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Solana is Continuing to Surge
On Thursday, the Solana price surged by double digits and its total traded volume reached $1.2 billion (24 hours), surpassing Ethereum's $1.1 billion - the first time Solana's total traded volume exceeded that of Ethereum.
Solana has increased more than 38% in the last week, more than 62% over the last month, and more than 690% over the last year and currently making a massive comeback after the decline in the price of Solana for the last 1.5 years after the drop in interest in the NFT market.
Solana is designed to handle thousands of transactions per second, built specifically for the development of Dapps, and has a low transaction fee, making it a strong competitor to Ethereum.
Memecoins which were traditionally Ethereum (ERC-20) tokens, have shifted and we are seeing a larger migration of meme coins to Solana, which is one of the primary reasons we have seen the significant price increase of Solana. In addition to increased investor confidence in the market, recent increases in the price of Bitcoin, and more liquidity in the market.
The biggest gainer on the Solan blockchain is the meme coin BONK, with many other meme coins on the Solana blockchain, which has resulted in a significant increase in the volume and price of Solona. This also suggests, that this may be the beginning of another meme coin season (on the Solana Blockchain), which is typically a good sign for the market as it suggests investors believe the market is bullish and are willing to exercise more risky trades.
How to Find the Next 100x Altcoin?
As we approach the run-up phase of the market, a time when +100x gains are realistically possible, I thought it would be a good time to dig into the methodology and approach for finding the next big +100x altcoin.
+100x Altcoins aren't without their precedent; historical trends have shown that significant market upswings often follow Bitcoin's halving events and its during this part of the cycle that many cryptocurrency investors have historically recorded their most substantial profits.
For those aiming to identify the next +100x altcoin, consider this framework:
1 - Identify a Trending Sector:
Focus on sectors gaining momentum within the crypto space during the current cycle. Emerging sectors like Play-to-Earn Gaming, tokenization of Real-World Assets, AI, or Decentralized Science (DeSci) are examples of niche sectors that could fuel the next bull run.
2- Mass Appeal and Marketability:
The project should resonate on a global scale and have the capacity to generate substantial hype. This means a clear, compelling value proposition that addresses a wide and global audience's needs or interests.
3- Doxed and Credible Team:
Generally, the most successful long-term projects are those with a team that is doxed and all members of the team known and have a verifiable track record. While I am a big proponent of Anonymity, when it comes to the development team, Anonymity can be a red flag in projects aiming for longevity and trust.
4 - Early Stage Opportunity:
Look for projects in their first cycle, preferably before they've reached their price peak. These projects often present the most significant upside potential as they are yet to be fully discovered by the broader market.
5- Technical Analysis - Bullish Chart Patterns:
The price movement should exhibit bullish momentum, characterized by a pattern of higher highs and higher lows. This indicates a strong uptrend and positive market sentiment.
Technical Foundation:
The project should be either a robust Layer-1 blockchain or built upon a solid existing blockchain. This ensures that the foundation is secure, scalable, and reliable.
Community and Communication:
A vibrant, active community across platforms like Twitter, Telegram, and Discord can be indicative of a healthy, engaged user base. Additionally, look for projects that maintain regular, transparent communication and updates.
Visibility and Accessibility:
Projects listed on prominent tracking websites like CoinMarketCap or CoinGecko are generally more accessible and scrutinized, potentially leading to a broader investor base.
Professional Online Presence:
Lastly, a well-designed, informative website acts as the project's front door. It should professionally present the project's vision, team, roadmap, and technical details.
These are just some of the characteristics we look at when we are looking to invest in a project. If you would like to learn more about our methodology and how we apply our framework, we go into detail in this in-depth article.
Finding the next +100x altcoin isn't easy, but it is possible. Alternatively, you can always become a member of our newsletter and follow what we purchase.
Join Us - As We Accumulate
Now is still an excellent time to get into the market while prices are still relatively low. If you want to know what we are buying, you are more than welcome to join us as we share our monthly Altcoin picks in anticipation of the upcoming bull run - You just need to become a member.
Richard.
Top 100 Trending Altcoins:
The crypto market is full of green again this week.
Today's Crypto Fear & Greed Index:
Today's Crypto Fear and Greed Index = Greed –> Increased to 74 (from 70).
Bitcoin & Ethereum Price Movement
Bitcoin increased 3.56% in the last week, currently trading at $43,703. In the previous 90 days, Bitcoin has increased by 38.9%.
Ethereum increased 2.9% in the last week, currently trading at $2,317. In the previous 90 days, Ethereum has increased by 35.8%.
Global cryptocurrency market capitalization has increased to $1.67T (from $1.59T last week).
Top 100 Gainers - Last 7 Days
Over the last 7 days, the biggest gainers (within the top 100):
Optimism (OP) +56% - Ranked #30
Optimism (OP) is a layer 2 scaling solution for Ethereum designed to enhance scalability and cost-effectiveness using Optimistic Rollups. These rollups batch multiple transactions into one, reducing fees and increasing throughput while assuming transactions are valid by default. Optimism maintains close compatibility with Ethereum, allowing easy deployment of existing smart contracts and offering lower fees and faster transactions.
The OP token serves various purposes within the ecosystem, including governance. Optimism is community-driven and emphasizes security, leveraging Ethereum's security while providing additional safeguards. It aims to make Ethereum more accessible and efficient for users and developers.
NEAR PROTOCOL (NEAR) +46% - Ranked #25
NEAR Protocol (NEAR) is a decentralized application platform that aims to enhance scalability and user experience in the blockchain space. It utilizes sharding technology, specifically its unique Nightshade approach, to process transactions efficiently and increase throughput.
The native NEAR token is used for transaction fees, staking, and governance. The platform is designed to be secure and decentralized, leveraging a Proof-of-Stake consensus mechanism and aiming for interoperability with other blockchains. NEAR's goal is to simplify the development and use of dApps, fostering a more accessible and interconnected ecosystem.
Sei (SEI) +44% - Ranked #81
Sei (SEI) is a blockchain designed specifically for trading and DeFi applications, featuring a native order-book model integrated directly into the blockchain. This specialization aims to optimize trading experiences with high performance, low latency, and scalability tailored for exchanges and financial platforms.
Sei focuses on providing a developer-friendly environment with tools and features suited for building DeFi applications. The SEI token likely plays a role in transaction fees, staking, and governance within its ecosystem. With a commitment to community and governance, Sei is dedicated to evolving as a leading infrastructure for the DeFi sector, addressing the unique needs of traders and financial services in the blockchain space.
Axelar (AXL) +36% - Ranked #96
Axelar (AXL) is a blockchain platform focused on enabling secure and efficient cross-chain communication. It is designed to facilitate interoperability among different blockchains, allowing for seamless asset transfers and information sharing. The decentralized network uses the AXL token for transaction fees, governance, and incentives.
Axelar provides developer tools for easy integration of cross-chain capabilities and prioritizes strong security measures to protect its network. By addressing interoperability challenges, Axelar aims to enhance the functionality and collaborative potential of the blockchain ecosystem, making it more accessible and efficient for users and developers.
Biggest Micro-Cap Gainers in the last 30 days
We review and analyze small and micro market cap cryptos every week looking for the next low-cap gem. These are the best-performing (quality) micro-cap projects over the last 30 days:
Best Performing Quality Micro Caps (Last 30 days):
- CREO +1,261% - NFT Gaming Platform (Nano-Cap)
- ELAND +1,169% - Web3 for Real Estate (Nano-Cap)
- HBB +971% - Liquidity Protocol for Solana (Micro-Cap)
- D3D +896% - Social Network + Earn (Micro-Cap)
- CATHEON +965% - Web3 Gaming Ecosystem (Nano-Cap)
Monthly Altcoin Pick:
In just over a week, we will be releasing our next Altcoin Pick, If you would like access to this and future monthly Altcoin picks, consider becoming a member - It's only the price of a few cups of coffee a month.
Altcoin picks are emailed to members as soon as they are published. If you are wondering how we choose our monthly Altcoin Picks - this is the methodology we use.
Our Altcoin Picks for the prior months can be found here.
Thanks and appreciation to all our members!
Until the next report,
Richard.
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