The wider crypto space is currently under redemption mode with a sort of tug war between bulls versus bears. Whilst, smart traders exploit the opportunity to buy the dip, cryptocurrency projects are fully occupied in perpetrating development activities. Notably, Solana (SOL), and Polkadot (DOT) have been creating a lot of media buzz in terms of developments. Whilst, Ripple (XRP) has seen a progressive move with regards to whale accumulation.
Solana (SOL) has been making swift moves since the start of the year. Meanwhile, a recent report from crypto metric platform Santiment confirms that the platform has been moving at a brisk rate with respect to development activity. SOL appears to be putting a lot of effort underground to benefit traders and impact price action.
Rather than creating only hype, the Platforms recent efforts to escalate development activities have surpassed the impressive daily Github submission rates of Cardano and Polkadot over the past month. Therefore, other than SOL price action, now Solana is well ahead of these top crypto projects with respect to development.
Ripple (XRP) has been battling a tough lawsuit imposed by the SEC. However, the platform looks optimistic of positive clearance of the case by early 2021. A crypto metric platform Santiment revealed exciting analytics on Monday that highlights the rapid accumulation of XRP coins by whales. Just within the span of 3 months, whales have accumulated a total of 19 million coins. Thereby, whale millionaire addresses with 1 million to 10 million XRPs now hold a total of 3.3 billion coins with a 6% rise in accumulation over the past 3 months.
Currently, the price is trading at $0.82 with 0.28% gains in 24 hours. Whilst there has been a rise in accumulation, the XRP price needs to pass the resistance levels of $1.02 and $1.28 in order to confirm the upward move.
Polkadot has undergone a phenomenal rally to clinch a new ATH of $55 posts its announcement on the Parachain auction. Yet DOT price failed to perpetuate the price momentum whilst auctions were underway. However, the project has been resurging to its initial highs as the platform is scheduled to launch the first set of parachains on December 18th.
A crypto proponent Donnie appears to be pretty much convinced with a Polkadot para chain auction. In his recent tweet, he has shown his confidence in the platform’s transpiration to a multi-billion dollar network of blockchains in the near future. The DOT price will skyrocket, and everyone would run behind it to trade, he added.
Collectively, the aforementioned assets hold a solid potential to chug up to new milestones in the upcoming bull cycle. The outcomes of the ongoing projects across the Solana and Polkadot ecosystem, and the judgment of a prevailing lawsuit against XRP would play a decisive role in their forthcoming run.