Altcoin
These 8 Altcoins May Skyrocket As Binance Expands Support
Artificial Superintelligence Alliance Price Chart (FET), Radiant Capital (RDNT), Floki (FLOKI), Aave (AAVE), LayerZero (ZRO), Sun (SUN), Bittensor (TAO), and VIDT Dao (VIDT) are the eight altcoins whose price could skyrocket following Binance’s decision to expand its trading support for them. This move from the largest crypto exchange by market share is expected to draw more attention to these coins, which could ultimately lead to a price surge for them.
Binance Expands Trading Support For These Altcoins
Binance announced in a blog post that it had updated the leverage and margin tiers of FETUSDT, RDNTUSDT, 1000FLOKIUSDT, AAVEUSDT, ZROUSDT, SUNUSDT, TAOUSDT, and VIDTUSDT perpetual contracts. The crypto exchange further highlighted what these updates entailed. Per information shared in the announcement, the updates made to these eight altcoins’ leverage and margin tiers are similar.
Traders can now use up to 75x leverage on FET, RDNT, FLOKI, AAVE, ZRO, and TAO instead of the previous maximum leverage offered for these coins. Before now, traders could use up to 75x leverage on SUN and VIDT, which remained unchanged following Binance’s update. However, an update that applied to all eight altcoins was the increase in the notional value of positions depending on the leverage used. Meanwhile, the maintenance margin rate was updated to 1% for leverage between 51x and 75x.
This update is significant as more liquidity is expected to flow into these top coins, considering that traders can now open larger trades on them. The coins could experience a significant price surge as demand for them increases and more liquidity flows into their ecosystem.
FET Already Enjoying A Price Surge
Artificial Superintelligence Alliance Price Chart (FET) is up over 10% in the last 24 hours. Crypto analyst Phrex mentioned in an X post that the altcoin looks ready to break out above $2. As such, Binance’s decision to increase the altcoin’s trading tier could be the catalyst for the break above $2.
$FET looks ready to break out above $2 pic.twitter.com/96Lzz4Jyyy
— Phrex (@CryptoPhrex) September 10, 2024
RDNT Has $0.1 In Sights With Binance Update
Radiant Capital has risen to as high as $0.08 in the last 24 hours. Considering the recent update from the crypto exchange, the altcoin now has $0.1 in sight. Crypto analysts seem to be confident that this is a price level that RDNT can hit soon enough. One crypto analyst, Popsicle, stated in an X post that the coin looks bullish and expects it to rise to between $0.1 and $0.15 within two weeks.
More Liquidity Flows Into FLOKI
Alongside Binance expanding its trading tiers for FLOKI, the altcoin’s outlook is also bullish thanks to the recent CAT airdrop distributed to FLOKI holders. This has led to a liquidity surge in the meme coin’s ecosystem, which could ultimately lead to a price rally. Per a recent Coingape analysis, the FLOKI Price could also surge thanks to its recent partnership and market resilience.
AAVE’s Price Is Surging Quietly
AAVE’s price is up over 3% in the last 24 hours. However, the bigger picture shows that the decentralized finance (DeFi) token has risen by over 50% in the last month. This is more impressive, considering that the broader crypto market has remained stagnant during this period. Crypto whales have been quietly accumulating the altcoin, contributing to this notable price surge.
ZRO’s Ultra Bullish Prediction As Altcoin Price To Reach $40
Crypto analyst CryptoBullet recently laid an ultra-bullish prediction for ZRO, stating that $40 is a price target that the altcoin could reach by 2025. The crypto analyst highlighted the coin’s bullish fundamentals, noting no token unlocks until July 2025. With only 110 million ZRO tokens in circulation, he is confident that the altcoin can hit the $40 mark.
SUN Is Benefitting From The TRON Hype Alongside Binance Support
The SUN token has been rejuvenated thanks to the hype in the TRON ecosystem. Specifically, there has been an influx of meme coin traders on the TRON network, contributing to an increase in DeFi trading volume and a surge in the demand for the DeFi token. SUN Price also has a bullish outlook following plans to buy back and burn some coins in circulation. With such fundamentals, Binance’s decision to update its trading tier for SUN would only spark more bullish momentum for the altcoin.
TAO Price Could Rise To Current ATH
Crypto analyst Dark Horseman has made a case for why TAO’s price could surge to its all-time high of $767. The crypto analyst argued that the altcoin is one of the “best AI/DePIN projects on the market” and that at its current price of around $200, TAO is “an absolute gift.”
I wouldn’t be surprised if $TAO / $USDT makes a strong run back to its ATH of $767.@opentensor is arguably the best if not, one of the best AI/DePIN project on the market, and prices around $200 are an absolute gift. This could easily be one of the simplest 3X plays this cycle.… pic.twitter.com/jQmQQGpiCt
— Dark Horseman (@Dark__Horseman) September 9, 2024
VIDT Could Enjoy Another Parabolic Rally With Binance Update
VIDT could enjoy another parabolic following the crypto exchange’s update. The altcoin has already surged by over 180% in the last month. This bullish momentum for the coin is largely thanks to its timestamping technology, which has a real-world use case. This technology is known to be used by companies like Airbus and IBM.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, Boluwatife is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Trader Tardigrade has highlighted a similarity between the Dogecoin price action and that witnessed in 2020. The analyst further revealed what happened the last time this pattern formed on the Dogecoin chart and what to expect.
Dogecoin Price Sees Bi-Monthly Rise To 2020 Levels
In an X post, Trader Tardigrade revealed that the Dogecoin price bi-monthly RSI (Relative Strength Index) has risen to levels last seen in 2020. The analyst further noted this was happening right before the massive bull run. In line with this, he predicts that the three bi-monthly candles will be huge for Dogecoin.
The analyst’s accompanying chart showed that massive giant candles followed when the Dogecoin price RSI rose to these levels in 2020. This eventually paved the way for Dogecoin to reach its current all-time high (ATH) of $0.73. Interestingly, Trader Tardigrade’s chart showed that the Dogecoin price could rise to as high as $44 this time around.
Such a parabolic move will be possible if the Dogecoin price replicates its gain of over 26,000% in the 2021 bul run. Alongside Trader Tardigrade, some other crypto analysts have also offered ultra-bullish predictions for the Dogecoin price this week.
Crypto analyst Ali Martinez mentioned that the Dogecoin price could rise to as high as $23 in this market cycle. He explained that this could happen if DOGE were to rally to the 1.1618 or even 2.272 Fibonacci levels. The analyst also suggested that the world’s richest man, Elon Musk, could contribute to this price rally.
Crypto analyst Olivier also predicted that the Dogecoin price could rise to as high as $32 in this bull run. The analyst is confident that this parabolic rally could happen since there are predictions that the Bitcoin price can rise to $1 million.
DOGE’s Growth Potential In Comparison To Bitcoin
Crypto analyst Master Kenobi recently analyzed Dogecoin’s price growth potential in comparison to Bitcoin. In an X post, the analyst noted that Bitcoin has already achieved a 5x from the market bottom, while Dogecoin has only managed a 4x so far. He further noted that BTC’s market cap is $1.5 trillion, while DOGE’s is $29 billion, which is a 51x difference between these market caps.
Having made these points, Master Kenobi highlighted the Dogecoin price growth potential. He claimed that Dogecoin’s market cap could increase 10x from this point and rise to $290 billion, which will put DOGE’s price at $2. Meanwhile, he predicts that the Bitcoin price would only 2x from this point, rise to $150,000, and attain a market cap of $3 trillion.
At the time of writing, the Dogecoin price is trading at around $0.2, up over 3% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
Crypto analyst Dark Defender has stated that the XRP price will flip the Ethereum price in this market cycle in terms of market cap. He outlined reasons why this is possible and went on to declare that XRP could take over its crown from Bitcoin.
Why The XRP Price Can Flip The Ethereum Price
In an X post, Dark Defender outlined five reasons why the XRP price can flip the Ethereum price. First, he cited Judge Analisa Torres’ ruling that XRP is not a security in itself, which he believes is a huge positive for the coin.
Secondly, he alluded to the numerous developments that Ripple has secured. While he didn’t mention these developments, this could include recent developments such as the crypto firm gaining the DFSA approval to expand its payment services to the UAE.
Dark Defender further alluded to Central Bank Digital Currencies (CBDCs) and upcoming currencies such as the RLUSD stablecoin, which is another reason he is confident that the XRP price can flip the Ethereum price. A recent development also indicates that Ripple is eyeing a potential Dirham-backed stablecoin launch in the UAE.
Lastly, the analyst mentioned that the US is set to become a crypto-friendly environment under pro-crypto President-elect Donald Trump. Despite these reasons, XRP will flipping Ethereum will be a huge task.
Ethereum is currently the second-largest crypto with a market cap of $365 billion, while XRP is the seventh-largest crypto with a market cap of $31 billion. However, it is worth mentioning that XRP was the second-largest crypto ten years ago, just behind Bitcoin.
Time To Also Dominate Bitcoin
Dark Defender also indicated that the XRP price could challenge Bitcoin’s dominance for the reasons he mentioned. He remarked that XRP will take over its crown from BTC by being the only crypto asset with regulatory clarity.
However, Bitcoin’s non-security status has never really been in doubt. The US Securities and Exchange Commission (SEC) Chair Gary Gensler has admitted that the flagship crypto isn’t a security. This is also why the Commission didn’t object to issuers filing S-1 forms for the Bitcoin ETFs before their subsequent approval.
Meanwhile, the analyst also suggested that a bull run is set to soon begin for the XRP price. Specifically, he said this XRP bull run will begin on November 24. He is confident this will happen because he claims that Bitcoin Dominance has had its reversal in the monthly RSI as it did in January 2021. When this happened in 2021, XRP rallied from $0.170 to $1.966.
Crypto analyst Mikybull Crypto also provided a bullish outlook for the XRP price. In an X post, he stated that a huge acceleration is coming. He cited the coin’s performance after the past election cycles, and a massive rally usually follows. The accompanying chart he shared showed that $19 was a possible target.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
In a recent interview, Anatoly Yakovenko, Solana’s founder, spoke to the unique position this ecosystem holds in the blockchain landscape, using its implementation against L2 scaling solutions and other Layer 1 blockchain systems.
Previously he raised questions about the vitality of the Ethereum ecosystem without the contributions from Base, a Layer 2 solution. This query comes amidst observing the metrics of growth shown by Base, particularly in user activities and transaction volumes.
Solana’s Anatoly Yakovenko: L1 Scalability Key, Not L2 Solutions
Anatoly Yakovenko, Solana’s founder, highlighted the unique position of the Solana ecosystem within the blockchain landscape. He contrasted its approach with both Layer 2 scaling solutions and other Layer 1 blockchains.
The podcast he was guest at was a sort of a follow up to his last statements where he questioned the resilience of the Ethereum ecosystem without contributions from Base, a Layer 2 solution, particularly in light of Base’s impressive growth metrics in user activity and transaction volumes.
“Its scalability, infrastructural focus, and transaction efficiency, in my opinion, are three things Solana has on its side,” Yakovenko detailed. Of course, he is also aware of Solana’s challenges in a world where blockchain technology would evolve and platforms would develop further.
Anatoly Yakovenko emphasized Solana’s unique architecture, designed to democratize access to transaction validation. Unlike traditional finance, Solana allows anyone to set up a validator and submit transactions directly, bypassing intermediaries. This level of decentralization, Yakovenko noted, is hard for traditional finance to replicate. While this functionality exists, he acknowledged that scaling it effectively remains a challenge.
New validators face significant barriers, including finding suitable peers for transaction ordering. Amassing enough stake to gain influence on the network is also difficult. Yakovenko believes that Solana’s future depends on regular network optimization. He envisions technical improvements that include higher bandwidth, lower latency, and multiple concurrent leaders per transaction slot. These changes, he suggests, could reduce economic barriers and make it easier for new validators to compete.
By reducing bottlenecks, Solana could foster a healthier, more competitive ecosystem. This would ultimately make the network more decentralized. Yakovenko views Solana’s path to decentralization as an engineering problem, requiring iterative optimizations. Through these efforts, Solana aims to achieve fair and efficient transaction processing.
Highlighting Solana’s Edge Over Ethereum and L2s
Anatoly Yakovenko compared Solana to Ethereum and various L2 solutions, emphasizing the trade-offs between Layer 1 and Layer 2. L2 solutions often use centralized sequencers for low-latency transaction ordering. However, Yakovenko noted that these can lead to the same congestion issues seen on Layer 1 chains. While L2s are often seen as short-term fixes for congestion, they face scaling bottlenecks when multiple applications or markets use them.
He highlighted that Solana’s strategy focuses on building a robust Layer 1 chain capable of supporting high throughput without needing L2 solutions. Another key factor for Yakovenko is synchronous composability, where multiple applications can interact in real-time on a single chain. He believes this is essential for DeFi. In his view, monolithic chains or application-specific L2s can’t support this level of composability, limiting their scalability.
According to Anatoly Yakovenko, the last competitive edge for Solana lies precisely in this regard: its total commitment to synchronous composability at scale-what makes it different from Ethereum and L2 chains. Still, some experts, such as Peter Brandt said that Solana is already breaking into new highs while Ethereum is struggling against an overhead resistance.
The overriding message from Yakovenko is that where Solana has the edge is in execution. While Ethereum is expanding via L2s, the development of Solana remains focused on making its L1 perfect. He admits that one day, a blockchain will come up with features similar to those of Solana and offer faster iterations, but for now, the pace at which Solana is improving places it well ahead of the competition.
For Anatoly Yakovenko, this core of Solana’s potential rests on ironing out its infrastructure to support more equitable, open transaction processing for a truly decentralized future. He says this positions Solana as one of the leading blockchains for years to come.
Teuta Franjkovic
Teuta is a seasoned writer and editor with over 15 years of experience in macroeconomics, technology, and the cryptocurrency and blockchain industries.
Starting her career in 2005 as a lifestyle writer for Cosmopolitan, she expanded into covering business and economy for several esteemed publications like Forbes and Bloomberg.
Influenced by figures like Don and Alex Tapscott and Laura Shin, Teuta embraced the blockchain revolution, believing crypto to be one of humanity’s most crucial inventions.
Her fintech involvement began in 2014, focusing on crypto, blockchain, NFTs, and Web3. Known for her excellent teamwork and communication skills, Teuta holds a double MA in Political Science and Law.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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