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- A $0.57 candle close in XRP price could pave the way for a rise to $0.65.
- Solana’s TVL value surpassed $2 billion on February 20th.
- The number of daily new wallets created on the Cardano exceeded 3,000.
Although the inflow into spot Bitcoin ETFs slowed down last week, more than $200 million entered during the 22nd and 23rd February trading sessions. Meanwhile, the price of Bitcoin fluctuated between $52,000 and $50,000.
According to CoinGlass data, Bitcoin’s volatility was calculated at 1.51% today. One week ago, Bitcoin’s volatility was 1.89%. Despite the overall increase in the inflow into spot Bitcoin ETFs in the US, the volatility of Bitcoin has been decreasing. In this context, three major altcoins may be poised for growth.
1 – XRP
Ripple’s XRP token, despite the impact of the SEC lawsuit, is closely monitored by the community. Despite the recent unlocking of 400 million XRP, analyst Ali Martinez’s examination suggests that the XRP price could rise to $0.65.
According to Martinez, if the XRP price achieves a weekly candle close above $0.57, it could rise to $0.65. The XRP price experienced a 1.5% loss in the last 24 hours, with the current price at $0.53. Additionally, the trading volume increased by over 4%, reaching $755 million, indicating interest in trading activities.
2 – Solana (SOL)
Solana’s SOL token experienced a rapid surge at the end of 2023, with an increase of over 200% in a month, but it showed stagnation in early 2024. The SOL price is currently trading at $103.5. According to analyst Martinez, the TD Sequential indicator provides a buying signal on the daily candles for the SOL token.
The TD Sequential indicator presents a buy signal on the #Solana daily chart, suggesting a potential upswing that could span one to four daily candlesticks for $SOL. pic.twitter.com/LR0I9Y2diu— Ali (@ali_charts) February 24, 2024
SOL’s price increased by 1% in the last 24 hours, while the trading volume decreased by 1.2%. Additionally, according to DefiLlama data, Solana’s TVL value surpassed $2 billion on February 20. TVL represents the total value of all assets locked in DeFi protocols, indicating confidence in the project.
3 – Cardano (ADA)
Cardano’s ADA token decreased by more than 1% in the last 24 hours, falling to $0.58. The 24-hour trading volume remained stable at $350 million. Despite recent price stagnation, there has been an increase in the number of wallets on the Cardano network.
According to Cardano Blockchain Insights data, the daily number of new ADA wallets was 1,706 on February 22, 3,227 on February 23, and 3,219 on February 24. This indicates a significant increase in the adoption and interest in the Cardano network.
Cardano Statistics | Source: Cardano Blockchain Insights
Additionally, according to DefiLlama data, Cardano’s TVL value exceeded $420 million on February 18. This level was last seen on December 16, 2023. The current Cardano TVL value is calculated at $378 million.
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