Altcoins
Tron SeedGerminator, a DApp and technology accelerator explained
Tron is a digital asset that aims to create an infrastructure for a decentralized world. It is important to know that Tron’s network is one of the biggest in the world, because it offers scalability, efficiency, speed, and throughput support that features DApps in its ecosystem.
So far, Tron has created many decentralized applications where contents producers can create contents without the use of mediators (YouTube and the likes). Lately, Tron proposed another decentralized application known as SeedGerminator.
SeedGerminator is an accelerator for developers who want to create Dapps, tokens, and technology on Tron’s protocol. Subsequently, SeedGerminator is also a crowdsourced funding platform where projects or contents are granted access to 10 percent of the node rewards produced by Sesameseed community voting.
It is also important to keep in mind that Sesameseed is a blockchain community and a Tron Super Representative. SeedGerminator is a proposed project of the Sesamesed Community to vote on. This new proposed project was developed by Tron but sponsored by Sesameseed community.
In the course of the project, Sesameseed will reward its community airdrops and community access. Also, projects will offer seed holders the opportunity to use their tokens to participate in projects. SeedGerminator will help the Sesameseed community develop the Tron network efficiently.
The Sesameseed community through Tron is planning to launch the SeedGerminator platform this week.
Benefits to Tron
Just like its Tipperbot, SeedGerminator will help grow Tron network and will encourage the use of Tron’s ecosystem, and show its abilities to the public at large.
It is important to keep in mind that this project will debut on Twitter, Reddit, etc., thus, increasing and enticing other DApps developers around the world – it will also advertise Tron to the world and expand its network globally. SeedGerminator will foster Sesameseed community projects and fast-track them unto the Tron network, too.
Benefits to DApps Developers
For lots of DApps developers, this will be the opportunity to feature and showcase DApps to the world. The project will also help developers seeking to create DApps on Tron’s network.
Proposals that meet the needs of Tron’s guidelines will be voted on by the community. Developers who are looking for funds from the sesameseed 10 percent reward pool should contact at the sesameseed community official website.
Benefits to the community
Tron’s community has grown wide due to the number of projects that have been actualized by Tron network. Two months ago, Tron introduced the Sesameseed Tipperbot – a bot system on every social network to help in the transfer of Tokens by making use of the chat function on social media platforms.
Just like the Sesameseed Tipperbot, the SeedGerminator will come with the emblem of the sesameseed community when the project has been voted in.
As stated earlier, seed holders would have the ability to use their seed to participate in projects. This project will offer community rewards, such as airdrops and early access to all projects – 80 percent of all the rewards generated by SeedGerminator to the voting members.
The official launch is this week, and the voting process will begin; every vote decides if the project will get enough community funds.
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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 NESA by Makers 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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