Altcoins
The Potential of TRON TRX Gaming Industry
The gaming industry is one of the most popular and fastest-growing industries today. It’s a multi-billion dollar industry that has also demonstrated a growing interest in blockchain technology. The possibilities of combining blockchain with gaming are endless, and very attractive to the game makers.
From the cryptocurrency point of view, entering the gaming industry would be a colossal success for every coin that gets accepted into it. Due to the sheer size of the industry, any accepted coin would get massive levels of exposure, and would pretty much ensure its survival, no matter what the future brings. TRON (TRX) is one of the cryptos that is perfect for this type of industry, and it perfectly aligns with TRON’s own goals.
TRON TRX gaming industry
TRON is a crypto that aims to lead to the creation of fully decentralized web, but on a more personal note, TRON is also very interested in revolutionizing the entertainment industry. Its blockchain offers numerous applications to the public, and thanks to this attitude, it managed to enter some very large and important partnerships.
While there are many industries interested in collaborating with TRON, the gaming industry is among the ones that are nothing less than perfect for this coin. TRON has all the technical capabilities necessary to allow the creation of large and complex games, in a completely decentralized environment.
Its blockchain has zero fees, as well as speed and capacity to handle as many as 10,000 transactions per second. This makes it perfect for the development of complex online games that would aim at a global audience. This is not only a speculation and talks about potential at this point, either. In fact, this has already been happening for a while now.
Additional benefits of TRON TRX gaming
Several game developers are already working hard on creating many great games on TRON’s blockchain. A lot of these games might go viral in the near future, which would not only increase TRON’s exposure, but also its coin’s value. One game that runs on TRON blockchain is Cropbytes, which is a farming game. The best part of the game is that each win allows the player to get rewarded in actual TRX coins. That way, TRON is getting exposure, gaining popularity, and is even seeing an increase in users and use alike.
Additionally, TRON has had its own blockchain for only a few short months, In time, a lot more such games are going to appear on TRON, and when they do, the crypto will grow like never before. This won’t only happen due to the hype, but due to new use cases. Simultaneously, TRON continues to expand through numerous projects, partnerships, and important purchases.
While the games are making TRON fun and interesting to explore, the coin is entering new exchanges, getting new trading pairs, and is becoming more and more practical to use. TRON is already on a path to make its goal true, and in time, it will only advance further and further.
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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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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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