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TRON (TRX) Is Likely to Go Big in June

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Tron

We are now halfway through 2019, and the situation in the crypto space is better than ever in the past year. Numerous cryptos are seeing large gains, often cut by brief periods of stagnation or small corrections, but the overall sentiment is obviously bullish.

Bitcoin sits way above the $8k mark, and while it struggles to go beyond $8,700, it is still trying to grow. Investors and analysts are quite bullish regarding the foreseeable future, and a lot of altcoins are expected to follow BTC in this regard. However, today, we would like to talk about one particular altcoin — TRON (TRX) — as well as why it is likely to go big in June.

TRON’s progress so far

As many people in and out of TRON community know, TRX is not a project that often sits still. It is rich with announcements, particularly when it comes to his CEO, Justin Sun, whose enthusiastic tweets often seem like hype building to many.

However, TRON made some massive progress in 2018, which was the worst year cryptocurrencies have ever seen. This is not something that can be achieved through hype alone, and the project needs to have true quality and value in order to see such massive development in the middle of the longest and harshest crypto winter in the past decade.

During that time, TRON launched its’ TestNet and MainNet, it got supported and listed on countless exchanges, it migrated its tokens and held Super Representatives elections, and it even acquired BitTorrent, which led to its project Atlas. Earlier this year, the project launched BitTorrent token on Binance Launchpad, which was the most successful ICO in history up to that point. Not only that, but it actually managed to disrupt the platform, causing it to go down briefly, with nothing but a major demand.

The partnership and a close connection to Binance, which decided to openly support the project, brought even more attention to TRON. Meanwhile, the development of its blockchain continued, and its ecosystem saw a flood of new dApp and smart contract developers. In fact, it even managed to attract developers from other projects, such as Ethereum, EOS, and other dApp development platforms.

It also broke multiple records regarding the number of transactions, daily trading volume, and alike. China’s crypto rankings continue to move TRON up their list with each new report, and the project has hit countless new milestones, such as $1 billion in daily transactions.

It even got on the list of coins supported by the Opera browser. Then, it launched new privacy features, it continued its expansion into the gaming industry with a new partnership with SkyPeople, among others, and it recently revealed a BitTorrent file system. All of these are only the tip of the iceberg, which only serve to show that TRON is far from being all about hype, and the project sees constant progress, with massive new developments per each month.

TRON price and future

Throughout its extremely successful history, TRON did have one issue, and that is its price, which failed to reflect the project’s progress time and time again. Whenever TRON achieved a successful milestone or announced a new partnership, project, update, or anything else — all eyes were on its price, which usually fails to react.

It did react in some instances, but not very often, and it still sits quite low compared to the heights many believe it should have seen by now. It is currently still struggling to enter the top 10 largest cryptocurrencies list, after being pushed out when Bitcoin SV re-emerged a few weeks ago. However, even while it is off the list, currently sitting at 11th spot, it still has a massive $2.43 billion market cap, which only shows how well the market is doing, compared to the year before.

With constant progress, new plans and updates, partnerships and projects — TRON is bound to see a surge sooner or later, and many believe that it might come quite soon. June is likely to see some positive movement of the price, as Justin Sun recently announced that ‘something amazing’ is coming. With that in mind, keeping a close eye on TRON in weeks to come is likely a good idea, as the crypto space still remains highly volatile, and you never know when the next major surge might unexpectedly hit.

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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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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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Altcoins

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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