Main topics of the crypto market in the outgoing week
Solana may rise in price to $330, despite the dominance of the bearish trend, according to VanEck. After the March peak at $203, the price of the digital asset began to gradually fall. However, the analysts of the investment company predict the start of a bullish rally, during which the SOL rate may grow two-fold. At the same time, the capitalization of the asset should be 50% of the value of issued Ethereum, which exceeds $300 billion. Experts point out that the Solana network can process 31 times more transactions per second. Also, the blockchain is used by 14 times more users.
TRON founder and HTX (formerly Huobi) advisor Justin Sun said that the two companies plan to “create a comprehensive Web3 ecosystem that integrates payments, investments, and social interactions” through their collaboration. We will focus on driving the growth of the Tron ecosystem, drawing in more high-quality dapps and projects and enhancing the collaboration between Tron and HTX. Meanwhile, we will also tap into HTX’s global influence and extensive resources,” Sun said, adding that, “With the joint efforts of HTX and Tron, we are confident that we can create a truly practical, convenient, and thriving Web3 ecosystem for users worldwide within the next decade.
Bitget Research suggested that in October, the BTC price could exceed the first month of autumn and end up in a fork from $58,000 to $72,000. The analysts named institutional participants in the crypto market as the growth driver. “MicroStrategy continued to sell bonds in September to purchase more bitcoin, and bitcoin exchange-traded funds (ETFs) saw continued net inflows following interest rate cuts. This indicates that institutions are optimistic about the market outlook,” the experts said. They noted that ongoing institutional buying could help bitcoin break previous highs.