The global cryptocurrency market is booming with unrelenting growth. In the midst of optimism, people began to pay attention to specific coins with mixed results.
Solana’s SUI and $QUANT, however, stole the show in different ways. Find out more.
Solana targets additional gains
Alt is trading above $250 at the time of this article, showing a significant bullish trend.
SOL is still one of the most popular altcoins in this cycle. Its latest performance threatens Ethereum’s dominance.
Solana has dominated charts in the last few months. It outshined Ethereum on DEX volume and daily fees.
DeFiLlama’s data shows that Solana has accumulated daily fees of $11.8M, which is more than Ethereum ($5.3M).
Solana also reported a staggering $6.24B daily volume on the DEX, far exceeding ETH’s 850M.
SOL has seen its price increase by over 300% in the last year.
Alt shows a bullish trend, with a 39% rise in the 24-hour volume of trading. This supports an expected increase by 40% to $350.
Ryan Watkins, of Syncracy Capital, stated that Solana’s strength is in demonstrating their developments and not in speculations.
Re: @RyanWatkins_
Solana wins because it offers fast transactions, affordable asset creation and mobile accessibility. This is a major advantage, as nearly all blockchain applications are based on sending assets, exchanging them, or facilitating relationships.
He also mentioned low-cost token generation (which contributed the Solana meme coins boom), mobile transactions, and seamless access.
SUI ecosystem shaken by network outage
Sui caught the attention of crypto enthusiasts on Thursday after a network outage lasting two hours.
Sui is now processing transactions once again thanks to the quick work of the Sui community. A bug in the transaction scheduling logic caused validators crash. This has been fixed.
A bug was to blame for the outage that saw transactions on the L1 Blockchain not being processed.
SUI, meanwhile, has shown resilience ever since its launch in May 2023.
SUI’s price trended upwards in recent weeks, reaching new highs amid bullish market sentiments.
This catalyzed an increase of 55% in the total value locked to $1.6 Billion (DeFiLlama Data).
SUI plummeted to $3.36 after today’s interruption. It has recovered since then to $3.63 as of press time.
SUI’s recent outage is a re-run of past Solana issues.
Solana, for example, has suffered five outages since 2022. The latest was in February 2024.
Community backstops QUANT swindler
After pulling an exit fraud on his coin, Quant.
In front of his audience, he earned $30K (128.3 SOL Tokens).
Pump.fun was used to launch the Genz token. This could have been to take advantage of the current hype surrounding Solana memes.
What began as a fraud turned out to be a lucrative opportunity.
In just a few hours, the crypto community’s energy and determination propelled altcoin’s market cap to $75M.
The 12 year old kid created $QUANT and made $30K. CT was pissed off, so he sent it up to $75m in marketcap. He then creates $sorry coins & earns another $20k! Let’s get $QUANT to 100m in MC
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QUANT also rallied by 71.380% within 6 hours due to increased interest. This led to new highs of $0.07876.
QUANT, however, suffered a remarkable drop of over 50% in its daily chart, resulting in a price of $0.01006 – i.e. an 87% fall from the previous high.
Lookonchain showed that the scammer carried on his game and earned $24K after creating Sorry and Lucy tokens and then dumping them.
The community is still determined to make the teenager accountable. The community has tracked sensitive information about the teen, such as his name, address, family and school.
This family of $Quant kids has been tokenised and doxed. Quant Ecosystem is here to welcome you. Crypto can be weird.
The ICD published the following article: Crypto Today: SOL Targets 40% Surge, SUI Faces Network Outage, Teen’s Failed QUANT Rug Pull.
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