Altcoins
Will 2019 be the Year of TRON (TRX)?
While even the best years cannot help sustain bad cryptocurrency projects, the good and strong ones can do much even when years are extremely bad for crypto. TRON (TRX) has proven this in 2018 by being one of the most active and most popular projects around.
Throughout the previous year, TRON has been making great progress, setting foundations for growth and expansion, which may eventually lead to its dominance over the crypto market. Now, 2019 has barely even started, and it already promises to be a year filled with potential and all kinds of different possibilities for this coin.
TRON in 2018
2018 has started with a market crash that has brought a lot of coins down from their all-time highs. This is true for TRON as well, and it did not manage to avoid being affected by bear market, no matter what its developers did. However, instead of trying to fight the market and its trends, they focused on expansion, development, partnerships, and future projects.
The first big step for TRON was the launch of its MainNet, with dozens of listings and partnerships being announced right before the final launch. After that, the coin transferred its tokens from Ethereum’s network, it had a Super Representative election, and it even managed to purchase BitTorrent, which was a part of a secret project back then.
The project was quickly revealed to be what we now know as TRON’s most ambitious move yet — Project Atlas. In the meantime, partnerships and listings continued, making TRX one of the most popular and far-reaching coins on the market. All of this, while impressive, only serves as a means to an end, steps towards the coin’s ultimate goals — decentralizing the web and revolutionizing the entertainment industry.
TRON’s advancement became clear in late 2018 when it started launching dApps which have seen a considerable amount of usage. The number of TRX transactions skyrocketed, and TRON even managed to beat the records set by Ethereum network, which is one of the largest dApp creators within the blockchain space.
What awaits TRON in 2019?
So far, TRON has made a lot of moves, all of which turned out to be the right ones. In addition to that, its creator, Justin Sun, continues to post on Twitter, constantly updating the community regarding the project’s development, partnerships, and breakthroughs.
Many believe that 2018 — while marked by many important events — only served as a stepping stone for TRON and that its true rise to dominance will come in this, and following years. It is also important to note that TRON understands the importance of a strong community, which is why all of its projects are focusing on making the TRON ecosystem, and even the entire internet, better for its users.
As mentioned, TRON’s 2018 development was not focusing on improving the coin’s price, but rather — its ecosystem. Now, with some of the large obstacles out of the way, TRON can focus on actual growth and perhaps even dominance over other coins. It still remains a valid contender for the position of representative of the third generation of crypto, and while there is a lot of competition, TRX actually has a pretty good chance of rising above them all.
Of course, it is impossible to predict the future and tell whether or not TRON will complete its goals and bring the internet into a new age. However, so far, all of its decisions ended up being extremely good for the coin, and there is no real reason to doubt that this will change anytime soon.
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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
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…
Altcoins
Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy
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…
Altcoins
Solana Price Breaches $60 Amid a Symphony of Bullish Indicators
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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