Altcoin
These 2 Powerful Altcoin Projects Dethroned Their Rivals!
jitodecentralized staking platform Liquid, recently surpassed Lido to take the top spot among the top fee-generating protocols across Blockchain. As such, it has attracted considerable attention among market participants. Meanwhile, Solana, a competitor to major altcoin Ethereum, surpassed Binance Coin to become the fourth-largest cryptocurrency by market cap.
DeFiLlama: Jito Overtakes Lido and Takes the Lead!
Jito surpassed Lido in 24-hour fare collection today, according to DeFiLlama data. According to the data, the Solana-backed platform has collected a staggering $3.27 million in fees in the last 24 hours, while Lido has trailed Jito with $2.94 million collected in the same time frame. However, comparing the weekly charts for fee collections, one can see that Lido has maintained its higher position with $20.83 million generated compared to Jito’s $11.12 million.
Meanwhile, other notable players in the list include Raydium at third place, followed by Solana and Ethereum when comparing the 24-hour fee generation model. It is worth noting that Jito is a MEV-powered liquid staking protocol that offers SOL staking while generating revenue in the system’s native token, JTO. Lido, on the other hand, is a liquid staking protocol for Ethereum and Polygon with the native token LDO.
JTO and LDO Market Performance
JTO The price traded in both red and green zones during the day. The altcoin reached $3.27 at the time of writing, up 5.24% on a daily basis. The 24-hour lows and highs of the price were recorded at $3.02 and $3.33, respectively. LDO price increased by 2.68% to $1.61 during the same period. The 24-hour lows and highs of the price were recorded at $1.56 and $1.66, respectively.
Meanwhile, JTO OI futures fell 1% to $58.06 million in line with the volatile price movement. Meanwhile, also I DO futures fell 1.75% to $94.71 million. However, the success of Jito mentioned above remains a topic of interest as it could lead to more interest in the ecosystem and use of the platform. This could prove to be a bullish direction for the JTO token. This is because higher fee collections will ultimately increase the value of the platform and have a relative impact on the cryptocurrency.
Major Altcoin Competitor Solana Ousts BNB!
Solana (SOL) has surpassed Binance Coin (BNB) to become the fourth largest cryptocurrency by market cap. In the process, SOL has reclaimed the important $190 level. As you have been following on Kriptokoin.comThe cryptocurrency market as a whole has benefited from recent developments and broader market support. While the launch of the Ethereum spot ETF has not had a significant impact on prices, the recent Bitcoin conference seems to have boosted investor confidence.
From Solana The price action shows a strong upward movement which indicates a bullish momentum. The price rose from around $183 to $193, signaling a strong bounce and buying interest. The price found initial support at $182, the lower limit of the day’s price action, before starting an uptrend. Another minor support level was observed at $186, where the price experienced a brief consolidation before resuming its uptrend. Currently, the price is facing resistance at $193. According to analysts, a break above this level on strong volume could lead to further upside.
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