Connect with us

Altcoins

Why the Whales Couldn’t Care Less

Published

on

What’s wrong with crypto investing?
If you ask traditional investors, you’ll probably get responses like:

  • Most projects have zero transparency.
  • There are too many impractical solutions being developed.
  • Few project leaders have the business experience needed to successfully launch their platform.

While three distinctly different issues, they can all be traced back to one major problem: Most projects don’t consider the needs of the traditional investor, which can be a crucial mistake when going after, excuse the pun, the big fish. This is because too many blockchain startups focus on attracting whales rather than the functional, conservative crypto investor.

This causes a number of long-term problems which can negatively affect the integrity of a project. For starters, whales aren’t necessarily interested in the long-term success of the project. They’re looking to invest in a startup when the price is low, then sell as soon as they’re able to maximize their profits.

Whales Aren’t Concerned with the Project

Naturally, there will be whales looking for investment opportunities everywhere, not just in the crypto space. However, the problem with blockchain projects is that they become so whale-oriented that companies start to lose the scope of their initial goals and objectives and wind up catering to whales rather than the blockchain community and their long-term investors.

What’s more, many whales end up manipulating the value of tokens to further increase their earning. If you’ve ever watched the price of a token soar after it was being overhyped on social media, or watched a token crash after negative, speculative news about a project went viral, then you’ve witnessed whales manipulating the market firsthand.

The Industry Needs a Workable Alternative

As it stands right now, the blockchain industry is overrun with whales looking to become the next Tim Draper and scammers looking to make a quick buck. Before we can truly legitimize blockchain technology and onboard serious, longterm, value-based investors, there needs to be a change in how startups raise funds.

Going forward, blockchain projects should:

  • Have safeguards to protect supporters against scammers.
  • Be aligned with the interests of the serious investor.
  • Be able to sustain themselves without the assistance of pump-and-dump whales.
  • Be free of speculation and unnecessary hype.

Guess what? We’re closer to this reality than you think.

The Solution Is The Distributed ICO

Distributed ICOs are a new, more efficient way for blockchain projects to raise money. They do this by bringing the security of smart contracts and traditional project management to the blockchain arena.

Instead of generating hype and appealing to the deep pockets of whale investors, distributed ICOs target the serious blockchain enthusiast by ensuring supported blockchain projects are practical and capable of addressing real-world issues.
Here’s how the Distributed ICO works:

  • Funding is based on the actual needs of the project. Startups are only able to raise the money they need to ensure their platform succeeds, effectively reducing the need for whales.
  • Funds are distributed over an extended period of time rather than at once. Like years and quarters, the project is divided into periods and rounds. At the end of each round, a specific number of tokens are allocated to the investors.
  • At the end of each round, investors are able to vote on the future of the project. This ensures that the platform is always aligned with its investors. If the investors vote not to continue the project, their funds are automatically returned and the ICO is terminated.

Moreover, the distributed ICO model rewards early investors by offering tokens at a discounted rate in the early periods of the ICO.

Sound interesting? Visit ICOSuccess today to learn more about Distributed ICOs and how you can use them to take your blockchain project to the next level.

Continue Reading
Click to comment

Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

on

By

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…

Continue Reading

Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

on

By

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

Continue Reading

Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

on

By

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,…

Continue Reading

Trending