Syscoin (SYS) has spiked 40% over the last 24 hours to around $0.26. Crypto analyst Grover explained why he is bullish on Syscoin for 2024, stating: “Syscoin will be one the biggest success stories of 2024. These guys have been building non stop since 2015 and this year it will all come together.”
He notes that Syscoin combines the security of Bitcoin with the functionality of Ethereum. Specifically, Syscoin utilizes a dual-layer architecture with its own Proof of Work blockchain along with an EVM layer for Ethereum smart contract compatibility. With features like instant transactions via Z-DAG, tokenized assets, and ERC-20 token support, Grover sees a breakout year for the hybrid blockchain.
Smooth Love Potion Eyes Monthly Breakout
Smooth Love Potion (SLP) rallied 55% in the last 24 hours trading to $0.007. Analyst Cryptoworld highlighted SLP’s bullish monthly chart, stating that the price looks ready to test some range high with his analysis suggesting a peak around $0.4. That would represent an additional 5,500% rally from the current SLP price.
As Cryptoworld notes, SLP tokens power Axie Infinity and are used for breeding Axies and various in-game actions. The recent price bump may suggest renewed gaming and NFT interest could lift SLP back toward its 2021 peak.
Jupiter Following Uniswap’s Path?
Finally, Jupiter (JUP) gained over 15% as analyst Alpha Ape discussed the protocol’s similarities to leading DEX Uniswap and how it could capture significant value. With new aggregation features, Jupiter now offers a hybrid DEX and liquidity hub that could make it a top decentralized exchange on Solana.
Considering Uniswap peaked above a $20 billion market cap last cycle, Alpha Ape suggests Jupiter could reach at least 25% of that level or $2 billion. That would represent massive upside from its current sub-$500 million valuation.
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