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The battle of the cryptos: Tron (TRX) vs. Cardano (ADA)

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Tron Cardano

Among the top cryptocurrencies in the world, Tron (TRX) and Cardano (ADA) have been two of the most dynamic altcoins dominating the news headlines. Many crypto analysts defer about these two virtual currencies as to which is the next dominant player in the cryptocurrency sphere.

Truth be told, ever since virtual currencies emerged in the financial world, digital assets have become a fertile source of venture and investment, although that was not the initial purpose as to why they were developed.

However, in the current world, that is exactly what they are used for, as an investment asset. So, it is prudent to be aware of those virtual currencies whose attributes and features represent the best alternatives to investments.

In this case, two of the most resounding virtual assets in the crypto market at the moment is Cardano (ADA) and Tron (TRX). Let us have a look at the main features of these virtual assets and why I think they are the preferred options to invest as the crypto market continues to grow.

Tron (TRX)

Tron (TRX) is one of the most celebrated and popular virtual currencies in the crypto market at the moment, thanks to the major recent steps it has taken towards mainstream usage and mass adoption, led by its visionary leader and founder Justin Sun.

Tron (TRX) has been one of the leading virtual currencies with the most positive developments throughout the year. Apart from managing to launch TestNet successfully, Tron successfully launched its new MainNet, went ahead with its token migration, where Tron’s coins separated from Ethereum’s network and migrated to Tron’s blockchain platform.

Tron has done so much this year, the digital coin also launched its Virtual Machine (still in beta, it will get launched for the public tomorrow) and managed to purchase BitTorrent, which has become a significant pillar of Tron’s new Project Atlas.

Under its portfolio, Tron has managed to enter into more agreements with big companies than we can count, resulting to the blockchain’s default currency, TRX, becoming the official payment currency for some partner companies.

Most recently, Tron Foundation announced the inclusion and listing of Tron (TRX) on LINE’s exchange, Bitcoin Superstore, and BITBOX, which has allowed its users and holders to buy goods and services from over 200,000 e-commerce shops.

Tron foundation ultimate mission is to lead the wave of decentralizing the internet by revolutionizing the entertainment and creative content industry, and from the look of things, Justin Sun is leading from the front in realizing this dream.

After all, from what we have seen the cryptocurrency is capable of doing, it is Tron alone as a platform that has the capability of achieving this fete.

Cardano (ADA)

Although being one of the youngest cryptocurrencies in the crypto market, Cardano (ADA) has managed to record significant growths in multiple ways this year leading to a pile of opportunities for cryptocurrencies.

When it comes to the question of what makes the digital coin so special, first, we must acknowledge that Charles Hoskinson created it.

An astute businessman on his right who formerly was Ethereum’s (ETH) and Ethereum Classic’s (ETC) co-founder. Due to his reasons, Charles left both projects to start his blockchain technology and cryptocurrency to create the optimal digital currency he had in mind.

One of the facts that make Cardano (ADA) stand out is that it was developed by a multi-disciplinary which has an extensive background in the crypto domain. Hence, every decision made during the development of the digital coin was well-calculated and executed. Cardano as a blockchain company expects to get global recognition and adoption as its mainnet becomes fully operational soon.

For me, it’s very tough to pick one from the two, both have targets of solving real-life problems, and of course, the leading heads behind both are nothing short than ‘real visionary.’ Not an investment advice, but as things stand currently, I’d like to invest in both Tron (TRX) and Cardano (only the amount I can afford to lose if things get worse).

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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.

Photo by Richard Lee on Unsplash

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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