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Solana (SOL) just reached a new milestone as the fourth most valuable cryptocurrency. This happens amid a fantastic year for what is now being again called the Ethereum-killer.

Notably, Solana surpassed BNB Chain (BNB) in market cap between December 22 and 23. According to CoinMarketCap, both now have $40.84 billion and $40.64 billion in capitalization, respectively.

Currently, SOL registers a 24-hour volume of $3.15 billion against BNBs $772.54 million. The former is up 28% weekly, responsible for conquering the fourth position of the leading crypto index.

In the meantime, Tether (USDT) has a $50 billion higher market cap of $91.25 billion in the third position. Bitcoin (BTC) is still the dominating cryptocurrency with $853.79 billion capitalization, followed by Ethereum (ETH), which is valued at $274.90 billion.

This surge in ranking should not be underestimated, directly resulting from a growing interest in Solanas ecosystem.

Essentially, Solanas total value locked (TVL) has played a crucial role in DeFis growth in 2023. The decentralized finance ecosystem even surpassed countries economies (GDP) at $52 billion worth of cryptocurrencies invested in these protocols.

Justin Bons, founder and CIO of Cyber Capital, Europes oldest cryptocurrency fund, believes in a narrative shift. According to a post from Bons on X (formerly Twitter), the market is turning its eyes to layer-1 scalability.

In particular, projects like SOL aim to offer a more efficient user experience in DeFi and Web3. They use technological innovations to increase each networks capacity without relying mostly on second layers, such as Ethereum.

Therefore, cryptocurrency investors must prepare to learn and adjust as the market evolves. Changes usually bring challenges but also drive improvement and opportunities, as expressed by Justin Bons: What is happening in cryptocurrency now is awesome.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Solana dethrones BNB to rank as the top 4th cryptocurrency globally - Finbold - Finance in Bold

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December 27, 2023 9:34 AM | 1 min read

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Bitcoin (CRYPTO: BTC) edged higher, with the cryptocurrency prices trading above the $42,800 level on Wednesday.

Ethereum (CRYPTO: ETH) also recorded gains, trading above the key $2,200 mark this morning.

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Bitcoin SV (CRYPTO: BSV) was the top gainer over the prior 24 hours, while Bonk (CRYPTO: BONK) turned out to be the biggest loser.

At the time of writing, the global crypto market cap rose to $1.67 trillion, recording a 24-hour gain of 0.5%. BTC was trading higher by 0.2% at $42,842 while ETH rose by around 1.7% to $2,284 on Wednesday.

Here are the top ten crypto gainers and losers over the past 24 hours:

Bitcoin SV (CRYPTO: BSV)Price: $62.2424-hour gain: 24%

Polygon (CRYPTO: MATIC)Price: $1.0924-hour gain: 21.8%

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Mina (CRYPTO: MINA)Price: $1.4324-hour gain: 21.5%

Astar (CRYPTO: ASTR)Price: $0.131724-hour gain: 20.5%

Optimism (CRYPTO: OP)Price: $3.6624-hour gain: 10%

Bonk (CRYPTO: BONK)Price: $0.0000155924-hour drop: 14.1%

Oasis Network (CRYPTO: ROSE)Price: $0.132824-hour drop: 9.7%

NEAR Protocol (CRYPTO: NEAR)Price: $4.1524-hour drop: 8.8%

Beam (CRYPTO: BEAM)Price: $0.0188124-hour drop: 8.3%

Quant (CRYPTO: QNT)Price: $140.4524-hour drop: 7%

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Ethereum Moves Higher; Bitcoin SV Emerges As Top Gainer - Benzinga

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The seventh-largest cryptocurrency by market capitalization, Solana (SOL), has had a significant decline in price over the last week, shedding over 30% of its value from its peak of US$58.38 on November 9, 2023. Analysts and cryptocurrency fans are debating whether or not the smart contract platforms bull run is finished in light of the recent drop in the price of Solana.

The goal of the blockchain platform Solana is to enable decentralized applications (DApps) and protocols that are quick, scalable, and safe. With minimal fees and great security, it claims to accomplish over 50,000 transactions per second (TPS) with its unique Proof of History (PoH) consensus technique. Through its Wormhole bridge, Solana facilitates interoperability with other blockchains, including Ethereum, Bitcoin, and Binance Smart Chain.

Solana has increased by more than 3,000% from the years beginning, making it one of the top-performing cryptocurrencies in 2023. Because of its potential and technological prowess, it has drawn significant interest and investment from institutional and retail investors alike. The ecosystem of Solana has also grown quickly; hundreds of DApps and protocols, including Serum, Audius, Raydium, and Star Atlas, are developed on its platform.

But Solana has also seen significant difficulties and failures, which have added to the companys recent stock decline. The following are a few elements that have lowered Solanas price:

The network outage that occurred in Solana on September 14, 2023, lasted over 17 hours. The reason for the disruption was a significant surge in transaction demand that exceeded the networks capacity. Because they were unable to access their cash and DApps, Solana users and developers were extremely frustrated and worried due to the outage. Along with its centralization and governance concerns, Solanas scalability and dependability were also called into doubt by the outage.

The general market slump that has impacted most cryptocurrencies over the last week has also had an impact on Solanas price decline. Several causes, including the US debt limit worry, the governmental crackdown on cryptocurrency exchanges and stablecoins, investor profit-taking, and concerns about inflation, all contributed to the market correction. Due to their extreme fear and panic over the market drop, cryptocurrency traders liquidated their holdings to limit their losses.

The growing competition from other smart contract platforms, such as Ethereum, Cardano, Polkadot, and Avalanche, also had an impact on Solanas price decline. Along with introducing new features and updates like Ethereums Cancun update, Cardanos smart contracts, Polkadots parachains, and Avalanches Apricot update, these platforms are also aiming to increase their performance, scalability, and security. Additionally, more developers and users are drawn to these platforms as they search for greater chances and alternatives in the cryptocurrency field.

Several cryptocurrency analysts and aficionados are still positive about Solana despite the recent price drop, thinking the cryptocurrency is well-positioned to continue rising and hit new highs. An optimistic view for Solana is supported, among other things, by:

Some technical experts believe that Solanas price decline was a normal correction following a parabolic surge. Given that Solanas price is above its 50-day and 200-day moving averages, which are regarded as support levels, they contend that the market is still in an uptrend. Additionally, they note that the price of Solana is developing a bullish flag pattern, a continuation pattern that suggests a possible upside breakthrough. They forecast that shortly, Solanas price may rise and aim for the US$70-US$80 region.

Some fundamental experts believe that Solanas recent price decline was a transitory event that has no bearing on the companys future worth or prospects. Because of its distinctive and cutting-edge technology, sizable and expanding ecosystem, devoted and encouraging community, and high demand and acceptance, they contend that Solanas foundations are still robust and sound. Additionally, they draw attention to the several forthcoming events and advancements for Solana, including the Solana Breakpoint conference, the Solana Season Hackathon, the Solana Ignition awards program, and the introduction of new DApps and protocols, all of which have the potential to increase the platforms visibility and uptake.

Some mood analysts claim that panic and terror, not reason and reasoning, were the psychological causes of Solanas price collapse. Because there is a lot of social media buzz and engagement, a large number of active addresses and transactions, a low number of short positions and liquidations, and a high number of active addresses, they contend that Solanas attitude is still upbeat and hopeful. They add that when the market steadies and the network gets back to business as usual, Solanas mood should also become better and recover.

Finally, the sharp decline in Solanas price has prompted discussions among experts and cryptocurrency fans over whether or not the platforms smart contract boom is coming to an end. Given the variety of elements and circumstances that might have an immediate or long-term impact on Solanas price, the answer is neither precise nor unambiguous. But according to technical, fundamental, and sentiment research, Solanas price drop appears to have been a brief and healthy correction rather than a catastrophic and long-lasting collapse. Consequently, Solanas bull market is still active and may continue to rise, setting new records in the process.

Read more:
Solana Price Plunge Sparks Debates: Is the Bull Run Over? - Analytics Insight

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Story Highlights

As Bitcoin surges past the $40K threshold to approach $45K, Ethereum, the foremost altcoin, experiences a significant boost in value, riding the wave of improving market sentiments. Surpassing the $2000 milestone, Ethereums upward price trajectory gathers pace, exhibiting no indications of slowing down.

ETHs price action reveals a bullish breakout, surpassing $2200 and targeting the $2400 resistance. With Ethereum hinting at further breakouts, buyer enthusiasm grows, reflecting a potential bullish trend for 2024.

Ethereums price movement reflects resilience to cross above $2500 and energizes a trend to reach $3000. However, the question remains: Is it too late to buy Ethereum? Or Will Ethereum go up?

We delve into these critical questions and more in our comprehensive Ethereum price prediction for 2023-2030.

Read on to explore the future of Ethereum and what it may hold for investors and the broader crypto market.

As the second most valuable coin in todays market, Ethereum holds promising price predictions for the years 2024-2030. Generally, being a top global open-source programmable blockchain network, Ethereum offers a variety of use cases that hold significant value for financial organizations, banks, and various industries.

Moreover, the vast potential improves the likelihood of Ethereums entry into the global market. Hence, with its versatility and overall applications, Ethereum is poised to make a lasting impact on the world of digital finance and beyond.

Ending the sideways movement with the rounding bottom breakout, the improving underlying demand in the ETH price trend results in an impressive rally. With a bullish trend in motion, the ETH price trend forms a rising channel pattern in the daily chart. Further, with the improving sentiments in the entire crypto market, Ethereums price sustains above $2000 and signals an entry opportunity for sideline traders.

Moreover, the intraday trading volume is on a recovering trend, supporting the breakout phase leading to a rise in demand. With a remarkable jump of 16.64% in the last eight days, the ETH price approaches the overhead resistance at $2400.

Teasing a breakout trend surpassing $2400, Ethereums price may soon exceed the psychological mark of $2500. Further, the recent overnight jump of almost 6% increases the likelihood of an uptrend.

If the ETH price sustains the bullish momentum, then a bullish trend can cross the $2400 mark. Driving a new breakout rally, the ETH price can reach $2800 by the end of January 2024. Conversely, the downside risk can lead to a sharp downfall and a plunge to $1800.

As the volatile 2023 concludes, the Ethereum market price recovers remarkably, forming an ascending triangle pattern in the weekly chart. Bouncing from the psychological barrier of $1000 in November 2022, the uptrend continues to gain momentum in the Ethereum weekly chart.

Facing constant rejection from the $2100 barrier, the buyers are attempting a bullish breakout fueled by the recent Uptober rally of 2023.

Blazing past the overhead resistance, the ETH price pushes beyond the $2200 barrier. Moreover, the breakout rally signals a longer uptrend and avoids a death cross in the weekly chart. If the buyers manage to cross the Ethereum market value above $2200, the bull run continuation can exponentially increase in 2024. With potential Spot ETF approvals and the Bitcoin Halving effect on altcoins, the price of ETH can reach $3825.

Also Read: Ethereum Price Analysis: With ETH Price Struggling Above $1800, Whats Next? $1600 or $2000?

In like fashion, Ethereum, the second-largest cryptocurrency, is expected to maintain its upward trajectory and form higher highs in 2025. Moreover, with increased adoption and the demand for ETH, the ETH coin price can create a new all-time high of $4925.

However, on the flip side, the ETH coin price can dip to $3,917, with an average ETH price of $4,392.5.

By 2026, the Ethereum coin price is expected to reach a high of $6,610. Conversely, the ETH price might drop to $5,566 with an average of $5,713.

Similarly, the Ethereum 2027 forecast expects the ETH coin price to make a new All-time at $8,705. However, a correction based on market shortcomings may drive the ETH crypto to $6,800, with an average of $7,246.

In 2028, the chances of Ethereum dominating the crypto market rise up as the ETH coin price will potentially reach a new high at $16,140. Conversely, the altcoin might fall to $12,613, making an average of $14,482.

Approaching its all-time high of $21,994.32 in 2029, the Ethereum price is expected to surpass the psychological barrier of $20,000. Conversely, in case of a correction, $ETH may reach a low of $16,192.00, with an average price of $19,010.77.

Lastly, the ETH crypto price is projected to reach a new all-time high of $26,575.21 in 2030. Conversely, with a potential low of $20,647.23 and an average price of $23,563.01.

Factors like the successful change to PoS and the upcoming Danksharding upgrade will incline stars in favor of the protocol. If the Ethereum network manages to scale remarkably with the upcoming upgrades and ace the adoption race, then the ETH crypto price will skyrocket.

Potentially, the Ethereum (ETH) coin price will reach a new swing high of $3582 before the end of 2024. Conversely, increasing FUD amongst investors and a lack of updates could curb the value of 1 ETH at $2160.

*The aforementioned targets are the average targets set by the respective firms.

In a recent report by VanEck, a renowned investment management firm, paints an optimistic future for Ethereum. Generally, the report outlines three potential scenarios for Ethereums market price by 2030: a bullish scenario, a bearish scenario, and a base scenario.

In case of a bullish outcome, Ethereums market price could skyrocket to a staggering $51,006, a 31-fold increase from its current value. Further, this scenario is fueled by Ethereums potential to provide security as a service and its use as a store of value assets.

On the other hand, the bearish scenario projects a drop to $343, a 5x fall from the current market price. However, the base scenario, which is a neutral one, predicts that Ethereum will reach $11,849 by 2030, a seven-fold rise.

Moreover, the report suggests that by 2030, 5% of financial, banking, and payment transactions will shift to blockchain technology. Meanwhile, 20% of it will be absorbed by the metaverses social and gaming sectors, and 10% will go into infrastructure. Hence, Ethereum is expected to acquire 70% of the market share in the smart contract protocol, further solidifying its position in the crypto world.

Lastly, one of Ethereums most exciting prospects is the expected reduction in gas fees, which will make transactions more affordable and accessible for users.

Deltec Bank, based in the Bahamas, shares Ethereums long-term price prediction that reflects the growing interest in the programmable blockchain network.

Furthermore, Deltec finds the London hard fork and Ethereums switch to proof-of-stake as bullish indicators for the network. Moreover, the US dollar inflation alone could potentially push the Ethereum coin price.

Conversely, Ethereum becoming deflationary post-London Hard Fork creates an intriguing dynamic for the Ethereum coin price against the backdrop of accelerating fiat supply.

Moreover, Deltec identifies eight key factors impacting Ethereums price:

Ethereum is a groundbreaking blockchain framework that enables developers to create and execute smart contracts without intermediaries. In fact, it drives the explosive growth of decentralized finance (DeFi), non-fungible tokens (NFTs), blockchain gaming, and Web 3.0 applications.

Moreover, Ethereum recently completed its jump to a more sustainable Proof-of-Stake consensus mechanism on September 15th, 2023.

Danksharding is the next step in the Ethereum Roadmap. In fact, it is an advanced scaling solution for Ethereum that allows for increased network capacity and storage space for rollups. Hence, this will enable millions of transactions per second.

Additionally, sharding is a crucial feature of Ethereum 2.0, the major upgrade that aims to make Ethereum more energy efficient, faster, and cheaper.

In another case, the implementation of Danksharding will be a multi-year process. However, a precursor called Proto-Danksharding, specified in EIP-4844, is already in a mature stage with prototypes. Moreover, with its testing underway, some experts predict Ethereum could have sharding capabilities in 2024-25. Meanwhile, the possibility of an early release is notable.

Ethereum 2.0 is an updated version of the existing Ethereum blockchain, which aims to increase the efficiency, scalability, and speed of the Ethereum network.

This upgrade allows Beacon Chain staked ether (stETH) withdrawals.

Gas is the small type of work processed on the Ethereum network. Gas measures the amount of work to be done by miners in order to include transactions in the Block.

The price of ETH might surge to a maximum of $3825 by the end of 2024.

Ethereum Shanghai Upgrade scheduled for the first half of 2023.

According to our Ethereum price prediction. The largest altcoins price could propel to a maximum of $4616.77 by the end of 2025. ETH is expected to cross the $26,000 mark by 2030.

With its dominance in DeFis, NFTs, and widespread prominence, Ethereum will continue to hold the crown of the largest altcoin. With the merger with ETH 2.0, Ethereums hold would further grow stronger.

Yes, the Ethereum network will eventually welcome more projects to be built on its chain, following its merger. It will also receive many improvements that will fundamentally strengthen the chain.

During the time of publishing, the price of 1 ETH was $1,528.21.

Considering you invested in Ethereum in January 2020, the value of your ETH crypto investment has increased by 1300%. In short, the $100 would be worth $1400 now.

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Ethereum Price Prediction 2024, 2025: Will ETH Price Cross The $3,000 This Year? - Coinpedia Fintech News

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