includes all the security features you’d expect from a ledger device.”
It is a popular notion among cryptocurrency holders today that if you want more than a crypto hardware wallet, then, the Ledger blue is a good pick as it is also tagged as the “most advanced hardware security on the market.”
TRX listing on Ledger Blue is also said to be great news for TRX holders as they can now trade, hold, send, receive, and manage their cryptocurrency wherever they go. The Ledger Blue is compatible with all devices, and it now supports about 24 currencies – which get updated monthly.
Using TRX with the Ledger Blue
TRX has just been introduced to the Ledger Blue; however, you have to follow the right steps to use your Ledger Blue on Ledger’s official support page.
Additionally, to make your Ledger Blue work properly with great efficiency, you have to make sure you operate the device with the latest firmware and also have an update to the latest version of TRX application on the device.
Once that is done, you can have the opportunity not only to hold but get more user experience like having the chance of sending and receiving money with the Ledger blue.
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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 thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pxhere.com
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…
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…
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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