BNB Chain has announced the launch of the TVL#4 Incentive Program, aimed at accelerating the growth of DeFi ecosystems on BNB Chain. With a prize pool of up to $300,000, the program focuses on expanding Total Value Locked (TVL) and staking challenges.Program BreakdownThe TVL#4 Incentive Program is divided into two parts:Part A: BNB Staking Challenge – $100,000 prize poolPart B: TVL Challenge – $200,000 prize poolRegistration Period: September 5, 2024, until the event ends.Part A: BNB Staking Challenge ($100,000)Challenge Period: September 12, 2024 – October 11, 2024Eligibility: Open to DeFi platforms supporting BNB staking.Ranking Criteria: 80% based on incremental BNB locked and 20% based on liquid staking BNB.Reward Structure:Top 1: $50,000Top 2: $30,000Top 3: $20,000Part B: TVL Challenge ($200,000)Challenge Period: September 12, 2024 – October 11, 2024Eligibility: Open to all DeFi projects deployed on opBNB or BSC after January 1, 2023, and has undergone at least one security audit.Dynamic Prize Pool: Based on collective TVL growth, up to $200,000.Reward Structure:Top 1: 40% of the dynamic reward poolTop 2: 30%Top 3: 20%How to ParticipateComplete the registration form for either Part A, Part B, or both, including project name, chain (opBNB or BSC), and Defilama link.

At a recent Bitcoin Conference, industry experts expressed strong confidence in the future of cryptocurrencies, highlighting their potential for substantial growth. Notably, the U.S. government is expected to maintain Bitcoin reserves, signaling institutional trust in digital currencies. The bright future of cryptocurrencies is further bolstered by the support of prominent figures like Donald Trump and Robert Kennedy Jr., adding significant credibility and momentum to the market. Readers will discover which coins could experience unprecedented growth in this evolving landscape.

Polygon (MATIC) 

Polygon (MATIC) is showing resilience in a fluctuating market, currently trading between $0.52 and $0.57. Despite recent challenges, with a slight 6.27% dip this week and a 37.52% decrease over the past six months, there are promising signs on the horizon. The nearest resistance level is at $0.60, with support at $0.48. Technical indicators, such as the Relative Strength Index (RSI) at 36.54, indicate that MATIC is nearing an oversold condition. This suggests potential for a bullish turnaround. If the bulls gather momentum, MATIC could break the $0.60 resistance, potentially achieving a 10% increase. Surpassing the second resistance at $0.65 could pave the way for even greater gains.

Solana (SOL) 

Solana is currently trading between $159.42 and $197.37, showcasing its potential in the dynamic market. The coin has experienced a promising 6.03% increase in the past week and an impressive 23.11% rise over the past month. The Relative Strength Index (RSI) of 49.85 indicates a balanced market, while the Moving Average Convergence Divergence (MACD) at 0.384 suggests mixed momentum.

If bullish trends prevail, Solana could challenge its nearest resistance at $210.23, representing potential growth of over 13%. Even with the possibility of bearish forces causing a dip towards the support level at $134.33, a decrease of about 25%, Solana's recent 6-month rise of 81.20% highlights its capability for significant gains. The future looks bright for Solana as it continues to gain broader acceptance and integration into the financial ecosystem.

Avalanche (AVAX) 

Avalanche (AVAX) is currently trading between $28.31 and $35.01, demonstrating resilience in the face of market fluctuations. Although the bears have a slight edge, the coin is poised for a potential breakthrough. With the nearest resistance at $37.36, breaking past this level could lead to a surge towards $44.07, representing an impressive potential rise of over 20%.

The support level is firmly at $23.95, and even if bearish pressure increases, the coin's fundamentals remain strong. Notably, the Relative Strength Index (RSI) at 32.38 indicates that AVAX is near oversold territory. This suggests that a bullish turnaround could be imminent, providing an opportunity for prices to rise significantly.

Toncoin (TON)

Toncoin (TON) is currently trading between $6.90 and $7.55, navigating a challenging yet promising market landscape. Despite a recent 10% drop over the past week and a 16% decline over the past month, there are positive indicators for future growth. The current support level around $6.62 provides a foundation for potential upward movement.

Should momentum build, Toncoin could test the resistance at $7.93, marking a potential 15% increase. Impressively, over the past six months, Toncoin has experienced growth of over 200%, highlighting its robust potential. Although the relative strength is currently low, this indicates that there is significant room for upward movement with the right market push.

With a solid track record of growth and the potential for future gains, Toncoin remains a compelling prospect for investors looking towards the future.

Conclusion

Experts at the recent Bitcoin Conference are optimistic about cryptocurrencies, predicting significant growth. The U.S. government's likely Bitcoin reserves boost market trust, further supported by figures like Donald Trump and Robert Kennedy Jr.

Polygon (MATIC) shows resilience, with potential for a bullish turnaround. Solana (SOL) is poised for growth with balanced indicators. Avalanche (AVAX) may see a bullish turnaround soon, and Toncoin (TON) has shown strong growth and future potential despite recent declines.

As Bitcoin's influence grows, these altcoins are well-positioned for unprecedented growth, making them promising investments for substantial returns by 2025. Investors should monitor market signals and consider these top contenders.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 

Solana (SOL) price has been rising steadily over the past two weeks, reaching $185. The return to this level has seen SOL surpass BNB in ​​market cap, rising to fourth place on the list of largest cryptocurrencies.

Institutions Choose Solana

One of the main factors driving the price of SOL has been the recent approval and subsequent launch of a spot ETF on Ethereum . Many market participants believe that Solana is a leading contender to receive its own ETF in the near future.

Solana and BNB Market Cap. Source: TradingView

Institutional investors certainly liked the idea. According to CoinShares, SOL saw the most inflows of any altcoin after Ethereum in the week ending July 20. However, the significant gap in inflows between SOL and LTC confirms that large investors are actively investing in Solana, seeing potential in it.

Institutional Inflows into SOL . Source: CoinShares SOL Price Forecast: Break Above $200

At the time of writing, SOL is trading at $185, forming a double bottom pattern . A breakout above the neckline of the pattern usually results in significant gains.

SOL Price Analysis . Source: TradingView

At the moment, the macro bullish pattern points to a 31% rally. The target is $245, which brings the altcoin closer to the all-time high of $260. The probability of this will increase further when $200 turns into a support level. On the other hand, a failed breakout or profit taking by SOL holders would significantly reduce the upside chances. This could lead to a drop to $175, which would invalidate the bullish thesis.

The post Solana (SOL) Surpasses BNB in ​​Market Cap to Become Fourth Largest Cryptocurrency first appeared on The VR Soldier.