Altcoins
Litecoin, Tron, Nano, and Bitcoin appear as stars on Bitcoin Superstore
Bitcoin is a top-notch cryptocurrency and the most widely traded cryptocurrency in the crypto sphere. It occupies the No.1 position on CoinMarketCap today. And now, the crypto-king has declared its dominance once again as it becomes the coin that’s used the most on Bitcoin Superstore, a platform that allows users to shop online using cryptocurrencies from 200K stores worldwide (including the likes of Starbucks and Amazon).
Shockingly, the second and third largest cryptos, Ethereum and Ripple’s XRP respectively are not that popular on the platform. Bitcoin Superstore lists out Bitcoin, Nano, Tron, and Litecoin as the ‘most used’ digital currencies in the past ten days or so. Recently, the biggest (in fact, only prominent one at the moment) online crypto superstore said this on its Twitter page:
https://twitter.com/BitcoinSuperst1/status/1038475506394558464
As noted in the tweet, Nano, which occupies No.30 in the cryptocurrency market is the second most used cryptocurrency on 200+ online stores taking about 20%; Tron at 17%; Litecoin holding 8%.
It is important to know that Bitcoin Superstore happens to be the only cryptocurrency store that allows any customer to buy from nearly any online trader with the top 10 cryptocurrencies. Bitcoin Superstore states that within the last ten days, these cryptocurrencies have been used the most.
Litecoin (LTC)
Litecoin was created as a ‘fork of Bitcoin;’ it is also regarded as the silver to Bitcoin. LTC was created in 2011 and was seen as a big alternative to Bitcoin. It is one of the largest altcoins in the crypto sphere. It occupies the NO.7 position in the crypto sphere and overall, its performance has been ‘just okay’ lately.
Tron (TRX)
Tron is one of the favorite cryptocurrencies today. Lately, Tron has partnered with lots of companies including Twitter. The cryptocurrency recently got listed on ChangeHero and unveiled its new project named: Project Atlas.
Additionally, it has received further attention as the blockchain firm launched SeedGerminator – an accelerator for the developers who wish to create tokens, Dapps (Decentralized Applications), and technology on the Tron protocol. Overall, Tron is doing quite well and occupies the No.13 position in the crypto market today.
Nano (NANO)
Nano occupies the No.35 position in the crypto market and the cryptocurrency came into limelight in December 2017 at the time when investors were looking for better cryptocurrencies with the potential to perform better than Bitcoin.
Nano also had a big rise last year but decreased alongside other altcoins in the crypto sphere. Nano’s meteoritic growth just before the market dipped left its investors with nothing but deficits. Going in some flash-backs, Bitgrail owner Francesco Firano had even blamed Nano for the hack that made Nano dipped and slipped from its position to what it is now.
Overall, Nano is still doing quite well. Though, its blockchain structure had major problems such as that it may be vulnerable; but none of these problems have been found so far. In recent weeks, Nano has been performing better than many big altcoins.
Bitcoin (BTC)
As it is clearly seen, Bitcoin is the most traded coin in the world of crypto. Bitcoin was created in 2008. And one important thing is that no one knows who created Bitcoin or its whitepaper. We just know a name, Satoshi Nakamoto, and have seen an ‘unconfirmed’ headshot till the date.
Bitcoin had a meteoritic rise to $20,000 last year, before the big crash and now it is traded below $6500 mark. On a technical level, Bitcoin is still doing very well, and its performance tends to affect other altcoins in the crypto sphere. It also has the largest market capitalization of $108,682,214,552.
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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.
Photo by Alexander Andrews on Unsplash
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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