Both $SOL & $LINK kickstarted the 1st wave of Altcoin rallies months ago
— Rekt Capital (@rektcapital) February 2, 2024
They were the top performers in the Q4 Altcoin Hype Cycle of 2023
Both #SOL & #LINK are rallying today, outperforming yet again
Market may be gearing up for a Q1 Altcoin Hype Cycle#Solana #Chainlink pic.twitter.com/6mqclYIReQ
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Crypto Solana vs Chainlink: Duel of Titans for a Bull Run!
Tue 06 Feb 2024 ▪
4
min of reading ▪ by
Getting informed
▪
Solana (SOL) takes center stage with a trading volume surpassing one billion dollars, even outperforming Ethereum. Solana’s flagship DEX, Orca, sees its volume explode by nearly 50%, reaching 2.211 billion dollars, competing with giants such as Uniswap and PancakeSwap. In the wake of Solana, Chainlink (LINK) also captures attention with a recent massive accumulation by large holders. Observers anticipate an altcoin Bull Run for the first quarter of 2024, with LINK and SOL at the heart of this anticipation.
Altcoins: Solana and Chainlink Leading the Way for a Bull Run?
Solana’s SOL crypto has made a significant breakthrough with over one billion dollars in trading volume on its DeFi platforms, surpassing Ethereum. Solana’s rise, illustrated by a weekly increase of 15.34%, underscores its growing competitiveness against Ethereum, which has seen its volume decrease by 12.44%. At the heart of this success is Orca, Solana’s main DEX, whose weekly volume has exploded by nearly 50%, reaching 2.211 billion dollars. Orca competes with giants such as Uniswap and PancakeSwap, capturing half of Solana’s total volume and consolidating its dominant position in the DEX world.
The enigmatic crypto strategist Rekt Capital, followed by nearly 395,000 fans, anticipates an imminent altcoin boom, reports CoinPaprika. Highlighting the previous quarter, Rekt Capital points out the remarkable performances of Solana (SOL) and Chainlink (LINK) based on Ethereum, predicting a repeat of this trend in the first quarter of 2024.
The recent climbs of SOL and LINK indicate a possible new cycle of enthusiasm for altcoins. Other analysts, including Inmortal and Kevin Svenson, acknowledge the predominant influence of Chainlink, considered a precursor to broader cryptocurrency rallies. With LINK at 17.91 dollars and SOL at 98.46 dollars, these cryptos show significant gains since the start of the year, suggesting a favorable period for the altcoin market.
ChainLink’s LINK Crypto: A Dazzling Rise Since 2023
The LINK phenomenon has been drawing attention as large holders have been massively accumulating this cryptocurrency since December 2023. The top 200 Chainlink wallets have seen their holdings in LINK crypto increase by 50 million in five weeks, equating to an impressive rise of 800 million dollars. The altcoin market is entering a profound upheaval.
This remarkable accumulation, paired with an astonishing price growth of 143% in just five months, demonstrates Chainlink’s exceptional resilience. A performance that even surpasses that of bitcoin. A dynamic that sparks the curiosity of crypto market observers in the face of these unusual trends.
It is entirely appropriate to accredit Chainlink with the status of a pillar in the evolution of DeFi in 2023.
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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.