Key cryptocurrencies set to rise; Solana (SOL), Cardano (ADA), NEAR Protocol (NEAR), Chainlink (LINK) analysis

November 24, 2023 03:11 AM PST | By Invezz

ScapesMania: awesome new gaming eco-system in cryptocurrency

Multiple crypto experts have already picked ScapesMania as a very promising project for 2023 and beyond. It separates itself from the competition by offering holders numerous revenue streams and sizable potential ROIs during presale.

Companies and individual crypto traders looking for short- and medium-term potential gains can look into ScapesMania’s proposition. Once the presale finishes, the last stage price will be $0.01 per token, which is higher than the coin’s current value. Right now, there’s an active discount of close to 85%.

When dissecting the tokenomics and other features of ScapesMania, it becomes clear that it could be one of the best altcoins to hold. The fresh gaming-related core idea, eye-catching presale numbers, $100,000 giveaway, significant social media hype, and other positive aspects can potentially add considerable value to the token in the long run.

That’s why the holders of ScapesMania are calling for others to join the presale and support their great project so everyone can reap the benefits.

Solana (SOL): DEX trading activity fuelling the price growth

SOL has experienced a notable increase in decentralized exchange (DEX) trading activity. The total value locked (TVL) in Solana’s ecosystem has risen by 42%, reflecting a significant boost in platform usage and trust from its user base.

Looking forward, Solana‘s prospects appear strong, particularly with its growing presence in DeFi. However, challenges such as network stability and scalability could impact its growth. If Solana can continue to innovate and maintain network efficiency, it could continue its growth, though investors should be mindful of potential technical issues.

Cardano (ADA): attracting investors with staking rewards

Cardano is gaining attention due to its appealing staking rewards system, potentially setting the stage for a rise in its value. The prospect of enhanced staking rewards has created a positive atmosphere around ADA’s price.

However, broader market conditions and competition from other blockchain platforms could influence its growth. Cardano’s success will largely hinge on its ability to stay competitive and fulfill its technological commitments, something it’s struggled with over the last few years.

NEAR Protocol (NEAR): achieving transaction milestones

NEAR Protocol has reached a significant milestone, recording an all-time high in daily transaction count. This increase in activity signals a growing demand for NEAR Protocol services and its strengthening position in the blockchain market.

The rise in transaction volume on the NEAR Protocol blockchain is associated with a positive trend in its market valuation. For many Layer 1 blockchains, the goal is to achieve an extremely high TPS (transactions per second) in order to fulfill the needs of a worldwide market, avoiding clogging and high-fee issues that chains like Ethereum face.

NEAR Protocol’s future appears promising,though challenges such as market competition and the need for continuous innovation remain. If NEAR Protocol can maintain its current momentum and address these challenges, it could see significant growth ahead.

Chainlink (LINK): on the verge of a breakout

LINK is at a pivotal point, potentially gearing up for a breakout. Technical analysis indicates a bullish flag pattern on the daily charts, suggesting a possible upward movement in the near term.

Chainlink’s immediate future will remain optimistic if the price can breach the resistance level and test it as support. If not, then a rejection off the resistance level would point towards a temporary retrace which could make for a better entry point.

In summary

In November 2023, the spotlight is equally shared by Solana (SOL), Cardano (ADA), NEAR Protocol (NEAR), Chainlink (LINK), and newcomers like ScapesMania.

Solana is leveraging its enhanced DEX activity, Cardano is attracting investors with staking rewards, NEAR Protocol is setting transaction records, and Chainlink is on the cusp of a potential price breakout. Meanwhile, ScapesMania is carving out its niche with an innovative approach to gaming.

As these cryptocurrencies adapt to the market’s ebbs and flows, they stand at the forefront of a potential short-term bullish trend. Keeping this in mind, the most likely prediction is that ScapesMania will be able to show decent results even past its presale jump.

If you’re interested in joining the community, follow along here at their website, Twitter and Telegram.

The post Key cryptocurrencies set to rise; Solana (SOL), Cardano (ADA), NEAR Protocol (NEAR), Chainlink (LINK) analysis appeared first on Invezz

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