Altcoins
Solana Price Surpasses $100, Could This New Altcoin Rise Next?
Solana saw a slight price increase, surpassing the $100 mark for the first time in over ten days.
However, the crypto trend Bitcoin Minetrix is seeing even more bullish momentum as its presale quickly approaches $10 million.
Solana explodes as major dApp nears token launch
Solana moved ahead of the rest of the top 10 today, up 7.08%. It also performed particularly well this week, up 28%.
It is currently the fifth largest cryptocurrency, after BNB, USDT, ETH and BTC. It has a market capitalization of $45 billion and a 24-hour trading volume of $2.9 billion, up 29% today.
The recent surge in interest in Solana is attributed to the channel’s progress.
Solana-based liquidity aggregator DEX Jupiter has seen a substantial increase in trading volume, with users planning an airdrop ahead of its token launch on January 31.
The network recently reversed Uniswap in terms of trading volume, according to CoinGecko data. This shows notable interest in the protocol and the broader Solana ecosystem.
Uniswap has since surpassed Jupiter again, but Jupiter remains the second highest DEX, holding a 14.4% market share in terms of trading volume.
Interest in Jupiter is significant because it has led to a massive influx of liquidity into the Solana blockchain, likely the catalyst for the recent price surge.
This is evident in DeFiLlama data, showing that Solana TVL and stablecoins are at their highest levels since the third quarter of 2022.
Meanwhile, data from The Block shows that Solana’s daily active addresses are also growing and are currently approaching the highest annual level.
These measures illustrate a brewing enthusiasm around the Solana chain, which is also evident in expert analyzes of where its price could go.
ChristiaanDefi, X analyst recently announced his long-term Solana target is $500, almost 5 times its current price.
The analyst also forecasts near-term price targets of $137, $163, $194, and $225.
Christiaan backs his predictions with technical analysis, referencing trendline support and bullish moving average indicators.
However, he also speculates that a Solana ETF could be in the works. While it may seem far-fetched, BlackRock’s proactive steps in its Ethereum ETF efforts mean that a Solana ETF should not be ruled out.
Meanwhile, respected analyst Michael van de Poppe anticipates a move to $140 for Solana after “a longer time frame test of support at $80 provided support.”
Michael alludes to Solana’s earlier pullback: “After the initial push higher, there is always a period of consolidation, and it appears to be over.” »
The Solana network is experiencing growing interest after a period of relative inactivity.
But Solana is not the only crypto experiencing such momentum. The new pre-sale Bitcoin Minetrix is also attracting attention thanks to its captivating use case and early pre-sale success. Will this be the next altcoin to explode?
New Altcoin Bitcoin Minetrix Approaches $10 Million in Presale – Could It Explode?
Bitcoin Minetrix is a new Stake-to-Mine cryptocurrency, allowing users to mine Bitcoin in the cloud by staking $BTCMTX tokens on its Ethereum-based platform.
The process is simple: users simply stake $BTCMTX against Bitcoin mining credits, which they can burn for cloud mining power, resulting in free Bitcoin.
This use case allows anyone to mine Bitcoin without expensive hardware or technical complexities. Additionally, the project removes the space and noise constraints associated with Bitcoin mining and offers a greener alternative.
Bitcoin Minetrix also eradicates the risk of cloud mining scams with its decentralized and transparent $BTCMTX token.
These scams have become a significant problem in the industry. The Bitcoin minetrix white paper explains that earlier solutions would attract users with decent returns, but would later present “unwarranted complications” once users increase their deposits.
Bitcoin Minetrix also received a smart contract Auditdemonstrating its commitment to transparency and security.
Another advantage over competing solutions is Bitcoin Minetrix’s variable lock period, allowing users to control the length of time they stake their tokens.
The Bitcoin Minetrix presale is ongoing, but users can start staking immediately. The current staking APY is 68%, but it will decrease as the staking pool increases.