Renowned crypto analysts took the stage on Thursday, projecting a highly bullish outlook for TRX price ahead. Analyst ‘Ali Martinez’ spotlighted a remarkable spike in TRON network activity as it scales new highs, whilst ‘Crypto Patel’ revealed that a $1 price target is potentially achievable this bull cycle. As a result, traders and investors optimistically eye the Justin Sun-backed token amid a broader market recovery.
Analyst Forecasts TRX Price To $1
At the time of reporting, TRX price witnessed a 2% uptick and exchanged hands at $0.2458. The coin bottomed and peaked at $0.2407 and $0.2465 intraday. Notably, the rising trajectory aligns with the broader crypto market’s recent recovery-like trend.
Simultaneously, analyst Crypto Patel took to X, revealing that TRON is showcasing a strong momentum and a $1 price target potentially looms. According to the price chart shared by the analyst, the coin’s price holds strong support at $0.140. A sustained hold above this level remains bullish.
Source: Crypto Patel, X
The best ‘buy zone’ lies at $0.160 – $0.180, given the opportunity presents itself, per the analyst. Notably, the current price levels are considerably above the mentioned support zone, whilst sustained demand could propel new highs.
Can The Analyst’s Prediction Come True?
Intriguingly, it’s noteworthy that the analyst predicted a 200-300% surge in TRX price during October last year. Back then, the coin’s price traded around the $0.16 level, per CoinMarketCap data.
Subsequently, the price hit a $0.426 level as of early December 2024. This past chronicle is worth considering, although the price soon fell amid broader market trends.
TRON Network Activity Surge Bolsters Bullish Prediction
On the other hand, TRON network activity rose substantially, reaching a 2-month-high as of March 4.
According to analyst Ali Martinez, 2.94 million active addresses were recorded on the network recently. This data suggested rising market interest in the Justin Sun-led crypto project, paving a bullish road ahead.
Source: Ali Charts, X
Crypto Market Recovery Bolsters Hope
Simultaneously, the broader crypto market’s recovery-like trend has solidified investors’ optimism on TRX price. Bitcoin and altcoin witnessed notable gains amid pro-crypto developments in the U.S.
Donald Trump’s strategic crypto reserve announcement appears to have substantially boosted the market sentiment. Moreover, the looming U.S. crypto summit set for Friday has also glimmered hope over the market’s future prospects. Crypto market participants continue to monitor TRON extensively amid broader developments, signaling that a bull run to $1 is possible.
Crypto prices are surging today, March 6, 2025, with Bitcoin (BTC) hitting a three-day high of $92,000. Ethereum price has also gained by 4.6% to around $2,300. All the top-ten cryptos by market cap have also registered strong gains, with Dogecoin (DOGE) leading the pack with a staggering 10% rise.
Despite these market-wide gains, volatility risks remain. Mt. Gox has moved $1 billion in BTC, triggering concerns of a looming selloff. Retail traders also appear to be leaving the market amid declining volumes on PumpFun and a drastic drop in the meme coin market cap.
Crypto Prices Face Volatility Risks as Mt. Gox Moves $1B Bitcoin
Defunct cryptocurrency exchange Mt.Gox has moved 12,000 BTC valued at approximately $1.09 billion. According to Arkham, these coins were moved to a new wallet address, sparking speculation of upcoming creditor repayments.
Mt.Gox Bitcoin
The Mt.Gox Bitcoin repayments could increase volatility in the crypto market. The creditors that have waited for more than a decade may opt to sell once they receive BTC. This large sell-off could trigger a short-term drop in crypto prices. Moreover, if these coins end up in the market at a time when the demand is low, it could impact Bitcoin’s rally towards $100,000.
PumpFun Volumes Plunge 94% – Can Solana Price Sustain Gains?
Transaction volumes on the Solana meme coin launchpad PumpFun have declined by 94% as most crypto prices tumbled. These volumes are now at their lowest level in nearly a year, suggesting that interest in meme coins is dropping.
PumpFun Volumes
PumpFun volumes peaked in January after the release of Solana meme coins like TRUMP and MELANIA. However, interest has gradually faded as these meme coins lost nearly all of their gains barely one month after launching.
These declining volumes have sparked a bearish Solana price prediction after it dropped by 27% in one month. At press time, SOL trades at $149 after a 4.7% drop in 24 hours.
Meme Coin Market Cap Drops by $59B As Dogecoin Price Rebounds
The total meme coin market capitalization has dropped by $59 billion from its 2025 peak of $116 billion amid falling crypto prices. At press time, the total meme coin market cap stood at $57 billion after falling by more than 50% year-to-date.
Meme Coin Market Capitalization
This decline shows traders have become hesitant to buy meme coins. However, the declining interest is prevalent in newer meme coins, as the hype fades, interest has returned to older meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB).
At press time, Dogecoin price had posted a notable 10% gain to trade at $0.21, while Shiba Inu price had surged by 5%.
What’s Next for Crypto Prices
Crypto prices show signs of heightened volatility. The $1 billion BTC transfer by Mt.Gox could stir panic selling and cause Bitcoin to fall below the $90,00 psychological level again. Given that altcoins have been tracking Bitcoin price, signs of weakness could also plunge altcoin prices.
Meme coins are no longer draining liquidity from the broader market. Reduced interest in new meme coins has led to PumpFun transaction volumes falling by 94%. Older meme coins like Dogecoin and Shiba Inu have also seen renewed interest, which may bode well for price.
Imagine you’re stuck in traffic, waiting forever to get where you need to go. Now, imagine there’s a new highway built just for you—no traffic, no delays, just smooth sailing. That’s Avalanche (AVAX) in the world of crypto. It’s designed to be faster, cheaper, and more scalable than many of its competitors, including Ethereum. But does it live up to the hype? Let’s dive into everything you need to know about Avalanche.
What is Avalanche?
Avalanche is a blockchain platform that’s designed for speed, low transaction fees, and scalability. Think of it as Ethereum’s faster, younger cousin. It allows developers to create decentralized applications (DApps) and even launch their own blockchains (subnets) while keeping everything running smoothly.
It was built to solve some of the biggest problems in crypto: slow transaction speeds, high fees, and network congestion. Ethereum, for example, sometimes struggles with high fees and slow transactions during peak times. Avalanche aims to fix that by offering near-instant finality and extremely low costs.
At its core, Avalanche has its own cryptocurrency called AVAX. It’s used for staking, paying fees, and securing the network. But the real magic of Avalanche lies in its unique structure. Unlike traditional blockchains, Avalanche operates on three different blockchains, each with a specific purpose. We’ll get into how that works in a bit.
History of Avalanche
Avalanche was created by Ava Labs, a company founded by Emin Gün Sirer, a Cornell University professor and blockchain expert. The project started in 2018, and by 2020, it officially launched.
Here’s a quick timeline:
2018 – The Avalanche consensus mechanism was first introduced by a team of researchers.
2019 – Ava Labs raised funding and started working on the network.
2020 – Avalanche launched its mainnet, making it publicly available.
2021 – Avalanche gained massive traction, with AVAX’s price skyrocketing and partnerships forming.
Since then, it has become one of the top blockchains, attracting developers, institutions, and crypto enthusiasts.
History of Avalanche
2018 – The Avalanche consensus mechanism was first introduced.
2019 – Ava Labs raised funding and started working.
2020 – Avalanche launched its mainnet.
2021 – Avalanche gained massive traction.
How Does Avalanche Work?
Unlike traditional blockchains, Avalanche doesn’t rely on a single chain. Instead, it uses three different chains to improve efficiency:
X-Chain (Exchange Chain) – This handles asset creation and transfers, similar to how Bitcoin is used for transactions.
C-Chain (Contract Chain) – This is where smart contracts are executed, making it compatible with Ethereum’s DApps.
P-Chain (Platform Chain) – This manages validators and helps create custom subnets (individual blockchains).
Why does this matter? Because by splitting tasks between these chains, Avalanche avoids congestion, making transactions super fast and cheap.
For example, Ethereum processes around 15 transactions per second (TPS). Avalanche? It can handle over 4,500 TPS. That’s a game-changer.
Advantages of Avalanche
Avalanche has some major advantages that make it stand out:
Speed – Transactions settle in less than two seconds. No more waiting for minutes or even hours.
Low Fees – Compared to Ethereum’s sometimes ridiculous gas fees, Avalanche keeps costs low.
Scalability – The network doesn’t slow down even when usage increases.
Ethereum Compatibility – Developers can easily move their projects from Ethereum to Avalanche.
Security – Avalanche’s unique consensus mechanism makes it more resistant to attacks.
Eco-Friendly – Unlike Bitcoin, which uses proof-of-work (PoW), Avalanche uses proof-of-stake (PoS), which is much more energy-efficient.
Disadvantages of Avalanche
Competition – Ethereum, Solana, and others are also working on scalability solutions.
Centralization Concerns – Some critics argue that a small number of validators control most of the AVAX supply.
Adoption – While growing, it still needs more developers and projects to truly compete with Ethereum.
Is Avalanche a Good Investment?
This is the big question: should you invest in AVAX?
Like any crypto, AVAX has had its ups and downs. It saw huge gains in 2021, reaching an all-time high of around $146. However, it also faced major corrections.
Here’s why some investors are bullish:
Strong technology – Avalanche’s speed and low fees make it attractive for DApps.
Growing ecosystem – More projects are launching on Avalanche.
Institutional interest – Big players are taking notice.
But there are risks too:
Crypto volatility – Prices can swing wildly.
Regulatory uncertainty – Governments may crack down on crypto.
Competition – Ethereum and others aren’t standing still.
If you believe in Avalanche’s long-term potential, it could be a solid investment. But always do your research and never invest more than you can afford to lose.
Is Avalanche a Good Investment?
Here’s why some investors are bullish:
Strong technology
Growing ecosystem
Institutional interest
But there are risks too:
Crypto volatility
Regulatory uncertainty
Competition
The Future of Avalanche
Avalanche has a bright future, but it won’t be an easy ride. Here’s what could happen next:
More Adoption – If more developers and institutions join, Avalanche could challenge Ethereum.
Better Upgrades – Avalanche continues to improve its scalability and security.
Stronger Partnerships – More collaborations could boost its ecosystem.
Price Growth? – If demand increases, AVAX could see price appreciation.
Of course, nothing is guaranteed in crypto. Avalanche has potential, but it also faces challenges.
Final Thoughts
Avalanche is like the high-speed train of the crypto world. It’s fast, efficient, and designed to handle huge amounts of traffic without slowing down. If you’re into crypto, it’s definitely worth keeping an eye on.
Will it replace Ethereum? Maybe not. But will it play a major role in the future of blockchain? Very likely.
So, whether you’re an investor, developer, or just curious about crypto, Avalanche is one name you should know.
FAQs
What is Avalanche (AVAX) and how does it work?
Avalanche is a fast, low-cost blockchain using three chains (X-Chain, C-Chain, P-Chain) to improve scalability and efficiency.
How is Avalanche different from Ethereum?
Avalanche is faster (4,500 TPS vs. Ethereum’s 15 TPS), has lower fees, and supports subnets for custom blockchains.
Is AVAX a good investment?
AVAX has strong tech, growing adoption, and institutional interest but faces risks like volatility and competition.
What is the future of Avalanche?
Avalanche aims for wider adoption, better upgrades, stronger partnerships, and potential price growth in the crypto space.
The post Learn Avalanche in 7 Minutes: A Step-by-Step Guide appeared first on Coinpedia Fintech News
Imagine you’re stuck in traffic, waiting forever to get where you need to go. Now, imagine there’s a new highway built just for you—no traffic, no delays, just smooth sailing. That’s Avalanche (AVAX) in the world of crypto. It’s designed to be faster, cheaper, and more scalable than many of its competitors, including Ethereum. But …
XRP has been experiencing fluctuating price action recently. Currently trading at around $2.50, XRP saw a major drop after an initial price spike. However, it’s now back on an upward trajectory, hinting at a potential bullish trend. This movement suggests that XRP is following a slow, steady climb, with hopes of developing into a larger upward pattern. Analysts are watching for the possibility of an extended bull run, similar to what occurred in 2021.
Since the U.S. election, XRP has surged by 375%. The altcoin is significantly outperforming the broader market, with increasing interest from new buyers, as active XRP wallets have jumped by 620% in the past week.
The market’s fear and greed index is improving, moving up to 30, signaling a shift toward a more optimistic outlook. Bitcoin dominance remains steady at 60%, and the overall market cap has risen to $3 trillion, with altcoins also gaining momentum.
Bearish Divergence on 3-Day Chart
According to analyst Josh of Crypto World, XRP continues to show a bearish divergence on the 3-day timeframe. This suggests that while short-term movements may fluctuate, we shouldn’t expect any major bullish momentum similar to the rise seen in November last year.
Short-Term Support and Resistance Levels
XRP is bouncing from a key support area between $2.25 to $2.30. The next resistance levels to watch are between $2.65 and $2.80, with additional resistance at $3 and $3.20.
RSI Indicators and Market Movement
The RSI has recently bounced into overbought territory, but has since reset after a pullback. At the moment, the RSI is neutral, which suggests that XRP’s price may remain in a sideways range for the short term. If Bitcoin and other major altcoins stay neutral, XRP is likely to follow suit with some choppy price action.
The post XRP Price Prediction For March 6 appeared first on Coinpedia Fintech News
XRP has been experiencing fluctuating price action recently. Currently trading at around $2.50, XRP saw a major drop after an initial price spike. However, it’s now back on an upward trajectory, hinting at a potential bullish trend. This movement suggests that XRP is following a slow, steady climb, with hopes of developing into a larger …
The crypto market today has made a comeback on its daily chart, with the market cap shooting up 4.89% to reclaim the $3 trillion mark. This bullish move has come ahead of the scheduled Crypto Summit. Despite the moonish numbers, the trade volumes went south by 20.30% since yesterday, highlighting caution among investors. The sentiments being bearish is also evident on the Fear & Greed Index, which stands at 30, cautioning about looming fear in the market.
Bitcoin Price Surges 6.23%
Bitcoin price has made a notable jump of 6.23% since yesterday, to retrieve its $92k milestone. Although the price took a step up, the trading volume dropped to $51.84 billion. BTC price rising up from its 24-hour low of $86,987.02 to current levels around $92k, has instilled faith among short-term traders.
Among the biggest gainers, MOVE recorded an impressive 26.02% jump to $0.4983, followed by ONDO with a gain of +21.94% and Bitcoin Cash with +19.99% price surge. On the losing end, Story IP fell 8.48%, while Mantra OM dipped 1.51%, and XDC Network sank by 0.36%.
Subscribe to us, to stay updated with our daily market insights and in-depth price predictions.
FAQs
1. How much does 1 Bitcoin cost today?
Bitcoin is currently priced at $92,328.10, marking a 6.23% increase in 24 hours.
2. Which token gained the most today?
MOVE token led the market with a 26.02% surge, followed by ONDO and BCH.
3. What is the current market sentiment?
The Fear & Greed Index stands at 30, indicating cautious market sentiment despite today’s rally.
The post Crypto Market Today (06th March, 2025): Bitcoin Reclaims the $92k Tag Ahead of Crypto Summit appeared first on Coinpedia Fintech News
The crypto market today has made a comeback on its daily chart, with the market cap shooting up 4.89% to reclaim the $3 trillion mark. This bullish move has come ahead of the scheduled Crypto Summit. Despite the moonish numbers, the trade volumes went south by 20.30% since yesterday, highlighting caution among investors. The sentiments …
Fox Business reporter Eleanor Terrett shared in a latest X post that the U.S. Republican Representatives recently hosted a “Crypto Power Lunch” to discuss upcoming digital asset policies and potential legislation.
The event was attended by key political figures, including Majority Whip Tom Emmer and Representative Bryan Steil, who leads the Digital Assets Subcommittee.
The lunch also featured prominent representatives from major crypto organizations and companies, like the Chamber of Digital Commerce, the Blockchain Association, Coinbase, Paradigm, Andreessen Horowitz (a16z), CoinFlip, Anchorage Digital, and Digital Currency Group (DCG). These industry leaders provided their insights on how to shape digital asset rules in the U.S.
This event shows growing interest from both political parties in how to regulate digital currencies and blockchain technology. As cryptocurrency becomes more popular and valuable, lawmakers are focusing on creating policies that ensure safety while encouraging innovation in the industry.
Balancing Regulation With Innovation
The “Crypto Power Lunch” is part of the GOP’s ongoing effort to balance regulation with the interests of the fast-growing crypto sector.
The “Crypto Power Lunch” hosted by U.S. Republican Representatives signals growing bipartisan interest in regulating cryptocurrency and blockchain technology. Key industry leaders from companies like Coinbase and Andreessen Horowitz attended, offering insights on how to shape digital asset regulations.
This event could lead to clearer policies that protect consumers, foster innovation, and ensure the U.S. remains a leader in the crypto space. The discussions may pave the way for future legislation that balances regulation with industry growth.
The Crypto Summit Next!
Besides, the crypto community is anxiously awaiting the first of its kind White House crypto summit, to be held tomorrow on March 7, where several industry leaders and members of President Trump’s crypto task force are expected to attend the summit. This could be a pivotal moment for the cryptocurrency market which could shape the regulations for its future.
The post ‘Crypto Power Lunch’ Sets Stage for Key Regulation Ahead of White House Crypto Summit 2025 appeared first on Coinpedia Fintech News
Fox Business reporter Eleanor Terrett shared in a latest X post that the U.S. Republican Representatives recently hosted a “Crypto Power Lunch” to discuss upcoming digital asset policies and potential legislation. The event was attended by key political figures, including Majority Whip Tom Emmer and Representative Bryan Steil, who leads the Digital Assets Subcommittee. https://twitter.com/EleanorTerrett/status/1897458308245553228 …
The total crypto market cap (TOTAL) has recovered slightly as Bitcoin (BTC) helped the altcoins pull up as well. Ondo (ONDO) emerged as the leader of the crypto tokens, rising by 23% in the last 24 hours.
In the news today:-
CFTC acting chair Caroline Pham revealed that the CFTC and SEC are in talks for further collaboration on digital asset regulation. Both agencies aim to enhance their joint efforts for the benefit of the public and the market.
Bitwise has filed to create an Aptos ETF, leveraging the recent Delaware Trust application. Despite the SEC’s high volume of ETF applications, the filings have sparked bullish momentum for Aptos.
The Crypto Market Moves Up
The total crypto market cap surged by $127 billion over the last 24 hours, reaching $2.95 trillion. This brings it closer to the key resistance level of $3.00 trillion. The rise in market cap signals positive sentiment, depending on broader market cues.
The recent decline in volatility has helped cool the market, allowing for a period of consolidation. This reduced volatility provides the crypto market with room to grow. If TOTAL manages to break through the $3.00 trillion resistance and convert it into support, further upward movement toward $3.09 trillion is possible.
Total Crypto Market Cap Analysis. Source: TradingView
However, should the crypto market cap fail to breach the $3.00 trillion mark, it may struggle to gain traction. Falling through the support at $2.93 trillion could lead to a correction, erasing some of the recent gains.
Bitcoin Is Close To Claiming Key Support
Bitcoin is currently trading at $91,717, just under the key resistance level of $92,005. The altcoin is attempting to continue its uptrend, with the next major hurdle at $93,625. If it successfully breaches this level, Bitcoin could experience significant gains, attracting further investor interest in the short term.
The price of Bitcoin is poised for a potential rise, depending on investor behavior. If the selling pressure remains low after $92,005 is surpassed, Bitcoin could breach $93,625 and flip it into support. This would provide strong momentum, pushing the price further towards $95,761 and boosting market sentiment.
However, the bullish outlook could be invalidated if Bitcoin fails to maintain its momentum. A lack of buying pressure could lead to a decline below the support at $89,800, which could trigger a further drop to $87,041.
Ondo Jumps Massively
ONDO price has surged by 24% in the last 24 hours, trading at $1.19 after breaching the key resistance of $1.10. With strong buying pressure, the altcoin is now targeting the next major resistance level at $1.27, signaling a potential continuation of the upward momentum in the short term.
To continue its uptrend, ONDO will need strong inflows. If the altcoin successfully flips $1.27 into support, it could see further growth, reaching the $1.48 target. This upward momentum is contingent on sustained investor interest and the ability to maintain support levels for continued price action.
However, sharp selling could reverse the positive trend. If ONDO loses the support of $1.10, it could face a decline, testing lower support levels like $0.96. This potential drop would invalidate the bullish thesis, erasing recent gains and jeopardizing the altcoin’s recovery.
Asset Manager Canary Capital has filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) tied to Axelar (AXL).
This marks the first-ever filing for AXL, the native cryptocurrency that powers the Axelar Network, setting the stage for the token’s institutional adoption.
Canary Capital Files for AXL ETF
The filing, which was submitted on March 5, outlines that the fund’s net asset value (NAV) will be calculated based on the price of AXL. However, specifics regarding the exchange where the ETF will be listed, its ticker symbol, and the custodian remain unspecified.
The proposed ETF builds on Canary Capital’s earlier efforts to bring Axelar to institutional investors. On February 19, the firm launched the Canary AXL Trust. The trust was Canary Capital’s first step into structured AXL offerings, and the ETF filing represents an extension of this effort.
“With Axelar driving some of the most advanced interoperability solutions in Web3, we see in AXL a significant opportunity for institutional investors to gain exposure to the technology underpinning next-generation blockchain connectivity,” Canary Capital’s CEO Steven McClurg said.
The news of the filing had an immediate impact on the market. AXL’s price jumped 14.3%, reaching $0.44.
Trading volume also spiked to $35.7 million. This marked a 131.8% increase from the previous day. With a market capitalization of $405.5 million, Axelar currently ranks 174 on CoinGecko.
Crypto ETFs Under Donald Trump: Opportunity or Bubble?
Canary Capital’s filing comes amid a broader surge in cryptocurrency ETF applications in the US, a trend that has accelerated since Donald Trump took office. According to Kaiko Research, more than 45 crypto ETF filings are currently pending SEC approval.
Nonetheless, according to Kaiko Research, market depth, concentration, and trading structure present significant obstacles for non-BTC/ETH ETFs. Many altcoins associated with ETF applications suffer from shallow liquidity, making them more susceptible to price manipulation and volatility.
Additionally, most trading activity for these assets occurs on offshore platforms, creating transparency and regulatory oversight issues. The lack of sufficient USD trading pairs for certain assets further complicates their inclusion in ETFs, as these pairs are essential for accurate ETF valuations. Furthermore, the absence of regulated futures markets for many cryptocurrencies limits available trading strategies.
“All of these factors could limit the demand for more crypto-related ETFs going forward. While approval processes might change, market dynamics still have to catch up,” Kaiko noted.
For now, AXL has been added to a growing list of crypto ETF filings. However, its success—and that of similar ETFs—remains to be seen.
Bitcoin has seen some volatility recently, with its price facing significant challenges. Despite these setbacks, the cryptocurrency is forming a bullish pattern.
Investors, particularly short-term holders (STHs), have shown resilience by moving towards accumulation, which supports the notion of potential recovery in the coming weeks.
Bitcoin Investors Are Hopeful
Bitcoin’s realized losses have been a key indicator of the current market’s struggles. This week, the realized losses across all market participants reached $818 million per day, which is among the highest values in recent times. The only larger recorded loss was the yen-carry-trade unwind on August 5, 2024, which totaled $1.34 billion.
These substantial losses reveal that many investors have been forced to sell their positions below their cost basis, pressured by the ongoing market downturn. Despite this, the significant realized losses suggest that many investors are feeling the weight of the current volatility, yet some continue to hold their positions.
On a more positive note, Bitcoin’s network growth has been on the rise. The number of short-term holders has increased, with 50,000 more wallets on the network compared to a month ago. Specifically, there has been a rise of 37,390 new wallets holding less than 0.1 BTC, and 12,754 wallets holding between 0.1 and 100 BTC.
The growth in the number of Bitcoin wallets reflects strong conviction among these short-term investors. Despite the ongoing price fluctuations, their continued involvement in the market indicates that many are looking beyond the current downturn. This is an important factor in supporting Bitcoin’s potential recovery, as it suggests that the base of holders remains strong and that interest in the cryptocurrency is far from fading.
Bitcoin’s price has shown a 6% recovery in the last 24 hours, trading at $92,776 as of the latest update. The cryptocurrency is nearing the critical resistance level of $93,625, which it has struggled to breach in recent days. A successful breach of this resistance could mark the beginning of a bullish breakout, pushing Bitcoin higher.
If Bitcoin manages to flip $93,625 into support, it could pave the way for a rise towards $95,761. Such a move would also indicate a potential breakout from the descending broadening wedge pattern that has dominated the market in recent weeks. Should this happen, Bitcoin could find itself heading towards the psychologically significant $100,000 mark, marking a strong recovery from its recent volatility.
However, if Bitcoin fails to break through $93,625, it could fall back to the $89,800 support level. A failure to hold at this point could delay the recovery further and even push Bitcoin to test lower levels, with $87,041 acting as a crucial support. A move below this level would invalidate the bullish outlook and extend the current downtrend.
In recent months, Solana has demonstrated remarkable growth in the decentralized finance (DeFi) sector, prompting discussions about its potential to rival Ethereum’s valuation.
A new report by Franklin Templeton highlighted that Solana’s DeFi protocols are among the most utilized and highest-earning platforms across all blockchain environments.
Franklin Templeton Predicts Solana as Ethereum’s Rival
In an analysis, Franklin Templeton highlighted the rapid growth and potential of Solana’s DeFi ecosystem. The report suggested that its valuation could soon rival Ethereum’s.
The global asset management firm, which oversees $1.68 trillion in assets, noted that six Solana-based protocols surpassed $1 billion in Total Value Locked (TVL).
During the third and fourth quarters of 2024, Solana outperformed Ethereum in several key metrics. Solana’s decentralized exchange (DEX) volume notably exceeded that of Ethereum and all Ethereum Virtual Machine (EVM)–based DEXs combined.
The surge indicates a significant shift in DeFi activity towards Solana, challenging Ethereum’s longstanding dominance in the space. Jito (JTO) leads the charge, a liquid staking protocol that recently reached an all-time high of $3 billion in TVL. Notably, this marked the first time a Solana-based protocol has achieved this milestone.
Other notable protocols include Jupiter (JUP), Raydium (RAY), Kamino (KMNO), Marinade (MNDE), and Sanctum Coin (SANCTA). Collectively, these protocols contributed to Solana’s growing DeFi ecosystem.
Further emphasizing its growing prominence, Solana’s active addresses per hour were reported to be 26 times higher than Ethereum’s as of January 2025. This surge in user activity reflects the network’s scalability and efficiency, making it an attractive platform for developers and investors seeking faster transactions and lower fees.
Despite the impressive growth, Franklin Templeton’s report points out that Solana’s DeFi protocols remain undervalued compared to their Ethereum counterparts. The analysis reveals that Solana’s DeFi tokens are trading at lower valuation multiples, although they exhibit higher growth profiles and strong fundamentals.
“Solana DeFi valuation multiples trade on average lower than their Ethereum counterparts despite significantly higher growth profiles. This highlights an apparent valuation asymmetry between the two ecosystems,” an excerpt in the report read.
Notwithstanding, Franklin Templeton says the increased activity has also contributed to Solana’s rising market capitalization and overall ecosystem growth. According to the asset manager, these discrepancies suggest a potential investment opportunity as the market adjusts to recognize Solana’s expanding influence in the DeFi sector.
Reflecting this optimism, Franklin Templeton filed for a spot Solana ETF (exchange-traded fund) with the US SEC. Notably, the proposed ETF includes staking capabilities. This means investors can earn rewards by participating in network validation processes, which is the first for a Solana-based ETF.
Solana Rising – Could It Overtake Ethereum?
While some investors are enthusiastic about Solana’s potential, others remain skeptical. A user on X (Twitter) challenged the move to compare Solana to Ethereum, alluding to stark differences in foundational robustness.
“It’s like comparing Ethereum versus Las Vegas casino. Yea Vegas has more chips,” the user quipped.
Similarly, industry analysts caution against assuming Solana is poised to surpass Ethereum imminently. Juan Pellicer, Senior Research Analyst at IntoTheBlock, noted that while Solana has narrowed the market capitalization gap with Ethereum, it still faces significant hurdles.
“While Solana may continue to grow and potentially challenge Ethereum in specific niches, overcoming Ethereum’s entrenched position as the dominant platform in the immediate future is still unlikely, though the competitive landscape is dynamic and evolving,” Pellicer told BeInCrypto.
Specifically, Pellicer emphasized that Ethereum benefits from established trust and a vast developer community. According to the analyst, these are critical factors in maintaining its leading position in the DeFi space.
He also highlighted the need for Solana to address centralization concerns and achieve parity in developer adoption. These, according to the analysts, would see Solana truly challenge Ethereum’s dominance.
As Solana continues to innovate and expand its DeFi ecosystem, its potential to reach valuations comparable to Ethereum becomes more plausible.
