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Cryptocurrency News Articles

The Ongoing Bull Market Presents an Opportunity for Significant Upside in Many Altcoins

Dec 03, 2024 at 06:50 pm

As mature projects like Render and Cardano try to reach their former heights, newer projects like Sui target new peaks. Layer-2 solutions like PlutoChain and ShibaGalaxy are among the most promising young projects.

The Ongoing Bull Market Presents an Opportunity for Significant Upside in Many Altcoins

As the bull market continues, many altcoins are poised for significant gains. Established projects like Render and Cardano are aiming to reach their former highs, while newer ventures like Sui are targeting new peaks.

Among the most promising young projects are Layer-2 solutions like PlutoChain and ShibaGalaxy. These networks can help overcome the scalability challenges faced by Bitcoin and Ethereum, opening up new possibilities for developers and users.

PlutoChain (PLUTO) Brings Smart Contracts to Bitcoin With Its Layer-2 Technology

As a Layer-2 solution, PlutoChain can integrate smart contract capabilities into the Bitcoin network. This enables developers to create DeFi, NFT, gaming, and other applications on the world's leading blockchain, as well as launch new tokens.

PlutoChain's EVM (Ethereum Virtual Machine) compatibility also allows for the seamless export of Ethereum-based applications to Bitcoin. This could transform Bitcoin from a simple store of value into a versatile platform.

A recent SolidProof audit identified no critical vulnerabilities in the project’s codebase, making it a particularly attractive option for applications that prioritize security.

PlutoChain's transparent governance model ensures that token holders have a say in the project's development. This community-driven approach helps align the project's direction with the collective vision of its users.

The Bitcoin DeFi market remains relatively nascent, presenting an opportunity for PlutoChain to pioneer this emerging sector.

ShibaGalaxy (SHIBG) Rivals Dogecoin and Shiba Inu With Its Innovative Layer-2 Solution

The meme coin sector continues to evolve rapidly, with hundreds of projects launching each week. However, these new projects often face challenges like poor scalability and high fees because they operate on Layer-1 networks like Ethereum.

ShibaGalaxy stands out among other dog-themed projects with its practical utility: this Layer-2 solution facilitates fast and low-cost transactions between Ethereum and the Shiba Galaxy Chain. Early adopters can also earn rewards for building on the network and staking SHIBG tokens.

Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.

Through the anticipated Shiba Galaxy Builders Collective program, blockchain developers could not only receive grants but also connect with other innovators to create a comprehensive dApp ecosystem.

To ensure the reliability of its network, the project prioritizes scalability and security, as evidenced by a recent SolidProof audit.

The project is committed to delivering value to its community through regular product improvements and token holder incentives.

Cardano (ADA) Surges to New Heights, Securing #3 Spot in Blockchain Rating

ADA's price crossed the $1 mark in November, reaching its highest level since April 2022. This surge may be attributed to the anticipation of an ADA ETF and ecosystem upgrades, including a potential collaboration with Ripple.

In a recent assessment, Weiss Crypto assigned Cardano an A- rating. This puts Cardano on par with Bitcoin and Ethereum in terms of community engagement, technology, and performance.

Cardano's network experienced substantial growth in 2024, boasting 1.3 million token holders and 1,370+ projects as of September. Notably, whales, particularly those holding between $1 million and $10 million in ADA, showed strong interest in the project's future.

Render (RENDER) Aims for $12 in 2025 as It Continues Its Bullish Momentum

Render aims to democratize access to GPU resources for tasks like AI model training and 3D rendering. The RENDER token serves as the primary payment method within this peer-to-peer network.

In 2024, RENDER shifted from the Ethereum blockchain to Solana, enabling the network to handle a higher volume of transactions at lower costs.

RENDER, like many other altcoins, experienced a sharp decline in 2022-2023 due to the broader bear market. However, it reached a new all-time high of $13.50 in spring 2024.

Although the price has since corrected to $8.81, it still represents a 150.18% year-over-year increase. Industry experts predict a likely return to the $12 level if the current bullish trend continues.

Sui (SUI) Surges 5x in Just a  Year, Poised to Surpass $1 Billion TVL

Sui is a Layer-1 network that utilizes an object-centric data model to enhance scalability. Within its first year, the SUI token achieved a market capitalization of $9.93 billion and secured the 18th position among all tokens.

The SUI token has surged 450.55% year-over-year and now trades at $3.40. Despite a 13.68% decline from its all-time high of $3.93, key indicators suggest a long-term upward trend. The growing adoption of the Sui

News source:techpoint.africa

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Other articles published on Dec 04, 2024