Cardano’s TVL Hit $250M, VanEck Gives Solana Prediction, While Bitcoin Spark Introduces Smart Device Mining

The recent crypto market rally has sparked excitement among investors, with Cardano, Solana, and Bitcoin Spark topping the news. While the TVL of Cardano has crossed $250 million, VanECK has given a strong Solana prediction. Meanwhile, Bitcoin Spark looks to transform the mining sector by allowing smart devices to join the process. 

Visit the Bitcoin Spark ICO For A Second Chance At Joining Bitcoin Early

The Cardano TVL Has Crossed $250 Million

The decentralized finance (DeFi) of Cardano has increased significantly in 2023. Year-to-date (YTD), the TVL locked on the Cardano network has increased by more than 300%. According to a recent Cardano news update, the TVL of the network has increased past $250 million.

The Cardano network has grown significantly. The stablecoin market cap of Cardano has also crossed $15.93 million. In addition, the DeFi trading volume now averages over $2.82 million daily, with over 39,000 active addresses.

The Cardano coin, ADA, has not increased as much as the DeFi ecosystem. Year-to-date, the ADA price performance has been poor, rising by only 17%. However, crypto analysts have predicted that if ADA crosses the $0.30 resistance, it could rally as high as $0.55 soon.

VanECK Predicted a Massive Rally for Solana

Solana (SOL) has outperformed the cryptocurrency market in 2023. YTD, the Solana price has increased by more than 225% to rally above $32 in October. However, VanECK, a top asset management company, has forecasted even more gains. 

The price forecast from the VanEck report stated that the Solana coin, SOL, could increase by 10,600% by 2023. This makes SOL a top crypto to buy for long-term investors. A rally on the Solana chart of this magnitude will take SOL to $3,211. The report added possible scenarios for this price movement to happen.

VanECK added that Solana could become the first blockchain to support over 100 million users. In other Solana news, the firm estimated that the Foundation behind the project could earn up to $8 billion in revenues if the network enjoys mainstream adoption.

Bitcoin Spark Has Introduced Smart Device Mining

Bitcoin Spark has emerged as one of the top Bitcoin forks – a split from the original Bitcoin blockchain. However, this new hard fork has introduced comprehensive solutions to some of the problems that have limited the adoption of Bitcoin.

For example, Bitcoin Spark has addressed the mining dilemma by introducing a refined Proof of Process (PoP) mechanism. PoP features a mixed PoS PoW for a more energy-efficient process. As a result, network users can mine BTCS tokens with their smart devices and stable high-speed internet.

The Bitcoin Spark mining rewards are distributed non-linearly to discourage decentralization and monopoly of the network. Meanwhile, the PoW features also ensure that the Bitcoin Spark network has the same level of security and privacy as Bitcoin.

The project has emphasized affordability, mirroring the early days of its launch. As a result, Bitcoin Spark is currently in stage nine of its ICO sales, with the BTCS token trading at $3.50 and a 5% bonus on every purchase. 

Find out more about the Bitcoin Spark ICO below:

Website | Buy BTCS

Disclaimer: We advise readers to do their own research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in cryptoassets is high-risk; consider the potential for loss. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.

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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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