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Tron, Cardano, NEO among the highest token holdings worth crypto bodies

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Tron (TRX) is riding the wave at the moment, and it has attracted the attention of big FinTech companies in the world today. The blockchain has also paved the way for innovations and, it is becoming the fastest growing cryptocurrency in the market today. Tron has acquired and produced numerous projects not only to benefit its ecosystem but its community too.

And now, a recent report by Diar says that project squads for the top 5 crypto organizations posses about 2.6 billion USD in their token holdings. The list includes IOTA, Cardano (ADA), Tron (TRX), NEO, and Tezos.

It is important to note that recently, the fifth set of TRX was burnt – about 1 billion ERC20 TRX tokens. After that, Tron CEO Justin Sun even decided to lock 33 billion TRX tokens until 2020.

According to the report by Diar, it has been noted that lots of Initial Coin Offerings that got created this year alone are struggling. The report notes,

While Initial Coin Offerings (ICOs) have to date raised double in 2018 what they did last year, the controversial fund-raising vehicle is seeing its popularity diminish to select projects. Diar number crunching shows that 70% of tokens are now valued at less than what was raised during their ICO. And with tokens having no equity representation, markets have shrugged off cash-on-hand as part of an enterprise valuation

Diar has also summarized that the activities of ICOs are to be tamed till the end of this year, with only seventeen of crypto projects finalizing their fundraising in August this year.

Tron Mass Adoption Rate Increases

A new open-source wallet that is built on Tron’s network known as TronWalletMe has just been released. The company that has produced this wallet also decided to run for Tron’s Super Representative. The firm made the following announcement through its official Twitter page:

We are very excited to announce that TronWalletMe is running for Super Representative on the network of Tron (TRX).”

According to the company, “TronWallet is open-source beautiful, secure, simple, and powerful peer-to-peer digital currency wallet for Tron (TRX).” The wallet can now be used to send, receive, and vote on Tron’s network effectively.

Not too long ago, Tron also got adopted by a gaming platform which also runs on the Tron network: Intergalactic Gaming.

Tron (TRX) Recent Listings

Tron recently got succeeded to get two new trading pairs added to its ecosystem. Furthermore, Binance recently annexed TRX/USD on its platform, and TRX/BNB trading pairs will also begin on the platform.

Subsequently, as GlobalCoinReport reported recently, Bittrex Exchange also listed Tron by adding USD/TRX and USD/LTC pairs on its platform.

Tron has been listed on Kucoin, and TRX/USD trading pairs have also commenced on the platform.

Additionally, another famous crypto exchange BitBay listed Tron on its exchange platform, too. It is important to also note that BitBay boasts more than 80k users worldwide and it has now become the 3rd largest exchange in the crypto market. BitBay will now resume the withdrawals, deposits, and exchange of these trading pairs: TRX/EUR. TRX/USD. TRX/PLN, and TRX/BTC.

Tron is flourishing at the moment as it enjoys more usage and adoption from FinTech companies and notable exchanges in the crypto market.

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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. The author is long Bitcoin. 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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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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