This New DeFi Project Has 500% More Search Volume Than Solana, Expected to Return 3000% in 2024
Solana (SOL) is fixing its long-sluggish movement with a remarkable surge in its on-chain activity. According to DefiLlama, the chain has gradually increased its total value locked (TVL) to $3 billion. After a 5-hour network outage in early February, March is seeing a phenomenal DEX trading volume that touched $2.85 billion.
A spike in on-chain traffic was triggered by high trading activity and more transactions. This sudden surge has raised speculations about the network’s potential strain. Following high activity in the first week of March, Solana saw a minor volume decline to $2 billion from a record high of $2.85 billion on March 5.
According to DeFiLlama, from March 3 to March 6, the DEX trading volume on the Solana has exceeded $2 billion for four days, with the trading volume reaching $2.85 billion on March 5, setting a new single-day high. The activity of on-chain transactions may be one of the reasons…
— Wu Blockchain (@WuBlockchain) March 7, 2024
Solana’s sustainability faces criticism due to historical network outages
Solana has regained its upward trajectory with a 13% gain in the last week. Pantera Capital’s strategic move to acquire $250 million in SOL tokens from FTX assets has sparked confidence across the market. Within just 24 hours, SOL’s market capitalization soared beyond $65 billion.
i dont think yall understand how bullish this is
— Ansem 🐂🀄️ (@blknoiz06) March 7, 2024
pantera guys are the OGs of OGs, they were around buying bitcoin sub $100 in 2013 when barely any ppl believed in crypto
SOL is still the most mispriced asset in the space and ive been saying this since 7x ago https://t.co/IrhzRCItSi
The growing number of active Solana users and on-chain transactions demonstrates the platform’s increasing significance. However, due to Solana’s historical instabilities, such as outages and increasing centralization, the crypto community is skeptical about the project’s ability to manage the current high trade volume and on-chain activity without compromising performance.
However, Solana has shown remarkable traction in March. While some investors are exploring more secure investment avenues with solid TradFi propositions, Algotech is emerging as a contender. The 500% increase in search volumes for Algotech over those for Solana indicates a significant change in investor sentiment.
Algotech Ready to Surpass Solana in DeFi Performance with Massive Search Volume
(ALGT) is emerging as a promising opportunity in the DeFi space with ever-increasing traction. The algorithmic trading platform leverages advanced machine learning to empower traders. Algotech has strategically emerged as a significant competitor for SOL, raising $1.9 million in public presale and reaching 5,000 unique holders within two weeks.
The project will become a major stakeholder as it approaches the bull run. With presale demand heating up and 45 Million ALGT sold, a massive surge above the current level is expected. The deflationary ERC-20 coin is also backed by solid tokenomics that ensure continued reinvestment into development to support the growth of the TradFi Platform.
Community members of Algotech are entitled to profit shares and have access to advanced trading strategies, including hedging, mean reversion, and algorithmic consolidation.
Due to the project’s outstanding performance at the start of 2024, Algotech has sold out its presale Stage 1, and the token price is now $0.06. This will increase to $0.08 in the next round. Analysts predict its value will reach an all-time high of $1 due to increased investor attention and on-chain activity in the upcoming months.
Learn more:
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.
