As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous cycles and trends that have shaped the global economy. The recent price ATHs set by Bitcoin (BTC) and Binance Coin (BNB) serve as a testament to the growing maturity and acceptance of cryptocurrencies.
In this ongoing crypto cycle, Bitcoin (BTC) and Binance Coin (BNB) have established new all-time high prices, leading some experts to predict that other digital currencies are likely to follow these trailblazers shortly. These insights were recently expressed by a community analyst at CryptoQuant, who goes by the name Maartunn.
Solana (SOL), Toncoin (TON) target ATHs, expert says
Solana (SOL) and Toncoin (TON), two major altcoins and key cryptocurrencies of eponymous L1 blockchains, might be the next cryptos to reach price ATHs. The Price Drawdown Heatmap, a chart that displays how far a cryptocurrency is from reaching the price record, has highlighted SOL and TON amid all altcoins.
In his latest CryptoQuant QuickTake post, the community analyst Maartunn provided these estimations.
The expert points out that the price of Solana (SOL) has dipped by just 8% compared to its all-time high, whereas Toncoin (TON) is currently 15% lower than its highest point.
On September 9, 2021, Solana’s (SOL) value peaked at an all-time high of $216. Similarly, Toncoin (TON) set its highest price point on June 15, 2024, with the price soaring above $6.82.
The excitement surrounding TON escalated due to the widespread acceptance of Notcoin (NOT), Hamster Combat (HAMSTER), and several other decentralized apps on TON, along with Tether’s choice to introduce USDT on their blockchain.
Solana (SOL) outperforms competitor by DeFi metrics
crypto specialist Maartunn emphasized that both Solana (SOL) and Toncoin (TON) show robust foundations, characterized by energetic development crews and bustling user communities.
In contrast to their bullish market performance, the amount of DeFi activity for both cryptocurrencies has taken distinct paths. Notably, Solana’s (SOL) current Total Value Locked (TVL), approximately $9 billion, is nearly on par with its all-time high (ATH) reached in 2021.
Contrastingly, the total value locked (TVL) of Toncoin (TON) hit its highest point during the summer. However, since July, it has decreased significantly, falling from approximately $769 million to around $387 million in equivalent terms.
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2024-12-09 19:18