Altcoins
Sonic Now ‘Golden Standard’ of Layer-2s After Scaling Transactions to 16,000+ per Second, Says Andre Cronje
Published
3 weeks agoon
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The newly rebranded layer-1 blockchain Sonic (S) is being called the “golden standard” of layer-2s (L2s) by Andre Cronje, the project’s co-founder.
Cronje claims on the social media platform X that Sonic, formerly known as Fantom, is the “only actual decentralized stage 3 L2.”
“No fee extraction, all submits 100% to ETH, no ‘centralized value extraction’. Decentralized sequencing. Decentralized bridges.
While the rest of the L2s continue to fake pretend to ‘decentralize’ (why would they when they get millions of fees per year?), we already did it.
Scaled transactions per second to 16,000+ on the L1. Decreased storage by 98% even on archival nodes. Scaled L1 and jumped to the ‘golden standard’ of L2. Not even mentioning FeeM, FeeSub, and Dynamic Fees.”
A South Korean computer scientist launched Fantom (FTM) in 2018. The project aimed to serve as a tool to aggregate smart contracts into decentralized applications (dApps).
Last year, the development team behind the blockchain announced a rebrand to Sonic as a way to improve transaction efficiency.
Investors can trade in their FTM tokens at a 1:1 rate for S tokens, which will have multiple functions within the Sonic ecosystem.
S is trading at $0.453 at time of writing. The 85th-ranked crypto asset by market cap is down nearly 8.5% in the past 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Altcoins
Altcoins Ready For Round 2? Expert Says Altseason ‘Has Begun’
Published
10 hours agoon
February 22, 2025By
admin
As the cycle progresses, many investors are awaiting the long-anticipated Altseason, with opinions split on whether it will happen. Several market watchers have affirmed that Altcoins (Alts) are getting ready for an explosive breakout, but others, including CryptoQuant’s CEO, have suggested a different outlook.
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Few Cryptocurrencies To ‘Survive’ The Altseason
On Friday, Ki Young Ju, CryptoQuant’s founder and CEO, affirmed that the Altseason has begun. In an X thread, Ju suggested that there will not be a direct Bitcoin-to-alt rotation this cycle, noting that “stablecoin holders are favoring” Altcoins.
According to Ju, Bitcoin is no longer a quote cryptocurrency, adding that Bitcoin (BTC) Dominance doesn’t define the altseason anymore. In a December post, he explained that “Altcoins used to move together based on their correlation with BTC,” however, this pattern has now broken.
Instead, he stated that trading volume is the metric that defines it, with Altcoins currently having 2.7x the volume of Bitcoin. Ju also considers this to be a very selective and challenging altseason, with only a few Altcoins with strong user cases and narratives expected to thrive.
He added that, despite good market sentiment, there isn’t fresh liquidity, which “feels like a PvP fight over a fixed pie.” As a result, Altcoin battles “are getting fiercer,” and only a few are pumping this altseason and attracting new liquidity.
Altcoin markets are currently a zero-sum PvP game. While Bitcoin has doubled its market cap, the alt market cap is still below its previous ATH, rotating among themselves without fresh capital inflows. Only a few Alts with strong use cases and narratives will survive.
Altcoins Ready For Next Leg Up
Trader Crypto Yoddha suggested that Altcoins are “ready for round 2” after its recent performance. According to the post, the crypto market, excluding BTC and ETH, is following 2020-2021’s playbook.
During the last cycle, Altcoins experienced two legs towards its cycle top and all-time high (ATH) of $1.13 trillion. In the “first round,” they broke out from its accumulation period, seeing a small re-accumulation phase before surging to the previous top.
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After reclaiming this resistance level, Altcoins started “round two,” achieving various new highs before hitting a new cycle top. Yoddha pointed out that the market is finishing the first round, as it tested last cycle’s top during the post-election pump.
Analyst Rekt Capital affirmed that the crypto market cap, excluding the top 10 tokens, “has completed the second part of its Double Bottom formation.” He explained that Altcoins had been consolidating between the $250 billion to $280 billion range since the February 3 correction.
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Per the post, Alts must close above $280 billion and retest this level as support to confirm a breakout from its three-week resistance and attempt to reclaim the $300 billion mark.
Similarly, analyst Carl Runefelt stated that Altcoins have a parabolic move after breaking out of its two-month descending channel. Alts saw a 120% climb after breaking out of a 2024 multi-month descending channel. Altcoins must reclaim the $300 billion resistance to break from this pattern.
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Featured Image from Unsplash.com, Chart from TradingView.com
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Altcoins
Crypto Trader Michaël van de Poppe Says One AI Altcoin To Explode 100%+, Updates Outlook on Bitcoin and Ethereum
Published
1 day agoon
February 21, 2025By
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Analyst and trader Michaël van de Poppe is highlighting one crypto asset that could go up by triple-digit percentage points while updating his outlook on Bitcoin (BTC) and Ethereum (ETH).
Van de Poppe tells his 775,600 followers on the social media platform X that the native token of the decentralized machine-learning network Bittensor (TAO) is “doing great” and is primed to rally by over 125% to a new all-time high.
“Good to be in profit on this position and I think that the crypto & artificial intelligence (AI) narrative will push this one past $1,000.”
Based on Van de Poppe’s chart, it appears he’s suggesting that Bittensor has confirmed strong support at around $340 and faces crucial resistance at around $500.
Bittensor is trading at $445 at time of writing, down by around 40% from the all-time high price of about $758.
Next up is Bitcoin. Van de Poppe says “good times are ahead” for BTC and altcoins and that Bitcoin is primed to rise to $100,000 or higher “probably within one to two weeks.”
Bitcoin is trading at $97,012 at time of writing.
Turning to Ethereum, Van de Poppe says that the second-largest crypto asset by market cap is on the cusp of rising against its Bitcoin pair. According to the analyst, an Ethereum rally could be bullish for altcoins.
“I think that ETH is about to break upwards above 0.0285 BTC.
The fact that altcoins provide double-digit momentum today is a great sign, imagine if Ethereum starts trending.
It’s still a great time to accumulate the altcoins, and I think that we’re in for a great bull.”
Ethereum is trading at 0.02808 BTC ($2,730) at time of writing.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Chainlink Gearing Up for Parabolic Expansion to All-Time Highs, Says Crypto Analyst – Here’s His Outlook
Published
2 days agoon
February 21, 2025By
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A widely followed crypto analyst says that decentralized oracle network Chainlink (LINK) is gearing up for a massive breakout.
In a new strategy session, pseudonymous crypto trader Inmortal tells his 229,400 followers on the social media platform X that LINK may increase by more than 194% its current value by early next year.
“Green for buying, red for selling. This trade requires:
- 2/100 IQ.
- 100/100 patience .
I have both.”
Looking at his chart, the trader suggests LINK may retest the level around $14 and surge to around $53 in the first half of 2026.
LINK is trading for $17.98 at time of writing, flat on the day.
Next up, the trader predicts that top digital assets will see big rallies in the coming months.
“I think most underestimate the power of buying spot here on some majors. Easy 2x in three months. Buy, wait, wait, wait, sell.”
Lastly, the trader says that Ethereum (ETH) may take off on a series of rallies and surpass the $4,800 level by May.
“This is how my dream looks like.
- Slow grind up, no big dips or retraces.
- God candle when we flip $3,000.
Call me crazy, I don’t care…
It has already started.”
ETH is trading for $2,712 at time of writing, up 1.4% in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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