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Cryptocurrency News Articles

Solana (SOL), Ripple's XRP, Ethereum (ETH), and JetBolt (JBOLT) Are Among the Altcoins Drawing Significant Attention as the Next Bull Run Approaches

Nov 15, 2024 at 10:00 pm

Solana is electrifying the market, with decentralized exchanges processing a record $26.1 billion in weekly volume. XRP has soared 51% this month, boosted by its Robinhood relisting and renewed hopes for regulatory clarity. Ethereum continues to attract whales as Layer-2 adoption strengthens its appeal.

Solana (SOL), Ripple's XRP, Ethereum (ETH), and JetBolt (JBOLT) Are Among the Altcoins Drawing Significant Attention as the Next Bull Run Approaches

Solana (SOL), Ripple’s XRP, Ethereum (ETH), and JetBolt (JBOLT) are among the altcoins garnering significant attention as the next bull run approaches. Here's a closer look at their recent trajectories and how they might fare in the upcoming market rally.

Solana's Price Surges Amidst DEX Boom

Solana's price at press time is $209.18, up 35.29% in the past month. The token's surging activity in its ecosystem is a key driver behind this performance.

Solana’s decentralized exchange (DEX) weekly volumes hit a record $26.1 billion, far outpacing Ethereum’s $13 billion. Moreover, the token's total value locked (TVL) has climbed to $7.9 billion, indicating robust user engagement.

Solana is in a corrective phase, with key support levels ranging between $186 and $195. Analysts suggest that a breakout above $223 could propel SOL toward $260 or even $320.

However, the cryptocurrency's volatility might pose concerns for some traders.

XRP's Bullish Momentum Continues

XRP has surged 51.66% this month, currently trading at $0.8224. The rally gained momentum following its November 13 listing on Robinhood Crypto, a pivotal moment for XRP as it coincides with the current broader shift in market sentiment.

The Robinhood relisting is more than a price catalyst—it reflects a shift toward a more crypto-friendly regulatory stance in the US. Market speculation suggests potential long-term benefits for XRP and other altcoins, particularly in light of incoming U.S. President Trump’s pledge to replace the current SEC Chair, Gary Gensler.

In the last 48 hours, traders moved 45 million XRP from exchanges into long-term storage, possibly signaling heightened confidence in XRP's future prospects. Ripple's flagship coin's price broke above the $0.75 mark for the first time in 2024, reaching a peak of $0.76.

Analysts predict further gains if XRP surpasses $1.17, with potential targets at $1.50. Meanwhile, support at $0.66 remains critical to avoid a downturn to $0.59.

Ethereum Still a Cornerstone, But Newer Alts Disrupting Status-Quo

Ethereum has risen by 16.47% this month but faces resistance near $3,500. Whale activity has picked up, with one wallet buying $23 million in ETH recently, potentially signaling long-term accumulation.

Ethereum's price chart over a one-month period. Data sourced from CoinMarketCap.

Ethereum is consolidating in a fourth-wave correction, with critical support at $2,930 and $3,122. If these levels hold, a rally toward $3,500 and $4,790 could follow. Despite slower momentum compared with Solana and XRP, ETH’s Layer-2 adoption and institutional interest continue to remain strong.

Solana, XRP, ETH: Which Altcoin to Buy for Bull Run?

Solana's ecosystem growth and XRP's dynamic trajectory are key highlights in the altcoin market. Ethereum remains a cornerstone of the blockchain world, but newer generations of tokens, like JetBolt, are challenging this status-quo.

JetBolt (JBOLT) is a next-generation altcoin that aims to simplify and enhance the blockchain experience. At the core of its appeal is its zero-gas technology, powered by the Skale Network, which eliminates gas fees entirely. This innovation makes JetBolt particularly appealing for both casual users and those engaging in frequent blockchain transactions.

JetBolt introduces advanced features that cater to the needs of a growing crypto audience. Its AI-powered news aggregator tool provides updates on blockchain stories and market trends, giving holders a simple yet engaging way to stay entertained.

In addition, JetBolt’s staking system allows users to earn rewards through active engagement. This feature adds a layer of interactivity that makes the experience feel more dynamic.

Currently in its presale phase, JetBolt has sold over 56 million tokens, driven by growing interest in its innovative design. The presale also offers exclusive perks, including Alpha Boxes that reward buyers with additional tokens for bulk purchases. With token prices increasing daily during the presale, this early phase has captured significant attention from crypto enthusiasts, giving them the unique opportunity to get involved while the JetBolt project is still in its ground floor stage.

News source:techpoint.africa

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