Tag: Solana

Solana Based Altcoin May Now Surge by Whopping 700%

A brand new Solana based altcoin may now surge by a whopping 700% says popular YouTube host from InvestAnswers.

The host of the InvestAnswers YouTube channel believes that one crypto project running on the Solana (SOL) network will go on a bullish rampage.

The InvestAnswers host tells his 472,000 YouTube subscribers that the decentralized exchange (DEX) aggregator Jupiter (JUP) could surge by “somewhere between a 4x and an 8x to be conservative.”

The trader’s big price prediction comes from his analysis of Jupiter’s fundamentals.

According to the InvestAnswers host, Jupiter is witnessing strong network activity based on trading volume and monthly active user count.

“If this thing takes off, if this DEX takes all the business, this is going to shoot up the CMC charts.

And currently, it’s on the CoinMarketCap at [position] 71. It just launched. 71.

When you look at all the assets above 71, there is no asset that had this number of monthly active users, this number of trading volume, this amount of growth.

Every single metric blows all of the ones above it out of the water.

Therefore, I’m very convinced it’s going to go up as long as it doesn’t break down.”

The crypto analyst also says that Jupiter does everything and addresses many of the pain points that he experienced over the years using different decentralized exchanges.

“You can swap, you can do perps [perpetual contracts], leveraged trading, you can dollar-cost average, you can go cross-bridge.

There are I think 6,000 pairs you can trade. And you can do it in real-time with no friction.

It’s been my dream since 2020 after having the painful experience of working with decentralized exchanges in the past and working with wallets and paying cr*zy fees.”

Jupiter is currently trading at $0.006 at the time of this publication.

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Also Read: A Veteran Trader Now Becomes Super Bullish on Bitcoin BTC

Other Crypto News Today

Market News Today - Solana Based Altcoin May Now Surge by Whopping 700%.
Market News Today – Solana Based Altcoin May Now Surge by Whopping 700%.

Crypto investors now see Bitcoin (BTC) surging to a whopping $100K sometime after the upcoming halving event, according to a new study.

The research, issued by crypto trading platform Bitget, surveyed 9,748 crypto investors from different regions across the globe, including West Europe, East Europe, South East Asia, East Asia, MENA (Middle East and North Africa) and Latin America.

Bitget found that a majority of the thousands surveyed are optimistic about the future of Bitcoin.

Some 84% of respondents believe Bitcoin will surpass the prior ATH (all time high) of $69,000 in the next bull run following April’s halving event, when miners’ rewards are cut in half.

The report also notes that 55% of those surveyed believe Bitcoin will enter a stable trading range between $50,000 and $100,000.

A smaller group of respondents expect Bitcoin to exceed $150,000.

More than half of those surveyed predict that Bitcoin will have a trading range between $30,000 and $60,000 around the time of the April halving.

About 30% believe Bitcoin will exceed $60,000 in April, reports TDH.

The survey also showed that 70% of the crypto market participants plan to increase their digital asset investments.

Bitget managing director Gracy Chen made the following statement:

“The findings reflect a broad spectrum of expectations and investment plans, indicating that 2024 will be a significant year for the Bitcoin market.

We are pleased to see such positive sentiment emerging as market conditions continue recovering.”

Bitcoin is trading for $43,180 at time of this publication.

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Also Read: Cathie Wood Says Bitcoin Will Hit $1 Million

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Market News Today - Solana Based Altcoin May Now Surge by Whopping 700%.
Market News Today – Solana Based Altcoin May Now Surge by Whopping 700%.

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AVAX vs SOL: What Crypto to Choose?

Crypto News Weekly: AVAX vs SOL | Avalanche vs Solana.
Crypto News Weekly: AVAX vs SOL | Avalanche vs Solana.

The central part of the crypto community’s attention has been focused on Ethereum and Bitcoin lately.

Ethereum has been the center of the smart contract industry since its migration to PoS, while investors follow Bitcoin closely to predict the next move the market will make. 

That being said, some of the more recent blockchain protocols, like Solana and Avalanche, also have a lot to offer, even in this bear market.

In this article, we analyze these projects and compare AVAX vs Solana to see whether one has the edge over the other. 

To achieve this, we will provide some fundamental analysis of each of these tokens and gather some price predictions from experts around the internet.

This should give you a good idea of which is better: Avalanche or Solana. 

What Do We Know About Avalanche?

Avalanche Crypto
Crypto News Weekly: Avalanche vs Solana.

Avalanche is an open-source smart contract protocol released in 2020, just before the major part of the bull market of that period.

This allowed it to experience some very strong upside price action right after launch. 

More importantly, we should note that Avalanche gained a lot of popularity in the smart contract industry by providing a much more scalable network than Ethereum.

This allowed users to launch DeFi dApps that were cheap to use and extremely fast. 

To reach this high scalability, Avalanche uses PoS and a triumvirate of chains: 

  • The exchange chain, which serves to transfer assets. 
  • The contract chain, which runs the smart contracts. 
  • The platform chain, which coordinates the validators and staking mechanisms.  

By handling a portion of the computational strain, these chains allow Avalanche to achieve 50k+ transactions per second and conserve very low gas fees. 

AVAX Price Prediction

The AVAX token was one of the high-performers of the bull market in 2021, reaching as high as $146 per token.

That said, the bearish conditions have pushed the price much lower now, around $16. 

Even so, analytic websites are still very much hoping that the token will grow in value in the upcoming years.

Digitalcoinprice.com provides a target of $28.99 for 2023 and goes as high as $91.97 for 2030. 

Priceprediction.net is a lot more bullish, with a forecast of $28.44 for 2023, and a target of a staggering $405.84 for 2030.

Consequently, this might be a great opportunity for purchasing this token on exchanges like Godex

Key Facts About Solana

Crypto News Weekly: Solana (SOL) news.

Solana is one of the most highly praised blockchains of the past couple of years.

This ultra-scalable chain uses Proof of History in tandem with PoS to achieve 100k transactions per second, which makes it one of the fastest smart contract networks on the market. 

This has allowed the chain to gather thousands of developers deploying various dApps on the chain, in all categories.

Consequently, it has become one of the main rivals to Ethereum and managed to enter the top 10 cryptos by market cap. 

SOL Price Forecast

Like AVAX, the SOL token performed admirably in the bull market.

From a median price of $0.5 in 2020, SOL reached as high as $260 at the peak of the bull market.

It has currently retraced around $28 per token. 

Priceprediction.net hopes to see SOL reach $52.58 by 2023.

For 2030, their forecast targets the $605.14 mark. 

Digitalcoinprice.com is less enthusiastic, with targets of $51.43 for 2023 and only $165.52 for 2030. 

Main Differences Between AVAX and SOL

Here’s AVAX vs SOL at a glance:

Network ValidatorsBlock TimeConsensus MechanismTransaction FeesEVM Compatible 1,229~2 secondsPoS$0.01Yes2,093400 millisecondsPoS + PoH$0.00025No

Is AVAX Better Than Solana?

Avalanche and Solana have similar use cases, although their architectures are vastly different.

Solana remains faster and cheaper than Avalanche, while the latter has the advantage of being EVM-compatible. 

In all fairness, both blockchains have their benefits and drawbacks, and from an investor’s point of view, they are equally interesting to have in your portfolio. 

Related: How to Invest in Cryptocurrency for Beginners

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