Connect with us

Solana

Solana VCs Hold More Than 30% Supply, Is There Something Needs To Be Worried

Published

on

Solana VCs Hold More Than 30% Supply, Is There Something Needs To Be Worried

The Solana project can topple if the VCs decide to withdraw their investment.

Key Points:
  • Solana has tanked during the current bear market
  • VCs withdrawals could collapse the coin
  • Non-VCs backed projects like Bitgert are more resilient

The current crashing of Terra LUNA has attracted a lot of attention in the market, as the experts try to analyze what could have caused the problem. However, the issue of VCs-funded projects has been coming up. VCs withdrawing funds is the potential to crash a project.

There are many crypto projects that are VCs backed, and one of them is Solana. In fact, Solana has more than 30% of its supply backed by VCs. What does this mean for the Solana project? Is there something that Solana investors should be worried about? Well, probably not because Solana is a solid project with real use cases.

But the fact that +30% supply is under VCs still puts Solana in the category of the crypto projects that can be destabilized easily. The Solana project can topple if the VCs decide to withdraw their investment. This could explain why Solana has been one of the most affected coins by the current bear market.

The huge withdrawals, probably by some of the VCs have been causing the Solana price plunges. However, there are coins that have proven super resilient during the bearish market. Among the projects that have grown without VCs is Bitgert (BRISE).

Bitgert managed to reach a $700M marketcap without VCs. Unlike Solana, the Bitgert team has built the project from scratch with VCs. That’s why Bitgert maintained a stable price during the bearish market. Bitgert has attracted thousands of investors with the revolutionary blockchain project it is building.

Looking at the Bitgert ecosystem shows a crypto project that is becoming the next big thing in the industry. The Bitgert team has already launched the Bitgert BRC20 blockchain, which is the chain that all its products and projects are running. Note that the Bitgert blockchain is the first chain to overtake Solana blockchain speed.

But the most anticipated is the Bitgert roadmap V2, which the Bitgert team has just launched. Even without VCs, Bitgert has already delivered the roadmap V1. Bitgert is now taking the ecosystem growth further with the roadmap V2, which will make the Bitgert ecosystem even larger than the Solana ecosystem.

In conclusion, most VCs backed projects have wobbled during the bear market, with Solana being an example. But projects like Bitgert, which do not have VCs, have resilient to crashing markets. Solana investors may have nothing to worry about, but Solana will never be as stable as Bitgert, with VCs holding 30% supply.

The post Solana VCs Hold More than 30% Supply, Is there Something Needs to be Worried appeared first on .

Advertisement

Analysis

Biggest Movers: XMR And SOL Higher On Monday

Published

on

Biggest Movers: XMR And SOL Higher On Monday

Despite BTC and ETH trading lower on Monday, several cryptocurrencies managed to move higher to start the week. XMR was one of the biggest climbers, with solana also moving higher during the session.

Monero (XMR)

XMR was one of Monday’s biggest gainers, as prices rose by almost $20 from lows during Sunday’s session.

Following a low of $128.00 on Sunday, XMR/USD rallied to an intraday high of $174.62 to start the trading week.

Monday’s top came as prices surged for four consecutive sessions, hitting a near one-week high in the process.

XMR/USD – Daily Chart

Since these highs earlier in the day, XMR is now trading marginally below a ceiling of $173.00, as bullish strength faded as the day progressed.

The 14-day RSI is now trading at a resistance level of its own, which is below 43.14, and should it break, we could see XMR break resistance for the first time since March.

Should this happen, prices could move closer to the $200 region. A point which monero last hit only eight days ago.

Solana (SOL)

Following three consecutive sessions of gains, SOL was also higher to start the week, however prices declined as the day progressed.

Advertisement

On Sunday, SOL/USD finished the day trading at $53, and went on to hit a peak of $58.88 during the early part of Monday’s session.

Since then, prices have slipped, and as of writing SOL is currently trading at a level of $52.32, which is close to a one-week low.

SOL/USD – Daily Chart

Overall, SOL has dropped by over $100 since the beginning of April, with prices dropping below $35 last Thursday.

Looking at the chart, the 14-day Relative Strength Index is now tracking at 33.26, which is marginally below a ceiling of 36.

Bulls are likely going to attempt to push prices towards $70, if price strength moves past the current obstacle in the RSI.

Could we see runs higher in upcoming sessions? Let us know your thoughts in the comments.

Eliman Dambell

Eliman brings a eclectic point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Advertisement
Continue Reading

Solana

Solana Killer Bitgert Has Been Integrated On CoinMarketCap

Published

on

Solana Killer Bitgert Has Been Integrated On CoinMarketCap

The Bitgert team is building a powerful blockchain ecosystem that will take Solana out of the market.

Key Points:
  • Bitgert is CoinMarketCap integrations to surge BRISE price
  • The integration will increase Bitgert adoption
  • Bitgert to become stronger than Solana project

The Bitgert (BRISE) team has confirmed that the Brise chain is now fully integrated on Coinmarketcap. This is good news for the Bitgert investors because the move is going to make the coin do well in the market. The integration of Bitgert to CoinMarketCap is going to make Bitgert more competitive against Solana and many other projects.

The update was announced on various Bitgert social medial platforms, including the project’s official Twitter handle. It is one of the moves that has excited the Bitgert community in the recent past. The huge potential that the CoinMarketCap integration has on this project is what has made it the most discussed topic over the past few days.

The Bitgert integration on CoinMarketCap means a lot for this project in terms of growth. The integration is not only giving the Bitgert project exposure but also credibility in the market. It has increased the confidence that the crypto community has in the Bitgert project.

Bitgert is going to become more competitive in the industry with the CoinMarketCap integration. The demand for the coin has started skyrocketing due to the growing number of new investors. Therefore, this is a move that is taking Bitgert closer to killing Solana.

Note that Bitgert has been said to be the Solana killer because of the kind of project the team is building. The Bitgert team is building a powerful blockchain ecosystem that will take Solana out of the market. This is why Bitgert has been referred to as the Solana killer.

Already, Bitgert has built and launched its blockchain, BRC20 blockchain, which is faster and cheaper than Solana. In fact, Bitgert has taken what has made Solana the best blockchain project in the market, which is the Solana chain speed. After reaching a 100k TPS, Bitgert now stands as the fastest blockchain in the market.

The Bitgert ecosystem is also growing faster, with more exciting products and projects joining the ecosystem. The team has been launching products faster than Solana. That’s why the Bitgert ecosystem is growing faster than the Solana ecosystem. Therefore, the adoption of Bitgert is projected to grow tremendously with the CoinMarketCap integration.

The bottom line is that Bitgert integration on CoinMarketCap is good for this project. It is going to increase Bitgert visibility and increase the project’s credibility. The integration makes Bitgert more aggressive and will now be able to overtake Solana, and many other crypto projects it is expected to kill.

The post Solana Killer Bitgert Has Been Integrated On CoinMarketCap appeared first on .

Advertisement

Continue Reading

Aave

Trust In Decentralized Finance Rattled After $100 Billion Left The Defi Economy

Published

on

Trust In Decentralized Finance Rattled After $100 Billion Left The Defi Economy

The effect of Terra’s demise continues to shine a light on the fragility surrounding the decentralized finance (defi) ecosystem. Things have changed a great deal following Terra’s aftermath, as the total value locked (TVL) in defi has plummeted from $231 billion to today’s $112.29 billion, losing 51.38% in 42 days.

Defi TVL Plunges More Than 50% Since April 3, Terra Implosion Impacts Defi Economy the Most

The total value locked in defi today is just above the $100 billion mark at $112.29 billion. While the TVL has been sliding since almost reaching an all-time high on April 3, last week’s Terra chaos removed most of the TVL held in decentralized finance protocols.

In addition to commanding a $231 billion TVL 42 days ago on April 3, the Terra blockchain held $30.45 billion or 13.15% of the $231 billion aggregate at that time. Terra held the second-largest TVL in defi and today, Terra is in the 14th position with only $500.38 million.

Total value locked (TVL) in decentralized finance (defi) on May 15, 2022.

Out of Sunday’s $112.29 billion, Ethereum dominates the TVL in defi with 63.63% of the aggregate in defi or $71.09 billion. The second-largest TVL in defi is tethered to Binance Smart Chain (BSC) with 7.71% of the $112.29 billion or $8.62 billion held on BSC.

Another significant change this week that occurred was the downfall of Curve’s defi dominance, as Makerdao is now the largest defi protocol in terms of TVL size. Makerdao dominates by 9.40% with its $10.56 billion TVL and Curve now holds $8.76 billion.

Curve’s current TVL is a lot different than it was on April 3, when it was $21.17 billion roughly 42 days ago. The top 28 defi protocols today have seen significant TVL reductions during the past seven days. While Makerdao leads it is still down 13.73% this week and Curve is down 49.18% this past week as well. Lido has shed 46.37% and the defi application Aave has lost 21.94% this week.

After being the third-largest defi application in terms of TVL a week ago, Anchor has dropped to the 58th position after losing 97.76% this week. Stats show that Anchor has $309.78 million total value locked in the lending protocol today.

17 defi protocols have at least $1 billion or more as far as TVL size is concerned. There’s still $419 billion in smart contract protocol tokens today with ethereum leading the pack. Terra now holds the 18th position in terms of smart contract platform token market capitalizations.

Advertisement

While Terra’s issues rippled across the entire crypto-economy, the carnage affected decentralized finance the most. Not only was trust shaken to the core, but well over $100 billion was removed from defi in less than a week’s time.

It’s likely going to take some time before trust is regained, and the $100 billion lost is added back to the defi ecosystem. Out of all the defi chains, Ethereum benefited the most as dominance has increased a great deal since last week. Although, Ethereum still felt the impact, as the chain lost 31.53% during the past seven days.

Tags in this story

Aave, Anchor, Arbitrum, Avalanche, Binance Smart Chain, Bridges, BSC, Cross-chain Bridges, crypto assets, cryptoslam.io, Curve.finance, decentralized finance, DeFi, Defi Apps, Defi protocol, defi value locked, defillama.com, Ethereum, Fantom, lending app, Lido, makerdao, NFT sales, Polygon, ronin, Solana, Terra

What do you think about the state of defi today? What do you think about the trust that’s been lost and the $100 billion wiped away from the defi space? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Advertisement

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Continue Reading

Trending