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Altcoins soaring: Cardano, Tron, and Stellar (XLM) surge up to 18%

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Cardano Tron Stellar

The crypto market has been green today, and in past seven days, the price of Bitcoin and the altcoins has increased rather nicely. Altcoins are leading the market by significant percentages. Out of the top 10 altcoins in the market today, XRP, Tron (XLM), Stellar Lumens (XLM), and Cardano (ADA) lead the growth chart.

After Ripple, at the time of press, Stellar Lumens (XLM) leads, followed by Cardano (ADA), and then Tron (TRX) – the rest of the altcoins follow. On the other hand, the total market capitalization of cryptocurrencies has increased considerably to $223 Billionfollowing the recent bullish trend of the market. Let’s take an in-depth look at Cardano (ADA), Stellar Lumens (XLM), and Tron (TRX).

Cardano (ADA)

The price of Cardano (ADA) has increased by 13.31% in the last 24 hours, following the bear runs that occurred during the previous seven days. It is important to know that ADA is trading at $0.08459 at the time of writing with a market cap of $2,193,166,519.

There have been lots of developments with Cardano (ADA) in the past two months. The cryptocurrency launched ‘Project Prometheus,’ a project that will make sure the properties of the platform get migrated to digital devices and wallets.

Additionally, the founder of Cardano (ADA) – also the CEO of IOHK have earlier addressed investors about another project known as ‘Project Plutus,’ a project that makes use of complex programming language to improve Cardano.

Lots of ADA trades have occurred on UpBit exchange – taking more than 34% volume there. Cardano surge comes at the time when it got featured on Okcoin together with Ripple and Stellar.

Tron (TRX)

Another cryptocurrency making some bullish runs in the crypto market is Tron. TRX has increased by a significant percentage – before the current bull run, its price was low.

On top of market trend, much of Tron’s price surge has been relatively due to the unveiling of TronWeb – a front-end Javascript API. It is important to know that TronWeb will help to connect people using the Tron protocol.

The announcement was made on the official Twitter page of Tron Foundation:

Today we are releasing TRONWEB, a front-end javascript API that connects your project to the #TRON blockchain, equivalent to Etheurem Web3.js.”

Subsequently, Tron Foundation seems to be not slowing down on this, and it has stated that there are more upcoming projects to aid Tron’s network very soon.

At the time writing, TRX is trading at $0.02236, thus, increasing by 8.53% if we talk about valuation in the last 24 hours. The total market capitalization of cryptocurrency stands at $1,470,361,529. Tron has recently been listed on BitBay, Binance, KuCoin, and Bittrex.

Stellar (XLM)

Stellar (XLM) has been creating lots of thrills around it, especially when it earlier announced that IBM will be launching a new stable coin, using Stellar’s technology.

Stellar is back again, and as stated above, it just got listed on Okcoin. The blockchain project is expected to launch Lightyear soon – a ledger that helps in managing digital assets.

At the time of writing, XLM is priced at $0.2513, representing a growth of 18.65% in the last 24 hours only. This digital asset has a market capitalization of $4,730,782,855.

In the recent times, the bulk of the trading volume of XLM has been on Binance: XLM/BTC pair was 27.35%; XLM/USDT was 16.31%.

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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. The author is long Bitcoin. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of PixaBay

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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