Bitcoin has retraced to the $70,000 level, dragging the altcoin market down with it. Notably, Solana (SOL) dipped below $180, with doubts mounting over SOL breaking past the sub-$200 resistance level anytime soon.
On the flipside, TON has reached a new all-time high of $6.50, propelling it into the top ten cryptos by market cap. Meanwhile, in the presale market, BlockDAG (BDAG) is rapidly rising to prominence as the top layer 1 crypto, with analysts projecting a staggering 20,000X ROI potential for its native coin, BDAG.
Toncoin (TON) has reached a new all-time high of $6.50, achieving a significant 20% gain. Toncoin’s new all-time high has been partly attributed to Telegram’s adoption of TON for platform payments and payouts for content creators, boosting activity on The Open Network.
The network’s user base and wallet activations have seen remarkable growth, with a notable partnership between The Open Network and HumanCode AI introducing a $5 million TON incentive program. This program, which is centred around a palm-scanning system for user verification, has further fueled Toncoin’s recent price surge and popularity.
Despite boasting a substantial market capitalization of around $80 billion, SOL has experienced a notable dip, falling to a new monthly low of under $180. This Solana dip has sowed seeds of doubt among large-scale investors, especially with growing institutional attention towards the Grayscale Solana Trust (GSOL).
While some anticipate that BlackRock’s application for a Solana ETF could propel the token past its current struggles, notably breaking past the sub-$200 resistance level, others are doubtful, expecting a further downturn.
BlockDAG (BDAG) stands on the cusp of significant growth, with expectations for its value to hit $10 by 2025 and daily capital injections predicted to reach $5 million. Currently in its eighth batch of presale, with BDAG coins available at $0.0045 each, the presale is expected to end within three months – a momentum catalyzed by the recent release of its BlockDAG’s V2 technical whitepaper. BlockDAG has secured $15.2 million, with its eyes set on reaching the $600 milestone by the end of 2024.
Central to BlockDAG is its innovative approach to handling transaction fees. Users can utilize BDAG coins to cover transaction processing costs, supporting the network’s operations and rewarding validators for their efforts.
Furthermore, BlockDAG leverages the Directed Acyclic Graph (DAG) technology, which allows it to overcome the limitations of traditional, sequential blockchain networks by enabling parallel transaction processing and significantly accelerating throughput.
Bitcoin’s retreat to the $70,000 level has impacted the altcoin market, with Solana dipping below $180. Whereas, Toncoin has set a new all-time high at $6.50, buoyed by its integration into Telegram’s payment system. As BlockDAG (BDAG) emerges as a top Layer 1 crypto for 2024, analysts are predicting a remarkable 20,000X ROI potential for BlockDAG, underscored by its $15.9M presale success and the innovative use of Directed Acyclic Graph (DAG) technology.
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