Market analyst Altcoin Buzz has named Solana as a promising token with measurable growth potential.
The analyst also identified Litecoin and Fetch.ai as two other assets with growth potential.

Altcoin Buzz, a prominent figure in the crypto space recently analyzed in a YouTube video, how Solana (SOL) alongside two other altcoins are showing signs of potential upward momentum in the coming days.

Solana’s Recent Price Movement

Solana, a blockchain platform designed for Decentralized Applications (dApps) has been garnering attention lately. Known for its lightning-fast transactions and low fees, Solana has positioned itself as a strong competitor to Ethereum (ETH) and other major blockchain platforms.

Between March 5th and 7th, SOL skyrocketed by an astounding 195%, reaching a peak of $150, the highest price since January 2022. This surge gained further traction following reports from Crypto News Flash of Pantera Capital, a major investment firm, expressing interest in purchasing $250 million worth of Solana from the insolvent company, FTX Derivatives Exchange. 

As of the latest available data from Marketcap, SOL is trading at $148.19, demonstrating a 2.7% increase in the past 24 hours. It has a trading volume of $5 billion, and market capitalization pegged at $65.7 billion.

Some skeptics may question whether Solana’s rise is sustainable, but indicators suggest otherwise. While Pantera Capital’s involvement certainly contributed to the surge, the excitement surrounding Solana’s SPL meme coins has also fueled interest and investment in Solana-based tokens. These meme coins, characterized by their humorous themes inspired by celebrities and pop culture, have captured the imagination of traders, further propelling Solana’s upward movement.

Additionally, anticipation is mounting for forthcoming giveaways of Solana tokens, such as Wormhole, Camino Parcel, and Magnify. Despite facing certain challenges and concerns, Solana continues to demonstrate resilience, with an increasing number of users embracing it for trading and other purposes.

Litecoin’s Remarkable Rally

However, Solana isn’t the only altcoin making waves in the market. Altcoin Buzz highlighted that Litecoin, another prominent digital currency, is carving out a niche for itself as a preferred payment option on BitPay, a leading player in the crypto payment space. This adoption underlies Litecoin’s utility and efficacy in facilitating transactions, distinguishing it from other cryptocurrencies in the market.

As previously reported by Crypto News Flash, LTC outperformed six other cryptocurrencies to claim the top place. The report stated that MATIC, BCH, and USDT appeared as the lowest three, with payment counts of 5.06%, 5.59%, and 3.69%, respectively. Meanwhile, ETH and DOGE were immediately above the aforementioned altcoins, with payment counts of 9.05% and 6.8%, respectively.

Currently, LTC is trading at $96.14, representing an increase of 10.73% in the past day, with its market capitalization standing at $7 billion.

Fetch.ai (FET)

Altcoin Buzz further emphasized that Fetch.ai’s token, FET, has also been on a remarkable upward course, experiencing a 360% surge since 2023. This growth can be attributed to strategic partnerships and investments aimed at enhancing the platform’s technology. 

For instance, Fetch.ai’s collaboration with Bosch, a renowned engineering conglomerate, aims to integrate Artificial Intelligence (AI) and web technologies into various industries, promising innovative solutions and opportunities.

At the time of writing, FET is trading at $2.74, demonstrating a 1.2% jump over the past 24 hours, with its trading volume standing at $530 million.

 

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Filed under: Bitcoin - @ March 12, 2024 3:25 am