Solana may be overvalued right now, but that is not problem for altcoin
In 2021, Solana experienced substantial growth due to the advocacy of Sam Bankman-Fried , a prominent figure in the blockchain industry. This entrepreneur's efforts effectively elevated the altcoin's visibility, contributing to its success.
The impact of Sam Bankman-Fried on Solana was significant, to the extent that the altcoin was often referred to as"Sam's cryptocurrency." Unfortunately, when SBF's, the SOL token experienced a dramatic drop, losing 60% of its market capitalization within a week. This decline was further exacerbated by the suspension of projects on the Solana network.
It aims to compare the total value of assets on the platform with the total value of assets locked as collateral for decentralized financial protocols. A higher MC/TVL ratio implies a higher degree of utilization and trust in the DeFi platform. When a network's MC/TVL exceeds 1.0, it suggests an overvaluation of the network, which can result in a price correction.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
'Solana Killer' Aptos (APT) Soars 390% and Becomes Most Profitable Crypto of Month, Here's How$APT becomes the main sensation of 2023 as of now, showing almost 400% growth in January aptos apt aptusdt solana sol $sol
Baca lebih lajut »
GBP/USD Price Analysis: Finds demand below 1.2350 as USD Index dropsThe GBP/USD pair has sensed a buying interest after dropping below 1.2340 in the Asian session. On Monday, the Cable witnessed selling pressure after
Baca lebih lajut »
EUR/USD drops further below 1.0850 as USD Index recovers firmly, Eurozone GDP eyedThe EUR/USD pair has extended its downside move below 1.0850 after an intensive selling action by the market participants around 1.0860. The pullback
Baca lebih lajut »
USD Index extends the breakout of 102.00 ahead of dataThe greenback extends the rebound and now looks to consolidate the recent breakout of the key 102.00 hurdle when gauged by the USD Index (DXY). USD In
Baca lebih lajut »
US: Employment Cost Index rises by 1% in Q4 vs. 1.1% expectedThe data published by the US Bureau of Labor Statistics revealed on Tuesday that the Employment Cost Index, compensation costs for civilian workers, i
Baca lebih lajut »