Altcoin
Is Solana Price Set to Reach $600 in This Bull Market?
Solana has popularly become the go-to choice for several venture capitalists and hedge funds, with most believing it’s price could reach $600 in this bull market cycle.
In a recent Crypto Investment Manager Survey by MV Global, 76 venture allocators were asked, and almost a third of those who participated believed SOL could reach that mark.
Solana’s Bullish Run Continues: $600 Target in Sight
The last seven days have been a field day for gains within the top assets in the cryptocurrency market, especially Solana. Some coins surged past Bitcoin’s gains in the past week. Solana price is doing particulary great this week, up 34.7%, which is way higher than Bitcoin’s 7-day increase of 28.1%.
The cryptocurrency market experienced a massive inflow following Donald Trump’s victory in the 47th presidential election and also on crypto prediction markets. As Bitcoin price hit a new high of $88,933, most major altcoins recorded a renewed recovery. Thus, the Solana price recorded a sharp surge as well.
At the current price of $210.65, the token seems still well-positioned to go further upwards. A recent MV Global’s Q4 2024 Crypto Investment Manager Survey has placed the coin at a $600 value during this bull cycle.
The MV Global survey conducted responses from 76 prominent venture capital and hedge fund managers. The results of this survey have identified a few trends in the crypto market. Interestingly, 33% think Solana price will exceed $600 during this bull cycle, while another 23.2% say $600 is the limit. The rest of the participants believe that the SOL price will remain between $150-$300.
The token has been the best performer over the past 30 days, up 49.2%, against Bitcoin’s +40.6% and Ethereum’s +37.7%. According to the survey, this outperformance will continue because it has greater exposure to emerging sectors, including DePIN and meme coins.
A Closer Look at the Factors Driving the Surge
The study shows strong confidence in Solana’s potential. Seventy-five percent believe it could outperform crypto ETFs. Bitcoin dominates headlines, with predictions ranging from $100,000 to $150,000 this cycle. However, attention is shifting to altcoins like SOL and ETH. Investors are focusing on these assets as they rise in emerging sectors.
The survey suggests that the altcoin season will not be extensive, and the funds target few tokens. 43% of the participants showed confidence in tokens about AI. 14.3% of all participants liked DePIN tokens.
Meanwhile, 27.5% of participants were skeptical about gaming tokens’ growth. 24.6% showed no interest in Layer-2 tokens.
Most investors didn’t want to increase exposure to meme coins. Only 43% held any, and few invested over $10,000. The MV Global survey shows optimism in sectors like AI. However, it sounds cautious about others. The market is expected to peak in 2025.
Is SOL the Next Big Thing? Analysts Say Yes
These projections are relatively conservative compared to global investment bank Standard Chartered’s target of $200,000 for Bitcoin by the end of 2025 and VanEck’s more optimistic forecast of $300,000.
In the case of Ethereum, the predictions are more mixed; one-third think its peak will be between $3,000 and $5,000, while another third believe it would go as high as $5,000 to $7,000. Despite the different outlooks,ETH has solid institutional support and a core position in DeFi.
In conclusion, Bitcoin’s bullish outlook can be favored by a new US president’s liquidity growth from fiscal policies, but this will be after 16 to 24 months in the absence of time and quantum of inflow. The volatility in the broader crypto market will persist as investors reset expectations, with many expecting the market to peak in 2025.
As this cycle plays out, any growth from Solana will be closely tracked. A consensus is slowly building, and a trajectory of this kind will finally nail its position among the leading cryptocurrencies in the years to come.
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.
Altcoin
Binance Launchpool To List Usual (USUAL) With Pre-Market Trading
Binance Launchpool has recently announced the listing of Usual (USUAL) on its platform, sparking market optimism. The launch of the listing will offer users an opportunity to farm the tokens. The exchange will begin the farming process, allowing users to lock their BNB and FDUSD to earn USUAL rewards.
Binance Launchpool to Feature USUAL
Binance Launchpool has announced that it will list USUAL starting November 14. This announcement marks the launch of Usual, a decentralized fiat-backed stablecoin, with pre-market trading to begin on November 19. The exchange users can lock their BNB and FDUSD to farm USUAL tokens, receiving rewards over four days.
The USUAL token will be paired with USDT for pre-market trading, allowing users to trade the token once the pair goes live. The farming of USUAL tokens will begin as users participate in Binance’s Launchpool offering.
Each user will have a maximum holding limit of 40,000 USUAL tokens, with a total token supply of 4 billion USUAL. Of that, 300 million tokens 7.5% will be allocated for Launchpool rewards. This initiative is a significant step in expanding the exchange’s role in the decentralized finance (DeFi) space.
However, users from certain countries, such as the United States, Canada, Japan, and North Korea, will not be eligible to participate. Binance has stated that KYC verification is required for those looking to farm USUAL tokens.
BNB Ecosystem And Market Performance
The listing of Usual on Binance Launchpool marks a new chapter in the DeFi space, offering a decentralized fiat-backed stablecoin. This launch comes at a time when meme tokens like ACT and PNUT have witnessed impressive price surges after their listings, indicating strong market interest in new projects.
BNB Price is currently trading at $634, with a 24-hour low of $605 and a high of $659. The coin has seen a 5% increase in the past 24 hours, a 6.8% rise over the last week, and a 7.6% gain in the last month.Its 24-hour trading volume stands at $3.7 billion, demonstrating robust demand.
The global crypto market is experiencing a bullish trend. Additionally, the recent US election victory by Donald Trump has sparked optimism among Bitcoin supporters. Binance founder CZ’s new initiative, Giggle Academy, is also gaining attention. The project aims to educate users in key target countries.
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.
Altcoin
Binance Expands Offerings For ACT, PNUT, NEIRO Sparking Optimism, What’s Next?
In an effort to further uplift market sentiment, leading crypto exchange Binance announced on Thursday that it is expanding offerings for three tokens. The crypto exchange revealed that it is listing new pairs for The AI Prophecy (ACT), Peanut The Squirrel (PNUT), and First NEIRO on Ethereum tokens, sparking investor curiosity. Meanwhile, the listed coins’ prices soared 3%-32%, signaling that the broader market reacted positively to the listings announcement.
Binance Lists ACT, PNUT, & NEIRO Echoing Market Optimism
According to an official Binance announcement dated November 14, the crypto exchange is expanding offerings for the aforementioned tokens starting November 15 at 08:00 UTC. Per the listing announcement, the exchange is adding The AI Prophecy in FDUSD and USDC trading pairs. Further, the crypto exchange is also adding NEIRO in the USDC trading pair.
Simultaneously, the crypto exchange’s announcement revealed that Peanut The Squirrel will be added to the spot trading platform in BTC, FDUSD, and USDC trading pairs on the same date and time. Also, the leading crypto exchange highlighted that it will enable spot Algo Orders for ACT in FDUSD and USDC pairs, NEIRO/USDC, and PNUT in BTC, FDUSD, and USDC pairs. Overall, the announcement reverberated substantial market optimism over the listed coins’ price movement amid a bullish crypto market.
How’s The Current Market Sentiment For Listed Coins?
At the time of reporting, NEIRO price soared 3% over the past day and is now trading at $0.002479. The coin’s intraday low and high were $0.002285 and $0.002749, respectively.
Simultaneously, The AI Prophecy price gained 9% intraday to rest at $0.7519. Its 24-hour low and peak were $0.542 and $0.942, respectively.
Additionally, Peanut The Squirrel price witnessed gains worth 32% over the past day to rest at $1.88. The token’s intraday low and high were $1.28 and $2.47, respectively.
Overall, the bullish price trajectories fall in line with Binance’s listing announcement. Notably, CoinGape Media previously reported ACT price to have soared 1300% and PNUT 250% in light of the same exchange’s previous spot listings and Elon Musk’s X post, which has fueled market speculation.
Meanwhile, NEIRO price witnessed a whopping 115% surge with its listing on major exchanges. Altogether, these past chronicles underscore the listed tokens’ potential to offer further gains in the market.
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.
Altcoin
Litecoin Says It “Now Identify As a Memecoin”, LTC Price Spikes 15%
Litecoin is likely showing interest in joining the meme coin sector following the recent market frenzy, as per a post that says “I now identify as a memecoin” due to current market condition. Dogecoin reacted and welcomed the move and asked fans to suggest a mascot. Traders responded immediately to the posts, triggering a 15% upside move in LTC price.
Litecoin Now Joining the Meme Coin Space?
Litecoin, a decentralized peer-to-peer crypto inspired by Bitcoin, triggered a massive discussion on the X platform on November 14. The post said, “Due to current market conditions I now identify as a memecoin.”
This sparked discussion and speculation in the crypto community, with many suggesting how the transition will take effect. Other top meme coins such as Dogecoin welcomed this proposal by Litecoin. It recommends promoting Litecoin’s move with a “chibi mascot.”
Hey fam, @litecoin now identify as a memecoin, so can we help them out making a few LTC memes to get them started? Some kind of chibi mascot I think 🤔 https://t.co/t8OiCPDNY6
— Dogecoin (@dogecoin) November 14, 2024
One of the users took a jibe stating, “You were always a meme coin”. Litecoin responded that it a “lifestyle choice at the moment. Probably just a phase.” Also, Litecoin mocked Ethereum and Solana as the crypto community hopes these projects can also tweet something like this.
Will LTC Price Breach $100 Soon?
The entire meme coin sector has turned into a frenzy following PEPE Coin listing on Coinbase, Robinhood, and Upbit exchanges on Tuesday. Along with the 83% gains in PEPE price in the last 24 hours, Dogecoin (DOGE), dogwifthat (WIF), and Bonk (BONK) have also rallied another 25% each. Well, looking at this massive crowd attention, Litecoin seems tempted to join the meme coin camp.
LTC price jumped 15% in the past 24 hours, with the price currently trading at $82.25. The 24-hour low and high are $72.70 and $84.35, respectively. Furthermore, the trading volume has increased by 33% in the last 24 hours, indicating a rise in interest among traders.
As per CoinGape analysis, Litecoin price can jump to hit $100 with golden cross pattern formation and the meme coin hype.
As per the data from IntoTheBlock, the balance held by short-term LTC holders has surged by 31% over the past month, signaling a notable trend shift. Such accumulation by short-term holders often aligns with market bottoms or precedes significant price rallies.
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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